Fri, Feb 10 2012
Bulgaria's tourist sector proved surprisingly resilient last year with rising profits and a surge in building, particularly on the Black Sea
During the May-June period, holiday packages and one-night stays at hotels in Black Sea resorts could cost up to 20 per cent less.
Hotel owners face grim choice: keep current prices and face bankruptcy or cut them and still face bankruptcy
The conflagration takes four hours to reduce the hotel to embers. Given the scale of the disaster, it is a miracle that no one is even slightly injured. Survivors claim it was caused by a short circuit, others believe it was done for the insurance.
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.