Sat, Nov 07 2009

Eastern Europe's declining competitiveness accounts for a geographic relocation in outsourcing of office space. Nevertheless, Bulgaria is holding its own.
Apart from luxury yachts, guests at the annual HYPO Bulgaria Boat Show in Varna will see helicopters, sports cars, motor bikes, scooters, diving gear and other specialised sports kit
The most drastic decrease is observed in the prices of residential estates along the Bulgarian Black Sea coast. Falls are observed in all market sectors nationwide but Sunny Beach, Sveti Vlas, Varna and Bourgas are experiencing sharpest reductions.
Two large residential areas, a business and office centre and an entertainment centre, equipped with its own park, lake, and a play school close to Varna city centre to be ready by July 2011.
The project will cost 2.3 million leva, with an additional five million leva worth of modern equipment to be installed. Another two million leva is needed to revamp the current equipment in use, all of it by the end of August.
The head of public order, Svetomir Nikolov, has been fired as part of a massive action undertaken to stall illegal construction around the Varna Lake
Office rent transactions peaked at 65 000 sq m between July and September 2008, but collapsed to 10 700 sq m in Q3 2009, Forton manager Sergei Koinov said.
Most potential buyers are now opting to buy a luxury flat in the range of 120 000 to 150 000 euro or a single family home for about 500 000 euro.
About 30 000 to 35 000 people employed in the construction sector were facing redundancies in 2010, Bulgaria's Regional Development Minister Rossen Plevneliev said on October 26.
Average market prices of housing in Bulgaria dropped five per cent in July-September, measured quarter-on-quarter, the National Statistical Institute said on October 23 2009.
The European Investment Bank (EIB) has released a 43.5 million euro loan to Sofia Municipality, for infrastructure projects worth 88.1 million euro in total