Business, Investments and Property in Bulgaria

Video of the Day: Plovdiv, Bulgaria

2007-08-02T01:07:00.000+03:00

Keywords: Plovdiv

Direct link:
Plovdiv, Bulgaria - YouTube

Video of the Day: Bulgaria - Beyond The Crowd

2007-06-13T17:45:00.000+03:00

Direct link:
Bulgaria - Beyond The Crowd - YouTube
[via bglog.net]

See also:
Bulgaria - The World 2 Come

Digital Media Europe: AIG to acquire 65% stake in BTC

2007-05-03T23:41:00.000+03:00

Keywords: BTC, AIG

"Insurance company AIG has agreed to acquire a 65 per cent stake in the Bulgarian Telecommunications Company (BTC), the former state-owned telecoms company, for €1.08 bln."
Source: Digital Media Europe

The New Advertising TV Spot of Bulgaria

2007-03-14T15:49:00.000+02:00

European Headquarters in Sofia?

2007-03-12T04:48:00.000+02:00

Reid Hoffman: What is the best city and country to locate a European headquarters? What are the key issues in making a decision (such as employment law, cost, available talent, etc.) that are specific to Europe?

John Pfeiffer: To add some variety to the mix consider Sofia, Bulgaria. I've lived their 3+ yrs: they've just entered the EU, have a cheap educated work force, cheap land (don't just lease, invest), the airport gives you a plane hop to western europe, the Black Sea is 4 hrs away and the night life is quite nice (quality of life!). There is the foreign language and bureaucracy but it's just a small cost balanced against your low labor and cheap land savings.
Source: LinkedIn

Bloomberg: Jet-Setting for the Masses

2007-03-12T04:30:00.000+02:00

"Drewek, who turns 50 in April, is counting on the Ryanair price bump to help his latest venture, Bulgarian Country Cottages BG EOOD. The company is building homes near a ski resort and national park in Razlog in Bulgaria, one of the EU’s newest members. 'It’s part of the pitch,' he says of the expectation that low-cost carriers will fly into remote airfields. 'It will be a second wave of property increase.' "
Source: Bloomberg

Daily Telegraph: British invasion brings boom for Bulgaria

2007-02-26T03:11:00.000+02:00

Keywords: Veliko Turnovo

"A wave of British buyers looking for a slice of Bulgaria's burgeoning housing market has led to an influx of money into the former communist state.

In the medieval city of Veliko Turnovo, perched on three hills above the Yantra river in central Bulgaria, there used to be only two estate agents.

In the last two years, however, at least 80 new ones have opened their doors to a wave of British buyers looking for a slice of the Bulgarian housing market."
Source: Daily Telegraph

Independent: Property market heats up in Bulgaria's resorts

2007-02-14T17:26:00.000+02:00

"What country is this? At its top ski resort, prospective property investors check in to the Hotel Kempinski, one of the world's top brand names. The rooms are Wi-Fi equipped, and there's a cigar lounge, vitamin bar and spa. Nearby, one of Britain's most up-market estate agents, Savills, is selling apartments for more than £320,000 each.

In the same country's most popular coastal area, Obzor on the Black Sea, exclusive interior-design company Yoo has created a spa resort. The 257 apartments are on sale through another top-end British estate agent, Knight Frank, for up to almost £200,000.

Is this Italy? The US? Maybe France? No - it's Bulgaria."
Source: Independent

Time: Bulgaria Beckons

2007-02-03T01:46:00.000+02:00

"Hospitality in hand, Bulgaria is the next little thing on the international travel scene. The Balkan nation joined the European Union on Jan. 1, with blue flags waving in the streets on New Year's Eve, yet only in recent years have tourists ventured much beyond Black Sea beach towns and into the Ohio-size expanse of rose farms, medieval monasteries and Roman ruins. Visitors, especially Western Europeans, are flocking to ski resorts in the Rila and Pirin mountains and have even sparked a property boom in Bansko, where investors are scooping up cheap vacation homes."
Source: Time

Independent: Bulgaria: Will it be sand, snow or city?

2006-07-27T22:38:00.000+03:00

"As emerging property markets go, few can rival the hype or promise of Bulgaria, three areas of which are now being heavily marketed to British buyers."

"A second investment area is the ski region, chiefly the town of Bansko, although Pamporovo and Borovets are also now popular."
Source: Independent

San Francisco Chronicle: BULGARIA: Iron Curtain lifted slowly on country brimming with European allure

2006-07-24T03:24:00.000+03:00

Image: Plovdiv Guide

"Roughly the size of Ohio, the country is blessed with an abundance of the things that call us to Europe. During my week there I gazed at haunting medieval frescoes in thousand-year-old churches, sipped surprisingly good wines in sidewalk cafes, poked around well-preserved Roman ruins and passed through rural villages where horse-drawn carts still trundle down cobbled lanes. There was so much to see that I never made it to the sun-baked beaches of Bulgaria's Black Sea coast (which, I understand, have been largely colonized by Brits and Germans on package holidays)."
Source: San Francisco Chronicle

Digital Media Europe: Globul to launch 3G service in autumn 2006

2006-07-19T05:27:00.000+03:00

Keywords: Globul, Cosmote

"Bulgarian operator Globul has unveiled some of the capabilities of its 3G service, which include video calls and video streaming. Globul is to launch the service by the end of September 2006.

