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Bulgarian property market set for recovery |
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Sunday, 06 March 2011 |
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Bulgaria's property market could be set for a revival later this year, as a new breed of investor looks to take advantage of low costs and an improving economy in the country. Real estate consultancy Colliers International has said that a rebound in sales is likely to occur in the second half of 2011, in response to an improvement in Bulgaria's macro-economic credentials. |
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AVERAGE RURAL PROPERTY PRICE - GBP 9,875 |
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Tuesday, 22 February 2011 |
Rural property prices were among the hardest hit by the global economic crunch and have accounted for a continuous decline, plummeting to 2004 levels. Perhaps as a consequence, for the first time since the crunch, there has been some activity on the market. Amid the perpetually declining prices, properties deals actually staged an increase of about 49 per cent in 2010 compared to 2009, Investor.bg reported yesterday.
In 2010 alone, rural property prices declined by about 19 per cent, reaching 2004 levels, according to the report. The average price of properties sold through the agency last year was 11,600 euro (9,875 GBP), or just 300 euro more than their average 11,300 euro six years ago. |
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BG PROPERTY UPSWING FOR 2011? |
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Tuesday, 22 February 2011 |
Following a year of stagnation, in which Bulgaria's property market went from being one of the best performing in Europe to one of the worst performing, it is due to rebound again, according to a report from Colliers International.
"Our expectations for the first half of 2011 are to be as challenging as 2010 was. The second half of the year will mark the upswing in almost all real estate segments", said Atanas S. Garov, Managing Director of Colliers International, Bulgaria. "We are positive that new players will be seen this year, which will bring liquidity on the market and will define its development in the medium term".
In 2011, demand in mid-plus and high-end residential real estate will continue to grow as the Bulgarian economy gradually improves, according to Colliers experts. However, with the increasing absorption, there is a genuine risk of the market becoming qualitatively undersupplied. |
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BG TO GRANT CITIZENSHIP AFTER 5 YR RESIDENCY |
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Monday, 01 November 2010 |
Five-year legal residency in Bulgaria is the basic criteria for foreigners who want to receive Bulgarian citizenship, state the amendments to the Foreigners Act, adopted at first reading in parliament yesterday.
The candidates have to prove that they have enough resources, as well as health insurance, so that they do not become a burden to an EU member state. After obtaining citizenship, their status is permanent, as long as they do not violate the principles, laid down by European directives. |
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Growth of suburban real estate transactions in Bulgaria |
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Tuesday, 19 October 2010 |
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Signs of recovery in the suburban real estate market in Bulgaria. After a period of relatively low activity, are visible signs of recovery in the suburban real estate market in Bulgaria, according to statistics of the company «MyBgProperties»Ltd .
Number of transactions in the suburban real estate market in the first half of 2010, shows an increase of 27% compared with the previous period of six months, sales have been most active in the sector of rural property value up to 20 000 euros according to the statistics «MyBgProperties»Ltd. |
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