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Sat, Feb 11 2012
The credit crunch: Factories, hotels and plants put up for sales by private bailiffs
Photo: Georgi Kozhouharov
Private bailiffs have put up for sale industrial properties worth more than 45 million leva as their private owners are facing increasing difficulties in paying their mortgages.
Four hotels priced a total of 16 million leva are up for grabs, showed data by the chamber of private bailiffs in Bulgaria.
"A month and a half ago we tendered off just a factory and a hotel and the rising number of properties going on the block shows the crisis is getting uglier," said chamber head, Georgi Dichev.
A metal products unit in Bourgas, a textile plant in Vidin, a flour mill, a frozen food unit and a dairy are auctioned off as their current owners have defaulted on mortgage payments.
Some owners are selling out production facilities, which means they are winding up. A growing number of buyers have turned up since the chamber published in the Internet properties on sale, Dichev said.
However, the 10 000 visits a day and the surge in the number of bidders, does not translate into more transactions. Though attractive, the properties auctioned by private bailiffs bear the brunt of the overall market stagnation, he said.
Deals struck at the initial price are once in a blue moon but a second tender means a lower guide price that may leave the seller short of money to cover debts.
Four hotels priced a total of 16 million leva are up for grabs, showed data by the chamber of private bailiffs in Bulgaria.
"A month and a half ago we tendered off just a factory and a hotel and the rising number of properties going on the block shows the crisis is getting uglier," said chamber head, Georgi Dichev.
A metal products unit in Bourgas, a textile plant in Vidin, a flour mill, a frozen food unit and a dairy are auctioned off as their current owners have defaulted on mortgage payments.
Some owners are selling out production facilities, which means they are winding up. A growing number of buyers have turned up since the chamber published in the Internet properties on sale, Dichev said.
However, the 10 000 visits a day and the surge in the number of bidders, does not translate into more transactions. Though attractive, the properties auctioned by private bailiffs bear the brunt of the overall market stagnation, he said.
Deals struck at the initial price are once in a blue moon but a second tender means a lower guide price that may leave the seller short of money to cover debts.
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Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.
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This comment has been removed by the moderator because it contained реклама & спам
Where can I see these properties?