The 3G network is capable of making video calls and video streaming, which includes live TV and video. The exact description and the prices of the operator's 3G services will be announced at their commercial launch in September 2006."
Source: Digital Media Europe

Digital Media Europe: Black Sea resorts to receive 3G, UMTS and HSDPA services

2006-06-30T21:44:00.000+03:00

Keywords: Mobiltel, 3G, UMTS, HSDPA, Black Sea

"Mobiltel customers travelling in and around the Black Sea will have access to 3G, UMTS and HSDPA services starting 1 July 2006.

Customers in the Southern Black Sea will have access to Bulgarian telcommunications operator Mobitel's 3G network as of July 1, 2006. Starting 8 July, UMTS and HSDPA network coverage will extend to Varna and the resorts along the Northern Black Sea. Resorts in Burgas and Albena already receive 3G network coverage."
Source: Digital Media Europe

Digital Media Europe: Bulgarian winter resorts to get high-speed internet access, additional fixed phone lines

2006-06-27T03:36:00.000+03:00

Keywords: Bulgarian Telecommunications Company (BTC)

"Bulgarian national telco the Bulgarian Telecommunication Company (BTC) is investing over 2 million leva to renovate fixed-line telephony and install ADSL internet capability in three winter resorts: Bansko, Borovets and Pamporovo.

At Bansko, BTC aims to increase the telephone capacity by 30 per cent, which will make it possible to completely digitalize the local phone network. BTC is to increase the telephone capacity in Borovets by over 30 per cent, while increasing the capacity in Pampovo and the neighbouring towns of Shiroka Luka and Stojkite by 100 per cent."
Source: Digital Media Europe

Assetz News: Bulgaria strengthens lead as property hotspot

2006-06-22T19:51:00.000+03:00

"Bulgaria has managed to further improve its reputation as a property investment hotspot in the last three months, according to the latest investment Tracker.

The second quarter of 2006 actually saw Bulgaria improving its position considerably, from a 116 per cent return on cash invested in March to 137 per cent in June, according to research from Assetz."
Source: Assetz News

International Herald Tribune: The rise and rise of Bulgarian property

2006-06-01T18:26:00.000+03:00

"Anyone who has bought property in Bulgaria will tell you that the prices are so low, it is impossible to lose. Prices will continue to rise. The only uncertainty is by how much. And how long.

The Balkan country already has had 12 years of increases. And the National Statistical Institute reported in January that the average sales price per square meter for residential properties in Bulgarian cities had gone up 36.6 percent in the previous year.

But residential prices in Sofia still average only €600, or $717, per square meter, or $66 per square foot. That is much less than the €750 average per square meter in Bratislava, Slovakia; €850 in Bucharest and €1,500 in Prague, according to the National Real Property Association of Bulgaria.

Those numbers have pushed Bulgaria squarely into the real estate spotlight, attracting West Europeans lured by the current hot place for vacation homes and, to a lesser extent, for investment."
Source: International Herald Tribune

Independent: Bulgaria: Sofia so good

2006-04-21T01:38:00.000+03:00

"Robert Nurden sees potential in city flats, ski apartments and seaside resorts."
Source: Independent

Photos:
Bulgaria - Flickr

Telegraph: A little place on the piste

2006-03-02T18:09:00.000+02:00

"A ski home for as little as £30,000? Nicola Venning finds bargains in Bulgaria..."

"For a real ski home bargain, it would be hard to beat Bulgaria. Bansko, an intermediate-level ski resort in the south-west Pirin mountains has recently spent ?130million on improving its 65km of pistes (which reach up to 2,560m) including a new cable car, seven chair lifts and six drag lifts."
Source: Telegraph

Times: When the ice melts

2006-02-07T13:55:00.000+02:00

BUDGET OPTION: BULGARIA
"Low property prices and inexpensive ski passes (usually under £10 a day) make Bulgaria ideal for a budget ski property. Because of the level of challenge its slopes can offer, it is also most suitable for the occasional skier and for those with little experience. The season lasts from mid-December to late March or even late April, and there are daily flights from Britain; the low-cost airlines have not moved in yet, so fares are comparatively high."
Source: Times

Bloomberg: U.K. Bankers May Spend 3 Billion Pounds on Homes After Bonuses

2006-02-02T00:13:00.000+02:00

"Bankers and other employees in London's financial industry are set to spend 3 billion pounds ($5.3 billion) of their 2005 bonuses on buying more than 20,000 new homes in the next few months, according to a report published today."

