Fri, Feb 10 2012
Poor infrastructure, polluted beaches, low standards of construction, noisy building sites, poor service and bankruptcies will put Bulgaria's Black Sea resorts under pressure this summer, British newspaper The Telegraph reported on May 9.
Problems with the power supply, refuse waters and pollution have persisted last summer and have made an appearance this year already, although the tourist season is yet to start properly, the paper said.
"Much of the infrastructure along the coast - including power supplies - was built 20 years ago and was designed for far fewer holidaymakers. The water treatment system at Golden Sands can successfully service 15 000 people, but not the current 40 000," The Telegraph wrote.
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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.