Latest Bulgarian Property News

2011-07-03 09:04:54
Elin Pelin becomes the warehouse of Bulgaria
The town of Elin Pelin becomes the warehouse base of Bulgaria. On the territory of the municipality there are already depots of companies like LIDL, BILLA, PENNY MARKET and Caven Orbico, and in the middle of May the Belgian distributor of fresh and frozen foods UNIVEG opened its logistic and distribution center near the town.
The mayor of the town announced that there will be built base of the chain of stores PICADILLY in the industrial area “Park Sofia – East”. In the moment the distributor of sanitary JESSICA is building base there too.

The logistic operators have positive attitudes for the development of the business in 2011, shows research of Colliers International between 70 companies in the country. None of the companies researched expects lower sells in this year, accordingly to the last year when one third of the companies had negative attitudes.
For second year the strongest parts of the sector are the companies for fast selling goods, pharmacy and medical goods. Most common are the own distribution centers, after that are the rented one.

2011-06-18 10:30:38
Sofia – The Cheapest Tourist Destination in Europe
Sofia tops the ranking for the cheapest European cultural destinations which includes 40 major cities. The data comes from a research of the company Price of Travel. The last place in the ranking is occupied by Zurich.
the rating is made on the basis of a brand new methodology. What is taken into account is the following:

• One night in the cheapest bunk at the least expensive hostel with a good location and good reviews
• Two public transportation rides per day
• One paid/famous attraction per day
• Three “budget” meals per day
• Three cheap, local beers (or wine) each day as an “entertainment fund.” Non-drinkers might have dessert and coffee or attend a local music performance instead, so this is a general benchmark that should be proportional for each city.
A day in Sofia costs 20.75 USD, according to Price of Travel. Second comes the city of Krakow, where the daily allowance for tourists is about 6 USD more compared to Sofia. Third comes Bucharest with a little over 28 USD. The most expensive tourist destinations are in Scandinavia. A night in Oslo will cost tourists 102 USD, in Stockholm – 94 USD, in Copenhagen – 84.5 USD and in Helsinki – 81.6 USD.

2011-06-18 10:29:26
Japan Planning to Build Huge Solar Park in Yambol, Bulgaria
Japanese Toshiba and the Tokyo Electric Power Company are to receive the support of the Japanese government to build one of the biggest solar power plants in the world in Bulgaria. The power plant is to be built in the Bulgarian town of Yambol by March 2012 and it will cost over 100 billion Japanese yen (1.2 billion USD), AFP reports. Information about the project was announced last August but according to the perimeters announced then the power station was a lot smaller.
As a EU member state Bulgaria must increase the number of its renewable energy sources fast in order to decrease its carbon dioxide emissions. With the aid of the Japanese technology Bulgaria’s target is to ensure 16% of its electricity consumption from renewable energy sources compared to the present 7%.
The power plant will start with a capacity of about 50 MW as it will be constantly increased to reaching 250 MW in 5 years.

2010-11-05 01:12:30
Bulgaria, Albania Economies 'Doing Better' than Romania
The Bulgarian and Albanian economies are performing better than Romania's, Romanian newspaper Cotidianul commented a day after an IMF mission wrapped up its visit to the country to review its progress under a EUR 13 B loan agreement signed last year.

The article cites IMF mission head Jeffrey Franks, who said that Romania's gross domestic product is expected to contract by 2% for the whole of 2010.

The International Monetary Fund Monday estimated the Romanian economy will return to quarterly growth in the fourth quarter of 2010, followed by more consistent growth of 1.5% in 2011.

"The figures look promising especially bearing in mind how hard Romania was hit by the global downturn over the last two years. Still Romania's economic recovery is lagging behind all other European countries and even neighbors such as Bulgaria are faring better," Cotidianul writes.

The International Monetary Fund expects Bulgaria's economy to grow from 0% to 0.4% in 2010 as the country is going through its first recession in twelve years.