"Some of the bonuses will be spent on buying real estate overseas in countries such as Bulgaria, Spain, India and China, Nick Clark, chairman of the Homebuyer Show, which takes place in London's Docklands district on March 16-18, said in the statement."
Source: Bloomberg

Independent: Bansko: The upwardly mobile ski resort

2006-01-03T17:44:00.000+02:00

"Stephen Wood reports from Bansko, the Bulgarian resort hoping to replace Andorra as Europe's budget skiing capital."
Source: Independent

i-Newswire.com: Investment property in Bulgaria

2005-12-29T10:04:00.000+02:00

"Bulgaria was classified as 'the new Costa del Sol' according to the UK Daily Mail one year ago. There are many people who are starting to look for properties in Bulgaria: Footballers from UK football clubs, including Chelsea, property investors from all over the world, people, seeking to buy second or retirement home. Like Croatia, Bulgaria is expecting EU accession within the next few years and this will necessarily lead to a considerable increase in its real estate value. A similar process has already started to occur in Cyprus and when Bulgaria accedes to the European Union in 2007 it is widely believed that Sofia in particular will compete with other leading European capitals as a location for the European offices of many multi-national companies.
Bulgaria also has ranked first in the world for 2005 in the amount of investments, compared to the GDP, a report by the World Bank states."
Source: i-Newswire.com

The Herald: Bulgaria rises to third favourite for holiday homes as Britons find the prices are right

2005-12-27T12:35:00.000+02:00

"Bulgaria leapt ahead of Florida, Portugal, and Dubai after marketing the Black Sea coast for summer holidays and inland mountain ranges for skiing.

With the Black Sea coast averaging nearly 300 days of sunshine a year and a good meal for two with wine costing less than GBP8, Bulgaria has also been voted the UK's favourite holiday hot spot by First Choice..."
Source: The Herald

Assetz News: Groundwork laid for Bulgarian Property boom

2005-12-21T22:58:00.000+02:00

"A report issued today has referred to Bulgaria as one of the most rapidly advancing nations in Europe and suggests that it is becoming a 'byword for international property investment.'

The report by Property Frontiers supports the assertion from Assetz managing director Stuart Law that 'Bulgaria is likely to continue proving lucrative as a long term investment into 2006.' It reveals that there was an average property price increase of 47.5 per cent in 2004 while growth in the first quarter of 2005 continued to be strong at 10.6 per cent."
Source: Assetz News

AboutProperty.co.uk: Cyprus and Bulgaria ranked top for buying abroad

2005-12-20T01:50:00.000+02:00

"Cyprus and Bulgaria have been rated as the best places to buy a property abroad in 2006."

" 'Bulgaria is likely to continue proving lucrative as a long term investment into 2006, with ski resorts boasting year round rentals and yields of up to 12 per cent - as much as double those in the coastal resorts,' Mr Law explained.

'The ski resorts thrive through the summer months, offering activities such as hiking, fishing and mountain biking. The low cost of living (a pint of beer for example, costs 50 pence), new cheap flight routes and world-class ski facilities, mean Bulgaria is now providing healthy competition to the French and Austrian ski markets.' "
Source: AboutProperty.co.uk

Assetz News: Groundwork laid for Bulgarian Property boom

2005-12-20T01:45:00.000+02:00

"The last week has seen a number of key developments in Bulgaria that appear to have paved the way for the expected property boom in the coming years."
Souurce: Assetz News

Bansko winter season opened

2005-12-19T13:12:00.000+02:00

"A total of 600 000 tourists are expected to visit Bulgaria's winter resort of Bansko this season. The prediction was 20 per cent higher than the actual number of visitors the previous winter, Bansko mayor Aleksander Kravarov told a press conference for the opening of the new season. The increase would come from the number of foreign tourists. The number of Bulgarians visiting the resort was expected to remain the same, Kravarov said.
Ski champions Rosi Mittermaier, Franz Klammer and Mark Girardelli attended the opening and participated in a ski demonstration.
According to international ski websites Bansko is one of the fastest developing winter resorts in Europe. In the past two years more than 100 tourism facilities have been constructed. Investment in the resort reached 180 million euro in the past three years, Standart newspaper reported."
Source: The Sofia Echo

Greek Investors Eye Bulgaria's Real Estate Market

2005-12-19T10:50:00.000+02:00

"More and more Greek investors are showing interest in Bulgaria's real estate market, Greek MPA news agency reports.

Bulgaria's property market has also attracted the attention of investors from the UK, Israel and Cyprus. Return on investments in that sector remains high and it is believed that the prices have not reached their climax, the news agency points out.

Official data showed that the average annual return on investments reached 12% to 13%, whereas unofficial figures claim that it is up to 60%.

Within the Money Show conference in Thessaloniki it has been revealed that more and more Greek companies are purchasing land and constructing in Bulgaria. Data presented at the conference has showed that the Greek contracts that are about to be inked by the end of 2005 would reach EUR 1 B."
Source: Sofia News Agency

Financial Times: Developers look east for higher yields

2005-12-15T03:51:00.000+02:00

Keywords: Eastern Europe

"The past year has seena flurry of companies raising money on London's stock markets to invest in property in Eastern Europe and the former Soviet Union.

