Fri, Feb 10 2012
Nearly 330 exhibitors from 18 countries took part in the 16th edition of International Property, Investment and Finance Fair REFE, an increase of 12 per cent in comparison to figures for the previous year. REFE took place from April 20 to 22 in Poland.
In the investment part of the 16th REFE banks, property managers, city and commune councils presented property investment opportunities. Discussions on finance, business, investments and tourism assets of cities and towns were held during the main part of the expo. Its third part focused on residential developments.
A conference on investment potential of Central and Eastern Europe seemed to be a focal event. Other lectures saw the participation of 41 speakers from Bulgaria, France, Poland, Romania, Ukraine and US.
Organisers said that the autumn edition of the expo will focus on Polish companies.
The autumn edition of the expo will be intended for developers, investors, representatives of national and regional authorities, city and municipal councils, chambers of commerce and trade, sector associations, architects, and others having interest in the property sphere.
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.