Sun, Nov 08 2009

Average prices of Black Sea properties have decreased by 40 per cent in the first eight months of 2009, according to the International Real Estate Federation of Bulgaria.
House prices in Bulgaria in the first half of 2009 were 23 per cent lower than those in H1 2008, with decreases higher in towns where properties were overpriced, real estate company says.
Average selling prices in Sofia have tumbled by 22.19 per cent year-on-year from January to June, 21.9 per cent in the coastal city of Varna, 19 per cent in Bourgas, also at the Black Sea, and 18.7 per cent in the second largest city of Plovdiv.
Banks are offloading properties on auction to compensate for hanging mortgages.
Blackwater Homes, a Cork-based firm which has constructed several housing developments in the south of Ireland, and is currently promoting a 354-flat complex in the Black Sea coast in Bulgaria, including a spa and a hotel, has filed for bankruptcy protection
Nearly 20-30 per cent of offices across the country stay empty. The variety of promotions launched by sellers also fails to steady the segment
Bulgarian authorities have issued 2527 construction permits in the first quarter of 2009, a decrease of 28 per cent over the same period of the previous year
Compared with March 2008, output in March 2009 dropped by 8.7 per cent in the euro area and by 10.5 per cent in the EU27, European statistical office Eurostat estimates.
Visitors from construction companies in Northern Ireland seek to gain foothold in Bulgaria
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
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