This has thrown up a host of new names. They include Equest Balkan Properties, Dawnay Day Carpathian,the Charles Lewis Fund, Orchid Developments, Black Sea Property Fund,Bulgarian Property Developments, European Convergence Property and Raven Russia."
Source: Financial Times

Assetz News: Bulgaria the new Spain?

2005-12-08T06:11:00.000+02:00

"A review of search engine entries during the last three months has revealed that Bulgarian property is quickly becoming one of Europe's leading investment interests.

The research by d2rworldwide.com reveals that the recent surge of interest in Bulgarian property is unprecedented in the Eastern European market, although some comparisons have been drawn with Croatia."
Source: Assetz News

Business Week: Rise Of A Powerhouse

2005-12-07T08:48:00.000+02:00

Keywords: Eastern Europe

"How the young knowledge workers of Central Europe are pushing the region to a new level."
Source: Business Week

News:
Europe News - Topix.net

Blogs:
The european blogosphere - LoicLeMeur Wiki

Financial Times: Unearthing Bulgaria's Golden Age

2005-12-03T21:50:00.000+02:00

Image: Archaeological Museum Plovdiv

Keywords: Thracians

"The most sensational archaeological finds of recent times are currently being made in one of the poorest countries in Europe: Bulgaria. Bulgaria has long argued that Thracian art is both indigenous and distinct, yet compared with classical Greece and Rome, Thrace has largely been overlooked."
Source: Financial Times

See also:
Archaeological Museum Plovdiv - BBT - real estate in Bulgaria

MyFinances.co.uk: Brits triple spending on second homes

2005-12-03T15:17:00.000+02:00

"In the last three years the amount of money Britons spend on second homes has tripled, new figures show.

UK residents now spend £6 billion a year on second homes, up from £2 billion in 2002."

"But with the British property market stalling, investors are increasingly looking to more adventurous - not to mention cheaper - markets."
Source: MyFinances.co.uk

Times: Young Irish invest in Bulgaria

2005-11-29T05:23:00.000+02:00

"Young people priced out of the market in Ireland are looking abroad to get on the property ladder."

"Low prices are essential for a first-time buyer with no other assets. Morris, who coined the acronym 'young Irish property investor' (Yipi) to describe the trend, explained that affordability is the key. 'The cheapest in Bulgaria is about €30,000; management costs are about €250 per annum, while the stamp duty is about 2%,' he said."
Source: Times

Assetz News: Bulgarian boom set for slopes

2005-11-29T03:46:00.000+02:00

Keywords: Sofia

"The property market in Bulgaria has been growing in confidence over recent years and a bumper 12 months in 2005 looks set to continue."

"Many see the future of property investment in the eastern European country as being on the ski slopes as more people from around the world look to the destination for a cheaper skiing experience."

"Another factor helping the Bulgarian property market to witness massive investment is the fact that the capital, Sofia, is a strong candidate to host the 2014 Winter Olympics."
Source: Assetz News

Photos:
Bulgaria - Flickr
Bulgaria Photo Gallery by Nikola Gruev at pbase.com

BONJOUR L'ESTONIE: Estonian company to build a housing estate in Bulgaria

2005-11-24T23:50:00.000+02:00

"Estonian construction company Koger&Partnerid announced yesterday it will start developing a 34-hectare private housing estate near capital city Sofia in December. 'Bulgaria with its 8 million people and emerging real estate market offers considerably better opportunities for growth than Estonia today,' said Andres Pärloja, head of the company’s Bulgarian operations."
Source: BONJOUR L'ESTONIE

Assetz News: Bulgaria breaks property records with bumper year

2005-11-24T23:09:00.000+02:00

Image: Vassko - Flickr

"Bulgaria's growing property market has experienced yet another record breaking year of investment, with around 250,000 homes expected to be sold and finalised by the end of this year.

The figures mark the former Eastern bloc country out as one of the principal growth property markets in Europe. At a time when most countries are seeing the growth of the past few years ebbing away, Bulgaria expects this year to bring a 28 per cent increase on the number of homes sold last year – which had also been a bumper year with 196,000 properties sold."
Source: Assetz News

Bloomberg: Romanian, Croatian, Bulgarian Stocks Lure Investors on EU Hopes

2005-11-23T02:07:00.000+02:00

Keywords: Bulgaria

"Thomas Farthofer's Bawag P.S.K. Osteuropa Stock fund returned 40 percent annually the past three years investing in such Eastern European countries as Hungary and Poland. Now, he's shifting money to Romania, Croatia and Bulgaria."

