Fri, Feb 10 2012
Starting March 19 the Directorate for National Construction Control (DNCC) will launch a series of inspections concerning hotel construction in the winter resort of Bansko.
The first inspection phase will last until March 28 and will target hotels under construction and the ones set up from 2004 to 2006, mediapool.bg reported.
For that period, Bansko municipality issued more than 400 hotel construction permits. In case all plans are followed these hotels will have the capacity to accommodate 30 000 people.
Inspectors will examine plans and the manner in which construction works were carried out.
DNCC will also check if a company is supervising construction works and whether all safety requirements are met.
Results from the first inspection will be announced on April 6.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.