The Washington-based lender projects this year's inflation to be moderate, while the current account deficit is expected to fall below 3% of gross domestic product.

According to IMF experts Bulgaria's economy will gain momentum next year and may expand by 2%-2.5% on an annual basis.

Bulgaria aims to have a budget deficit of 2.5% of gross domestic product and a growth of 3.6% in 2011, according to the budget draft. The economy contracted by 5% in 2009.

'Bulgaria is benefiting from stronger exports and the economy is poised to stage a gradual recovery,' the IMF said in a statement.

Bulgaria is currently going through its first recession in 12 years after a three-year lending boom stalled and foreign investments dried up.

Earlier this year, the government adopted a package of austerity measures, freezing public pays and pensions in a bid to reduce the bloating deficit.

It revised up to 1% its economic growth forecast for this year, pinning its hopes on increasing exports.

Romania was hit hard by the global downturn in 2009, when it posted an economic decline of 7.1%. Analysts have forecast the country won't exit the recession until 2012.

2010-11-05 01:11:58
Sofia's industrial building permits on the rise
The number of industrial building permits in Bulgaria's capital city has started growing, which was seen as an encouraging sign for the country's economy, Sofia chief architect Petar Dikov told a construction and property forum.

The new permits increased by 20 per cent in annual terms in the first half of 2010, according to data from the National Statistical Institute (NSI).

Over the six months, Sofia granted a total 76 permits for projects categorised as "other buildings" with a gross area of about 37 000 sq m, compared to 55 permits for buildings with a total space of 31 000 sq m in the same period of the previous year.

Proceeds from issuing construction permits have reached 15 million leva since the start of 2010, with office buildings and commercial centres contributing for the bulk of the money, Dikov said.

Meanwhile, frozen residential projects were now being unblocked, Dobromir Ganev, head of consultancy GVA Sollers Solutions, said. According to Ganev, the number of frozen projects in the country approached 290, which spanned a total six million sq m, over half of which featured commercial and office space.

The number of suspended projects in the capital totalled 81, spread over a projected two million sq m combined, including projects of 250 000 sq m now coming to completion.

The unblocking of projects hinged on the country's macroeconomic indicators, in particular foreign investment, banks' lending policy and competition, Ganev said, adding that foreign direct investments in Bulgaria's construction sector have declined 1.5 per cent so far this year compared to 2009.

The country's construction output has shrunk by 23 per cent compared to 2009 and 68 per cent compared to 2008, which is the largest drop among European Union member states, according to Svetoslav Glossov, chairperson of the Bulgarian construction chamber.

Glossov said that the hoped that the construction segment would start to recover in the coming years, but at a slow pace.

On his part, Dikov predicted a new boom in the construction industry within two to four years.

2010-11-05 01:11:15
Lonely Planet: Bulgaria among Top 10 Countries to Visit in 2011
The globally renowned travel guide Lonely Planet's has ranked Bulgaria fifth among the top 10 countries for 2011.

The first four spots are taken by Albania, Brazil, Cape Verde and Panama, while Vanuatu, Italy, Tanzania, Syria and Japan are behind Bulgaria.

"For those who looked, Bulgaria has always had its moments – in its biggest cities, on its snow-capped peaks and great-value ski fields, on its golden-sand beaches and in ancient Black Sea port towns. Yet, over the years, with history's contribution, Bulgaria has got lost amid its more famous neighbours. From the south, the Ottoman soldiers of present-day Turkey ran Bulgaria for 500 years. Legendary toga-clad Greeks to the south mocked Bulgaria's strong wines (before adopting the same). More recently, the Romanians claimed the share of fame via distinguishing Latin bloodlines and Transylvania's mystic, fancy appeal. Bulgaria sometimes feels like the odd guy out in this corner of Europe. But things are changing. Now proudly part of the 21st-century EU, Bulgaria has enjoyed more attention – and self confidence. Its ski slopes are de facto destinations for Europeans looking for cheaper alternatives, empty patches of lovely Black Sea beaches can still be found, and its quietly brilliant wine industry is flourishing. Whatever happens, Bulgarians will take it in their stride. As one local song goes, 'We win, we lose...either way we get drunk, we're Bulgarians!' That oughta be on a T-shirt," the publication reads.