"Investors such as Farthofer say economic growth in Romania, Croatia and Bulgaria is set to outpace former stars such as Hungary and Poland, which joined the European Union in May 2004. The EU, the world's largest trading bloc, is targeting membership for Romania and Bulgaria by 2007 and Croatia by 2009. Joining the EU would boost local economies and stock markets as trade barriers fall and travel restrictions are eased."
Source: Bloomberg

GlobeSt.com: Tishman-Linder Fund Busy In Bulgaria

2005-11-21T03:26:00.000+02:00

"Developer Tishman International of Los Angeles and Arnstorf, Germany-based builder Linder AG are very busy these days in Bulgaria, which is set to join the European Union in 2007. In addition to Sofia Airport Center, the $76-million mixed-use project GlobeSt.com wrote about in October, the duo is starting a $70-million residential development, negotiating the acquisition of three additional development parcels and forming a new company to manage the completed projects."
Source: GlobeSt.com

SkyEurope will fly from Budapest to Bulgaria

2005-11-21T03:22:00.000+02:00

Image: Sky Europe

"SkyEurope have put 4 new routes on sale for 2006 from Budapest. In mid-April they will launch 2 new Italian routes from Budapest, including Bologna (Guglielmo Marconi) and Naples.

They will also launch 2 new routes to Bulgaria for the summer season, including Bourgas and Varna. This will make SkyEurope the first low-cost airline to fly to Varna."
Source: cheap0

The Business: Unlocking the secrets of East Europe’s runs

2005-11-21T00:23:00.000+02:00

Image: Bansko Photographs - Exclusive Properties

"Bulgaria is promoting itself for the 2014 Winter Olympics and its 'ski capita' Bansko, a two-hour drive from Sofia airport, boasts having the most modern lift system in Europe, with a new gondola from the town to the slopes. A second gondola to carry skiers from the town to the mountains is under construction and is expected to be completed for use in the 2006-07 season.

Situated in the Pirin mountains, Bansko is a dual season resort and a World Heritage site, offering golf, thermal baths, climbing, hiking, horse riding, cycling and access to ski-ing at l,400 to 2,500 metres. It has an attractive old town with cobbled streets and tavernas offering lively apres-ski. A new 18-hole championship golf course is being built in the area.

Bulgaria is the country with the best-developed market for ski property in Central and Eastern Europe."
Source: The Business

Ski Legend Marc Girardelli to Open Season in Bulgaria

2005-11-19T01:59:00.000+02:00

Image: Marc Girardelli

Keywords: Marc Girardelli, Bansko

"Ski legends Marc Girardelli and Rosi Mittermeier will open the skiing season in the mountain resort of Bansko, Bulgaria's news agency reported.

The official opening will take place December 17.

In the summer Girardelli and the municipality of Bansko established a joint venture for the creation of a major sports club in the town. He is currently a consultant to Bulgaria's national skiing teams.

In the beginning of the month, the Observer reported that during the Olympia Ski Show in London in October, Girardelli was promoting Bansko."
Source: Sofia News Agency

See also:
The Observer: Slope off to Serbia, Bulgaria, Slovenia - BBT - real estate in Bulgaria

Financial Times: Equest Balkan comes to market

2005-11-17T00:09:00.000+02:00

Keywords: Eastern Europe

"The wave of new property companies aimed at eastern Europe continues with the flotation of Equest Balkan Properties on Aim next month, at an estimated market capitalisation of £190m.

The group, which will invest primarily in commercial property in Bulgaria and Romania, is run by London-based Equest Capital Management, which already runs a Dublin-listed investment company focused on Bulgarian industry."
Source: Financial Times

Bulgaria Increasingly Attractable to Foreign Investors

2005-11-15T17:29:00.000+02:00

Keywords: Balkans, Bank Austria Creditanstalt

"Bulgaria and Romania promise to become the most attractive countries in the South Eastern Europe region for foreign investors.

According to a latest report released this week by the analytical unit of Bank Austria Creditanstalt, investors will be attracted by the good privatisation offers in the two Balkan countries. Besides, since the early 90s the region has been turning into the fastest developing market after Asia.

With an average GDP growth of 5% annually since 2000, South East Europe surpasses the EU member states in its economic development, where the average annual GDP is 3.5%.

Structural changes, related to EU membership, would increase the positive economic developments as the two countries move forward toward EU membership. Bulgaria and Romania would develop greatly after joining the EU and were expected to become leaders in economic growth in the region, the report says."
Source: Sofia News Agency

Vivatel launches in Bulgaria

2005-11-14T00:51:00.000+02:00

Image: Vivatel

"Vivatel, the brand name of Bulgarian mobile operator BTC Mobile, has launched in Bulgaria with post-paid offers for businesses and pre-paid services for other customers.

There are two pricing offers to business customers. Vivatel’s Business 1 plan offers 50 included minutes for €5.11 per month. These free minutes can be used only for calls to other Vivatel phones and fixed networks. Once these minutes are used, customers will be charged for calls.

With Vivatel’s Business 2 package, for €7.67 per month, customers will receive 100 free minutes for calls to other Vivatel phones and fixed networks.

Under either plan customers can enjoy free calls among Vivatel phones on the same account without an additional charge.

Vivatel pre-paid Starter Packs hit the market a week ago; vouchers in denominations of €5.11, €10.23 and €25.57 are available.

