Fri, Feb 10 2012
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
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.