The "Lonely Planet" travel guides are considered to be the fastest and among the best in the world. The first one, dedicated to travels in Asia ,was published in 1974. Today Lonely Planet is the largest tourist information publisher in the world.

2010-02-18 07:18:07
Bulgaria one of best destinations for retirement
Bulgaria has been named as one of the most affordable retirement destinations. It was also the only European country to appear on the list.

The list, compiled by Global Post, said that the country is "much cheaper" than other European destinations, yet is still extremely accessible.

A number of South American countries appeared on the list, including Costa Rica, Ecuador and Argentina. However, the website explained that medical facilities may not be up to the same standards as those seen in the most developed nations.

South Africa also made it on to the list, with Cape Town being named as one of the best destinations to retire in.

"High quality medical care is available in major cities. Less expensive private hospitals have made South Africa a destination for plastic surgery tourism," the website explained.

Malaysia and Thailand were named as two possible retirement destinations in Asia

2008-12-08 18:36:43
Increase in Tourism in Bulgaria
Holidays in Bulgaria are becoming increasingly popular. Initial data reported by the State Tourism Agency's chairwoman, Anelya Krushkova, shows that over 4.3 million foreign tourists visited Bulgaria from January to August this year. This represents a 15% increase on the same period last year.
Foreign tourists spent more than 1.5 billion euros during this time, representing an increase over last year of 12.1%. As Bulgarians themselves become wealthier, in the same time period, nearly 4 million travelled abroad, spending 911 million leva in the process. This is a 25% increase compared with the first eight months of 2007.
Despite the poor sterling to euro exchange rate, Brits make up a significant proportion of this number. With Germans top, Britons second and Scandinavians third.
This year Bulgaria has been showcasing the country at 67 big international exhibitions, notably at the world's third largest tourism show which was held in Moscow. Television promotion was also undertaken with ads on CNN, Eurosport and Euronews. The State Tourism Agency is hoping to increase its advertising budget from 3.8 million leva with EU funds

2008-12-08 18:34:56
Property Prices in Bulgaria remain stable
The prices of residential property in Bulgaria remain stable for now despite the record plunge of the prices on a global scale for the last quarter due to the financial crisis. This is what a research of the British real estate company Knight Frank shows.
The UK, where residential property prices dropped by 4.6 percent in the last quarter, is one of the countries most affected by the crisis together with Latvia, Norway and Canada.
Residential property prices in Bulgaria, Slovakia and Russia still mark a stable growth although for the last quarter there is a three-percent decrease there as well, Knight Frank note.

2008-12-08 18:32:53
TAX valuation of properties increases by 50%
The tax valuation of properties in Bulgaria is to increase by 50 percent in 2009. This is what the changes in the Law on Local Taxes and Fees proposed by the Ministry of Finance and adopted on second reading in the Parliament stipulate.
What are to be corrected are the location coefficients which have the greatest weight in defining the tax valuation. What is taken into consideration is the location of the property – by category and zone, whether the property is within construction limits or outside them, whether it is in a holiday home zone and for industrial and farming properties – whether they are in an advantageous or disadvantageous position regarding the infrastructure.
The increase in the valuation is done due to the increase in market prices of real estate and the lagging behind of the tax valuations. Meanwhile, property tax promilles will decrease and for the next year they are offered to be between 1 and 2 promilles (currently they are between 1.5 and 3 promilles). This means that the highest property tax will amount to 2 thousandths of its valuation. This way despite of the increase in the tax valuation the end sum property owners pay will not change, the Ministry of Finance claim.