Vivatel launches with 90 per cent population coverage."
Source: Digital Media Europe

Epoch Times: Bulgaria — The Secret Rose of Europe

2005-11-13T18:51:00.000+02:00

Image: Plovdiv (the old town) - Nikola Gruev photos at pbase.com

"With a still struggling economy since the fall of Communism, hidden in the Balkan region, Bulgaria is Eastern Europe’s secret rose. It’s beauty and charm aren’t found in grand architecture or carefully tended gardens, but in its crumbling cities and street side cafes in stark contrast with young ladies ‘on the cutting edge’ of popular fashion."

Source: Epoch Times

New York Times: Bulgaria: Where Bargain-Seekers Ski

2005-11-13T00:03:00.000+02:00

Keywords: Bansko, Pamporovo, tourism in Bulgaria

"BULGARIA may be known for certain things - its ancient monasteries, for instance, or the local habit of nodding one's head to say no - but skiing probably isn't one of them. That's beginning to change as the Bulgarian slopes, the site of Alpine World Cup races in the early 1980's, are increasingly being explored by bargain-seekers from the West.

New chairlifts and hotels open nearly every year at the country's three main skiing destinations - Borovets, Bansko and Pamporovo - while Mount Vitosha, outside Sofia, remains an easy and popular getaway."
Source: New York Times

Financial Times: On the edge of the forest

2005-11-12T23:39:00.000+02:00

Keywords: Yambol Province

"Drive into Elhovo, a small town set among rolling pasture land in south-east Bulgaria, and you enter a time warp. Weathered concrete buildings, sagging tiles and grass verges thick with dandelions hark back to communist days when the town, less than an hour’s drive from Turkey and Greece, was part of a Warsaw Pact military zone. But a buzz of Saturday-morning activity in the main square points to a more lively future.

Elhovo is an unlikely hot-spot in Bulgaria’s property boom. British couples throng the cafés and half-a-dozen estate agents’ offices, which advertise properties in 20-odd villages in the surrounding area, provide an informal meeting-place for new residents."
Source: Financial Times

Event of the Week: Real Estate & Investment Forum

2005-11-11T22:20:00.000+02:00

"Real Estate & Investment Forum (RINFOR) is tightly focused three-day large conference held twice a year that provides profitable networking opportunities for both experienced real estate players and those considering entry in the future. RINFOR provides comprehensive insight into the current state of the Balkan property market as well as its potential for further development.

Over 500 representatives of institutional and private investors, banks, developers, hotel owners, insurance companies, real estate brokers and advisers, corporate and project finance advisors, regional authorities are going to attend the sessions and presentations of new investment projects.

Delegates receive 'first-hand' information about prospective niches in the market for new investments. Projects looking for partners for their realization are presented.

At the end of the Rinfor delegates receive a comprehensive information, including the opinions and ideas shared in the course of the panel discussions.

Some of the companies, having used RINFOR to become familiar with the Balkans real estate market or to expand their activities here are EUROHYPO AG (Germany), InvestKredit AG (Austria), Accor (France), EBRD (UK), TK Development (Denmark), Tourism Brain Trust (Austria), Stewart International (USA), Sigma Bleyzer (USA), GLL Real Estate Partners (Germany), Soravia, TUI Corporate Finance, Raiffeisen Evolution, Colliers International, Elta Consult (an associate of CB Richard Ellis in Bulgaria), Forton International (an associate of Cushman & Wakefield Healey & Baker in Bulgaria), Kempinski Hotels, Royal Frans Maas, Schenker Logistics, Billa, Equest Partners, etc."
Source: Rinfor

Golf Tourism in Bulgaria?

2005-11-11T21:39:00.000+02:00

Image: Golf Club Air Sofia

Keywords: golf

"Bulgaria has the potential to turn into a major golf tourism destination, where seasonal peculiarities give golf players from seven to nine months to enjoy their favourite game, according to a Spanish expert.

Manuel Ferry Sanchez, CEO of Ferry Group, Spain, talked at the RINFOR Real Estate & Investment Forum, which is taking place in Sofia.

Sluggish administration and the parceling out of land are the heaviest difficulties that investors in golf courses face in Bulgaria, Sanchez said during the discussion 'Golf tourism - exotic hobby or profitable investment?'.

Over the last twenty years golf has gradually gained popularity in Spain, which now boasts 737 golf courses on its territory.

Bulgarian experts say it is feasible to project the construction of up to fifty golf courses in a radius of 50-60 kilometers off Sofia.

Bulgaria plans to construct 40 golf courses up to 2020, the cost for the maintenance of each set at 40, 000 euros."
Source: Sofia News Agency

Forbes: Tishman Drawn to Invest in Bulgaria

2005-11-08T23:04:00.000+02:00

Keywords: Tishman International, Alan Levy

"The chairman of U.S.-based Tishman International Companies said Tuesday that its euro 65 million (US$78 million) property development project at Sofia Airport was well-timed to take advantage of Bulgaria's planned entry into the European Union.

