Fri, Feb 10 2012
Spanish construction company Bogaris, formerly known as Grupo Detea, would invest 15 million euro in the industrial park in Slatina area of Rousse, local authorities said, as quoted by Dnevnik daily.
The company would design and build manufacturing, storage and office premises, Dnevnik daily reported.
Bogaris was already investing 680 million euro in real estate projects in Romania. "We are looking for industrial land, but we have problems finding them at the right price because the industrial market is developing," general manager Alfonso Otero told The Diplomat magazine in Bucharest. "I have the impression that there is a lot of land for sale in Romania but few transactions."
Another Spanish company, Keros Ceramica, was already building a ceramics factory in the Rousse's industrial park in Slatina.
Austere economic conditions in Romania and Greece contribute to companies' shift towards Bulgaria
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.