2008-07-22 15:13:21
Bulgarian Real Estate Prices to Go up Between 8 and 15 Percent
The increase of prices of real estate in Bulgaria from the beginning of July up to the end of 2008 will be between 8 and 15 %, an analysis says.
The forecast is similar to the percentage in the first half of the year, as according to brokers by the end of June property prices in the country have gone up by 12 percent.
The greatest increase is reported in the town of Rouse (24.3) where the prices in some areas are catching up those in Sofia and Varna. The real estate prices in Sofia have gone up by about 9%, in Burgas– by 5.97%, in Plovdiv – by 19.38 and in Veliko Tarnovo – by 12.59%.
Experts also forecast that during the rest of 2008 the demand in the country will remain stable as there will be a higher interest in the gated developments.
The rental market is also witnessing a price increase but compared to the past period the dynamics there is lower. The greatest increase in rental prices is in Sofia. There are more and more quality apartments offered on the rental market in new or well-kept buildings. In terms of demand there is higher interest in apartments in luxury new buildings with quality furnishing.

2008-07-16 11:56:24
Irish Air Lingus to Fly Dublin Sofia
Irish low-cost airliner Aer Lingus announced it would start a new twice weekly service between Dublin and Sofia for its winter 2008 schedule, along with new services to Hamburg, Newcastle, Salzburg and Agadir. In addition, the company will increase the frequency of flights to a number of other European destinations, a company media statement said.
Aer Lingus currently operates a flight to the Black Sea resort of Burgas, which was launched earlier this year.
Enda Corneille, Aer Lingus corporate affairs director, said the new serivce "demonstrates our response to the continued consumer demand across our route network and is further testament to our proposition of low fares and great service," the company statement said.

The new flights are scheduled to start October 28 2008.

2008-07-16 11:52:50
Low-cost airline launches new Bulgarian service
People in north-west England who own property in Bulgaria are being targeted by low-cost airline easyJet.
The budget carrier has confirmed that later this year, it will begin offering passage between Manchester Airport and Sofia
This will help open up the Bulgarian capital to leisure travellers in the north-west, a development which could lead to more people choosing to visit the city.
However, easyJet also believes that the route will be useful for many foreign property investors, as Bulgaria is currently a very popular location among this group.
The airline commented: "The service to Sofia is ideal for the growing number of second home owners from the region investing in the Bulgarian market."
Passengers will be able to fly between Manchester and Sofia three times a week from December 2008.
This comes after analysts at Amberlamb said a number of strong fundamentals are supporting the Bulgarian housing market, such as the country's growing tourism industry.

2008-05-07 16:52:25
Three Golf Complexes to Be Built near Sozopol
Three golf courses are to be constructed in the area between the villages of Ravna Gora and Izvor, Sozopol Municipality. Each of them will have an area of about 1,000 decares as the main part of the land is owned by the municipality, Panayot Remzi, the Mayor of Sozopol, said.
As part of the management program a number of measures for changing the profile of the tourists have already been taken as the aim is to attract more and more solvent guests. Through the golf projects Sozopol will attract serious investors for partners. The municipality will provide terrains of between 500 and 1,000 decares and will also assist the investors in buying private plots of land.
According to the forecasts the future sport complexes will also include additional private terrains in order to satisfy the increasing interest on the part of the investors.
We have advantages over the other municipalities therefore we will manage to build our golf complexes faster, Sozopol Municipality’s Chief Architect Roumen Alexandrov said. The municipality’s strategy also includes the construction of a big amusement park over an area of 300 decares in the zone between the Sozopol-Bourgas road and the bay near Gradina camping site.