The California-based real estate developer is building a logistics center with corporate offices and other business facilities near Sofia's airport.

'With its rapid economic development, its planned accession to the EU and its well-trained labor force, Bulgaria is an increasingly attractive place for international investment projects,' said Tishman CEO and Chairman Alan Levy.

Bulgaria is expected to join the EU in 2007.

The Sofia Airport Center will include about 25 acres (10 hectares) of built-up area and should be completed over the next three years, Levy told reporters in Bulgaria.

The new development will be run by Tishman Management Company EOOD, a Bulgarian unit of Tishman International Companies.

The corporation is planning to sell or rent facilities in the complex to local and international grocery store chains, freight forwarders and other companies that need commercial space close to Sofia Airport.

Construction will be carried out by local companies. The new complex will create between 1,000 and 1,200 jobs."
Source: Forbes

The Observer: Slope off to Serbia, Bulgaria, Slovenia

2005-11-07T01:18:00.000+02:00

Keywords: tourism in Bulgaria

"Champion racer Marc Girardelli was at the Olympia Ski Show in London a few weeks ago, promoting not some big American or French resort, but little-known Bansko in Bulgaria. The resort's big-name signing shows its determination to take east European skiing to a whole new level, with skiing and accommodation to compete with the Alps on quality rather than cost. £20 million has already been spent on new lifts, and a cluster of new hotels has been built close to the slopes. The heart of the town is a Unesco heritage site with pretty cobbled streets and welcoming bars and restaurants. There are 65km of pistes and you're highly unlikely to find a queue on the mountain. Bulgaria's other leading resorts, Borovets and Pamporovo, are now investing to try to keep up. At the moment though, Pamporovo is best only for total beginners, while Borovets has more to offer intermediates."
Source: The Observer

Archaeological Museum Plovdiv

2005-11-03T01:18:00.000+02:00

Keywords: Plovdiv

"The Archaeological museum in Plovdiv is one of the first Bulgarian cultural institutions, officially opened in 1882. Originally set up as an archaeological and numismatic office-center, it gradually earned the status of Archaeological Museum during the 1920s.

Its funds initially consisted of a numismatic collection of 1,500 coins, ethnographical and historical documents, church plates, and incunabula from the VIII - XVII c., as well as 300 icons and paintings by some of the most famous Bulgarian painters Stanislav Dospevski, Ivan Lazarov, Tzanko Lavrenov, Nikolay Rainov, Zlatju Boiadjiev, and many others.

Plovdiv Archaeological Museum boasts one of the richest collections of 100.000 exhibits of artifacts related to the history of Plovdiv and its region as an heir to one of the biggest and most famous ancient towns in the Balkan Penninsula."
Source: Archaeological Museum Plovdiv

See also:
The National Museum of History - Sofia, Bulgaria - BBT - real estate in Bulgaria

EscapeArtist: Investing in Real Estate in Bulgaria - A Buoyant Property Market

2005-11-02T21:53:00.000+02:00

"Until recently Bulgaria was a little heard of, little talked about country tucked away in a dark corner of the Eastern Block so what has changed? Bulgaria’s success in attracting thousands of property investors could be put down to two key factors.

Firstly, the past two years have seen a decline in rental yields in many of Europe’s more established property markets. The UK, Ireland particularly are seeing rental yields drop to under three per cent. Combined with the over inflated cost of property in these countries, the Western Europe investment market is a tough one to work. This has resulted in thousands of investors, turning to Europe’s emerging economies, seeking out markets that can work their funds more profitably. Close behind them follow hundreds of amateur investors and holiday homes buyers ready to buy up the new properties being built by professional developers.

However, foreign interest in new markets alone doesn’t explain Bulgaria’s success. Investors seeking new pastures could in theory take their funds to any of the former Communist countries and many of them do. The second factor that has attributed to Bulgaria mass appeal is its versatility. Bulgaria is such an attractive investment opportunity because it has something for everybody’s tastes and offers the investor and holiday homebuyer plenty of choice. Right now dozens of new developments are springing up along the beautiful Black Sea coastline and sun soakers from all over Europe flock to Bulgaria for cheap and affordable beach holidays! Further inland, Bulgaria’s main ski resorts have become some of the most fashionable in Europe, particularly Borovets and Pamporovo. Top quality ski chalets, hotels and complexes are being built to facilitate the new influx of European skiers, all at amazingly affordable prices. A ski chalet in the centre of Bulgaria’s ski resorts can be bought for a quarter of the price of a similar chalet in France or Italy. Finally, the natural beauty of Bulgaria’s mountain ranges and valleys has made it an appealing location for walking, cycling and adventure holidays. From the cosmopolitan appeal of the Sofia, the countries capital, to the small villages of the Rhodope Mountains, Bulgaria has something to offer every taste at some of the most affordable prices in Europe."
Source: EscapeArtist

Financial Times: Bulgaria's real estate trusts lure investors to the Black Sea

2005-11-01T22:33:00.000+02:00

Keywords: real estate investment trust (REIT)

"Popular television programmes have encouraged thousands of UK investors to buy a holiday apartment on Bulgaria's Black Sea coast or at a ski resort for half the price of a similar property in Spain.

