Fri, Feb 10 2012
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The international consultant company Cushman & Wakefield revealed that Bulgaria is a European leader in terms of new construction completed for the first six months of 2009.
The number of frozen and abandoned mall projects have also risen because of bad economic teams and difficulty in getting loans.
The project will be financed by the Bulgarian Bank for Development, and the Joint European Support for Sustainable Investment in City Areas, or Jessica Programme, although the report has so far failed to reveal the total cost of the vast enterprise.
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
The city hall demolishes three buildings for not meeting legal requirements amid protests from the beach concessionaire
Varna and Burgas aiports recorded a marked increase in passenger numbers, in Bourgas' case thanks to inauguration of thrice-weekly route to London
Unless the city hall lowers the rent, the establishments face the prospect of staying closed for the summer season. Currently only three out of 26 are operational
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.