Airport and purifying stations
The three golf courses will be complemented by an airport whose runway will be 1,800 m long – sufficient to service small planes.
The Sozopol Airport will be situated between the villages of Ravna Gora and Izvor which has also been included in the general structure plan. The Municipality is expecting to attract great interest on the part of the investors.
It is already certain that the land around the airport will be re-grouped in order to secure sufficient terrains. The data shows that the terrain is extremely suitable for an airport as there is already an agricultural airport there that is not functioning but which can be used as a basis for the new airfield.
The municipality also has great plans regarding the infrastructure in the area of Ravna Gora, Izvor and the other villages around them. In the next couple of years all the problems related to the water-main network, the sewerage system and the streets in these areas will be solved.
The purifying station in Sozopol will also start functioning by 2010, as local purifying stations are planned for the golf complexes and their construction has been coordinated with the Bourgas Regional Inspectorate of Environment and Water.

2008-01-14 12:19:17
Bulgarian Property Market 2007 Turnover Reached 11bn Euro
Property market was the absolute economic leader for Bulgaria's economy in 2007 with a record-breaking turnover of 11.36 billion euro, a real estate agency data showed.
The sum was the total value of deals with land and buildings in the country over the period.
In 2006, turnover in the sector was close to nine billion euro, Pari daily said.
According to experts, the increase in the number of property deals and in the property prices was the most accurate measure for the real estate market situation.
The data shows that the pace of price increase was twice faster than in 2006, thanks to a good mortgage market, relatively high annual revenue of properties and the weak impact of the world financial crisis in Bulgaria. The number of property deals in 2007 is expected to reach 292 000.
The property market stimulated construction development, Pari said. The sector ranks among the fastest developing in Bulgaria in 2007 with a growth of 15 per cent on annual basis.
According to the Bulgarian Construction Chamber, the sector turnover would reach 11 billion leva.
Bulgarian Entrepreneural Chamber in Building president Nikolin Gavrailov said that the lack of modern apartments, retail and administrative buildings caused the construction boom. The investment growth in tourism, production and the need for a modern infrastructure also stimulated construction, he said.
Construction sector growth is expected to be between 12 and 16 per cent annually until 2010, he said.

2007-09-24 16:40:21
Bulgaria enters Top 10 in Investments
Bulgaria has entered the Top 10 in foreign investments. An EIU report points out that Bulgaria is among the Top 10 countries listed in the chart for implemented new investment projects, funded by foreign capital in 2006. In 2006, the number of projects realized in Bulgaria grew up by 104,3% to a total of 286. For a comparison, the same number of projects for 2005 was barely 140. Thus, on worldwide-scale, this country holds a 2.42 % of all projects implemented last year. Ahead of Bulgaria are countries like Poland, Germany, Romania, and Russia. The first place belongs to China, where foreign investors have financed 1,378 new projects during in 2006.

2007-08-19 23:06:55
Largest Yacht Harbour Opens In Bulgaria's St Vlas Resort
The southern Black Sea resort of St Vlas have the largest yacht harbour in Bulgaria.
The harbour's capacity is 300 yachts, 50 of which in the royal category exceeding 25 m in length, Bulgarian National Radio reported.
Dinevi brothers are the investors in the harbour. Each yacht place has been provided with electricity, water supply, digital TV, telephone, fax and wireless internet connection.
European Integration Minister Gergana Gruncharova attended the opening. Bulgarian singers Lili Ivanova and Toni Dimitrova performed for visitors. The show finished with fireworks.

2007-08-19 23:02:59
Burgas will have a new harbour station
Burgas will have its harbour station. It will be part of the so called unified transport centre, which will be built in this seaside town. A new harbour station is proposed in each of the three architectural designs submitted for public discussion.
According to the initiative, a zone for public access to the transport centre, combining the three types of transport - rail, coach and sea, will be created in Burgas. The idea is based on the experience of big European port towns. “The realisation of the project will result in a unified transport centre providing a quality service to the public and will offer an opportunity for the development of a yachting port in Burgas”, announced Petar Mutafchiev, Minister of Transport, in June, immediately before the discussion.
He emphasised that this will be the first inter-modal transport complex in Bulgaria. The next one will be built in Varna. “The construction of the transport centre will contribute greatly to the development of tourism and stimulation of business”, added the Minister.
There are two possibilities for financing the project - from structural funds of the European Union or through public-private partnership.
The three architectural designs plan to relocate the existing coach station in order to open the central pedestrian street "Alexandrovska" to the sea; a harbour station; a yachting port; commercial zone and entertainment and attractions areas. The key characteristics of the new transport centre are the sea elements and a unique character, and the ambition is to make this new zone the emblem of the town.