But the country's fledgling real estate market is moving beyond the second-home construction boom.

Bulgaria, which is due to join the European Union by 2008 at the latest, has launched eastern Europe's first US-style real estate investment trust (Reit). These trusts are tax-friendly property funds that have to pay out most of their income to shareholders. The aim is to broaden and deepen the real estate market.

Bulgaria's finance ministry has opted to give up tax revenues in favour of persuading investors to accept professional management of real estate assets. Its Reits legislation, part of financial market reforms launched by a liberal government, is based on similar frameworks in the US and France."
Source: Financial Times

Learn:
Real Estate Investment Trusts - About.com
Real Estate Investing Through REITs - History and Benefits of REITs - About.com

Land, Balchik

2005-10-31T23:03:00.000+02:00

Keywords: Balchik

Town/Region/Location: Balchik
Area:
Plot 48 000 sq.m
Description:
Region of Balchik and the panoramic area of “Letishte”. Located between two main roads – international main road and second-class panoramic road. The attractive area consists of golf-settlements, currently under construction and some of the biggest golf courses in Bulgaria in terms of capacity and functionality, sites of resort of balneologic nature and the most famous mud-treatment facility in Dobrudzha – “Balchishka Tuzla”. The current characterisation includes the plot offered – 48 000 square meters, with access to the main international road – 180 linear meters with a possibility of using the golf infrastructure – electricity, water, transport and beach access (700 meters away from the golf course). Possibility of high-leverage hotel construction and documents for the preparation of detailed structuring plan and untroubled annexation to the municipal regulative system, accompanied with documents of ownership, valid for all plots, adjacent to the golf courses and included in the new regulation plan, provisioned solely for resort construction. A parcel of 25 000 square meters is also situated in the nearest proximity to this resort area, accompanied with documents, permitting the preparation of a detailed structuring plan. The plot has a common border with the future golf courses and this fact determines its serious tourist value, with a possibility of using all communiactions, servicing the golf settlement.

Price: 720 000 EUR

See also:
http://propertiess.com/uk/NearGolfCourse.php

New York Times: A Second Home in Bulgaria?

2005-10-31T03:30:00.000+02:00

Keywords: Nesebar

"But Suzanne Halmer is not the least bit concerned. A teacher's assistant in Los Angeles, Ms. Halmer postponed her dreams of a Paris apartment and, instead, paid 22,000 euros (about $27,000) this year for a 400-square-foot studio in Bulgaria. It is part of a new resort called Sunny Beach, near the old town of Nesebur, that looks like a mini-Florida development on the Black Sea.

'Five years from now, it's going to be worth 85,000 euros,' said Ms. Halmer, 47, who also owns a ski condo in Park City, Utah. 'I'm not crazy about Bulgaria, but I'm crazy about the prices.' "
Source: New York Times

Business properties, Varna, Avren, Kamchia

2005-10-30T22:50:00.000+02:00

Keywords: Varna

Town/Region/Location: Varna, Avren, Kamchia
Area: 100 000 sq.m
Description:
The plot has a total area of 100 000 square meters and is located 20 kilometers south of Varna. Regulated, bordering with a wonderful beach lane.

Price: 1 400 000 EUR

See also:
http://propertiess.com/uk/product87.php

Village House, Varna, Kazashko

2005-10-30T22:22:00.000+02:00

Keywords: Varna

Region: Varna, Kazashko
Location: Located 5 kilometers of Varna and 200 meter at lake.
Panorama: View to the woods and to the lake
Heating: Fireplace
Area: Plot 750 sq.m GEA 300 sq.m
Price: 280 000 EUR

See also:
http://propertiess.com/uk/product33.php

The National Museum of History - Sofia, Bulgaria

2005-10-29T22:10:00.000+03:00

Keywords: history of the Balkans, history of Bulgaria

The National Museum of History in Sofia is one of the largest history museums on the Balkans with 650.000 objects and largest archaeological and historical archive. The Museum's collections are its greatest treasure. They contain material remains from ancient and mediaeval cultures in the Bulgarian Lands.

- Prehistoric cultures in Bulgaria
- Ancient Thrace - monuments and finds
- Macedonian and Hellenistic period
- Roman Empire period monuments from Thrace and Moesia
- Art and materials from the time "Volkerwanderungs", 4th-6th centuries
- Byzantine Empire art and culture from Bulgaria
- First and Second Bulgarian Kingdom culture
- Ottoman rule of Bulgarian lands - materials
- Bulgarian National Revival culture
- Modern Bulgarian history

Source: National Museum of History

Alen Mak area, Varna, Bulgaria

2005-10-29T21:40:00.000+03:00

Keywords: Varna

Town/Region/Location: Varna, Alen Mak
area
house - 210 sq.m yard - 500 sq.m

Price: 250 000 EUR

See also:
http://propertiess.com/uk/product3.php