Fri, Feb 10 2012
At least eight projects for hotel construction in Bulgaria's Hisarya spa resort have already received approval, Hisarya municipality said.
The town is famous with its healing mineral springs, investor.bg reported.
Bulgarian and foreign investors showed their interest in the town. Large plots feature among the most wanted terrains for the construction of hotels, spa centres and smaller vacation houses.
Prices in the centre of the town reached 70 to 80 euro per sq m. The most attractive areas are the terrains close to the mineral springs and hotel Augusta.
The new residential construction is offered at average prices of 800 euro per sq m.
The average price for small houses with yards amounts to 15 000 euro. Terrains outside Hisarya could still be found at lower prices, nearly ten euro per sq m as the prices are expected to go up soon.
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.