2007-08-19 23:00:46
Bulgaria to spend 2 billions on infrastructure by 2013
One billion euro will be invested in road construction and reconstruction over the next six years. By 2013, as much will be invested in Bulgaria’s transport infrastructure, announced Pmrime Minister Sergey Stanishev and Transport Minister Petar Mutafchiev during their inspection on the the construction of a railway connecting Plovdiv and Svilengrad yesterday.
Close to 100 million euro of the subsidy on Transport programme will be spent on road construction and reconstruction. Another 580 million euro will go for railroad infrastructure. And, 158 million euro are going to be spent for improvements of water transport, Neli Yordanova, director of Coordination of Programmes and Projects Directorate at the Ministry of Transport.

2007-08-16 13:15:38
UK low-fare EasyJet steps in Bulgaria, flies Sofia-London
British airline EasyJet announced yesterday it would add seven new routes to its network this autumn, including Bulgaria. EasyJet, which is considered to be the second-biggest low fare airline company after Ryanair, will start regular flights from Sofia to London. The route will be serviced three times weekly on Tuesdays, Thursdays and Saturdays from Sofia airport to London Gatwick. The virgin flight will be conducted on November 6. Prices stand at EUR 33.99 for a one-way ticket and EUR 75.77 for a return ticket, airport fees included.
A month ago London-registered low-cost carrier Wizz Air, the first no-frills carrier to enter the Bulgarian market, announced the launch of new flights from Sofia to Dortmund. This is the airline's third route from Sofia. It also services flights from the Black Sea airports of Varna and Burgas.
Germanwings, Easyfly, Sky Europe, My Air, Air Italy and Norwegian Air are the other low-fare airline companies conducting flights from the three Bulgarian airports.
Data shows that no-frills airlines account for about 40-50% of the aviation market in the country.
Bulgaria attracted a number of low-cost carriers thanks to its accession to the European Union and fast economic growth.

2007-06-05 12:29:48
Bulgaria emerges as retirement hotspot
Bulgaria is now attracting a considerable amount of investment from retirees and property tycoons, according to new research.
Figures from the Bulgarian National Bank reveal that foreign individuals and companies spent €310 million on real estate in Bulgaria during the first three months of the year. This represents an increase of 63 per cent on the same period last year.
According to the Sofia Echo, foreigners bought bulgarian properties worth €1.1 billion in 2006, but the new figures from the Bulgarian National Bank indicate that 2007 will surpass this figure comfortably.
Bulgaria's Black Sea coast is often compared to the Costa del Sol but properties in the region can typically be acquired for much less money then in Spain. It is partly for this reason that many of Bulgaria's more developed towns and villages are appealing to retirees seeking a bargain.
Sofia has proved similarly popular, aided by accession to the EU, and many analysts have speculated that prices in Bulgaria will continue to rise in the years ahead.
Retirees from around the world have also poured money into Bulgaria's ski resorts, which are becoming increasingly popular each year. Bansko, Borovets and Pamporovo are all well-established ski resorts and the properties built around these areas have been exceptionally popular with investors and those hoping to retire abroad.

2007-04-20 16:00:56
Bulgaria Opens Summer 2007 Season
The summer season for tourists in Bulgaria kicks off on April 20, month and a half earlier as compared to previous years.
This is the first time ever that the summer season is given the go-ahead that early. The event will be marked by a ceremony at the Golden Sands coastal resort, to be attended by Prime Minister Sergey Stanishev.
Official estimates forecast a 6.4% rise in the number of foreign tourists coming to Bulgaria this summer year upon year, mainly thanks to the great interest of Russian tourists.

