Fri, Feb 10 2012
Bulgaria's Directorate for National Construction Supervision (DNCS) has issued a total of 193 orders for the demolition of illegally constructed buildings, including 94 on the north coastline and 99 along the southern coast, DNCS head Ivan Simitchiev told a news conference in Bourgas on March 31, as quoted by Dnevnik daily.
All of the developments were located on the beach-front.
A fair number of the violations were ascertained in establishments serving food. A common transgression was their sewerage conduits being septic pits sprawling on the beach, which was highly inadmissible, Simitchiev commented.
Old construction units were found on many beaches and, consequently, the authorities had worked out demolition acts, according to the Spatial Planning of the Bulgarian Black Sea Coastline Act. These establishments had the status of temporary assembly constructions and had to be wiped out by municipalities, Simitchiev noted.
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.