2007-04-11 17:22:17
10% of the Investments in Eastern Europe to Flow in Bulgaria
Some ten percent of the expected new investments in Eastern Europe will enter Bulgaria, because the country continues to attract foreign investors, the Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) stated in a report.

Austria's central provider of financial services and information to exporters and capital markets measured the economic climate in 19 Central and Eastern European countries. The research showed that Bulgaria is very attractive and it ranks among the top four countries in the list.

About 170 project have been planned for the region and 10% of them will go towards Bulgaria, OeKB experts say. Those projects are mainly in the industry sector. Bulgaria's positions are very good when it comes to the companies' expectations for the country's overall economic development in the following months

2007-03-21 20:50:24
Bulgaria's Ownership Act changes
On March 9, Parliament gave its final approval to amendments to the Ownership Act, opening the way for foreigners and foreign legal persons to acquire ownership rights over land, forests and forest stock land tracks and agricultural land. They can also acquire ownership over land by inheritance by law.

Reporting from Parliament, Bulgarian news agency BTA said that Parliament had agreed that foreigners and foreign legal persons not permanently resident in Bulgaria will be able to acquire land for a second home after the expiry of the term set in Bulgaria’s EU accession treaty. Moreover, a foreign state or intergovernmental organisation will be able to acquire ownership of land and buildings and limited real rights over immovable property in the country on the basis of an international treaty, a law or an act of the Cabinet, Parliament decided.

Foreigners who acquire ownership rights over forests or forest stock land tracks through inheritance under a law but do not meet the conditions of Bulgaria’s EU accession treaty will have three years to transfer their ownership rights to persons eligible to acquire them unless otherwise provided for by another law. After this period the state will have the right to buy the forests or forest stock land tracks at prices set by a Cabinet ordinance.
Foreigners and foreign legal persons will have the right to ownership of forests and land in protected areas, provided these are not exclusive state property, under international treaties ratified by Parliament by a two-thirds majority, observing the requirements of the Protected Areas Act, the Agricultural Land Ownership and Tenure Act and the Forests Act in line with the terms and conditions laid down in Bulgaria’s EU Accession Act. Foreigners will also be able to acquire ownership of forests and land in protected areas, which are not exclusive state property by inheritance. Foreign states cannot acquire ownership of forests, land and water basins in protected areas, Parliament decided.

Citizens of the EU who are agricultural producers wanting to establish themselves permanently in Bulgaria and have been registered under BULSTAT will be able to acquire ownership of land and forest property for farming. Foreigners who acquire ownership rights over agricultural land through inheritance under a law but do not meet the relevant conditions stipulated in Bulgaria’s EU accession treaty will have three years to transfer their ownership rights to persons eligible to acquire them.

2007-03-09 10:33:26
EU Accession Drives Bulgarian Real Estate Prices Up
Bulgarian real estate prices rose by 10% in the first two months of this year after the country's accession to the European Union, 24 Hours daily reported on Tuesday.
Demand continues to grow, driven by the increasing number of young people looking to buy housing, while supply is limited.
The trend surprised industry insiders, who expected prices to stabilize after accession.

2007-03-09 10:30:36
More Air Carriers Taking Off From New Sofia Terminal
Another three companies have joined the fleet that flies to and from the new Terminal 2 of Sofia Airport.
Greek Aegean Airlines, Russia's Rossia Airlines have already serviced their first flights from the new terminal, while Italian Alitalia is expected to do so on March 7, 24 Hours daily reported.
Bulgaria Air, Hemus Air, Viaggio Air and Cyprus Airways were the first to start using the terminal after it was opened in December of 2007.
Twelve more airlines will switch to the new, more expensive, terminal by the end of March.

2007-03-02 21:35:37
Bulgaria Ranks 54 in World Tourism Destinations Classification
Bulgaria takes 54th place in the global best tourism destinations classification, made by World Economic Forum.
The list, which includes 124 countries, is headed by Switzerland, followed by Austria, Germany and Iceland.
Bulgaria's ranking is due to its natural and cultural recourses, a representative of the forum explained.

2007-02-13 14:00:19
Sofia offers cheapest residential property in Europe
There is only one European capital where residential property is cheaper than in Bulgaria's Sofia - Moldova's capital Chisinau. A square metre of residential property in Chisinau could be bought for 917 euro, while in Bulgaria the price is 1042 a sq m. The data is taken from a research made by Global Property Guide, a real estate analysis website.
According to the research rental prices in Sofia are the lowest (1100 euro per sq m) compared to the prices in other 40 European capitals.
Among neighbouring countries the most expensive is Turkey, where selling prices of apartments in Istanbul are about 2467 euro a sq m. Turkey is followed by Romania's Bucharest ( 2350 euro a sq m).
Bucharest' residential property selling prices exceed those in Brussels (2150 euro a sq m) and Athens (1833 euro a sq m).
Europe's most expensive capitals are Monaco where a sq m of luxury apartment could be bought for no less than 24 900 euro.
In Prime London prices of luxury property is about 14 522 euro.
However, Sofia is among the capitals with the highest yields in Europe - 10.56 per cent. Only yields Chisinau (14,13 per cent) and Warsaw (13,28 per cent) are higher. Because rental returns depend on risk to some extend, Europe's high yielding countries are in the east, Global Property Guide said. Other factors for high rental returns in a particular country are relatively recent arrival of the market economy, high interest rates and relatively underdeveloped mortgage markets.
Global Property Guide shares its concern about the fact that nowhere in Europe rents are keeping pace with the constantly increasing property prices. Rental returns about or below 4 per cent is considered to be "a danger signal". At the moment rental income return on apartment in Madrid is 3.15 per cent.

2007-01-26 06:54:24
Flights from Knock to Bulgaria launched
Ireland West Airport Knock and XL Leisure Group (Ireland) have launched a new holiday destination to Burgas in Bulgaria. Direct flights will operate from Ireland West Knock every Monday from May 7th to October 1st, 2007. XL Leisure Group (Ireland) recently established itself in the Irish market and is a wholly owned subsidiary of XL Airways, one of the world’s leading charter airlines.

The new operation is headed up by Bill Smith, Managing Director and Carol Anne O’Neill, Commercial Director. Both have worked for many years in the travel industry in Ireland.
For further information on holiday packages and special promotions to Burgas from Ireland West Airport Knock logon to www.xl.com or www.irelandwestairport.com

2007-01-24 14:13:03
Bulgaria home prices up 15% Y/Y in 2006
Housing prices in Bulgaria rose 15% year-on-year to an average 846.5 levs/sq m in 2006 versus 738 levs/sq m a year ago, said the national statistical authority.
The capital Sofia remains the most expensive housing market with average prices adding 10% to 1,341.8 levs/sq m in 2006. Varna is a close second with 1,316 levs/sq m (+10% y/y), Burgas with 1,227 levs/ sq m (+5%), Plovdiv with 940 levs/sq m (+9%) and Stara Zagora with 915 levs/sq m (+18%).
Vidin, in North-western Bulgaria, was the most buoyant market in 2006, appreciating by a hefty 65%. It is followed by Lovech (+48%) and Smolyan (+40%).
The price surge in Vidin is conditioned by the launched construction of a new bridge linking the Bulgarian city with Calafat on the opposite bank of the Danube river.
The boon for the housing market in Smolyan comes from its proximity to the booming Pamporovo ski resort where residential estates fetch 800-1,000 euro/sq m.
Although the Bulgarian capital commands the highest housing prices, homes in the cities in the greater Sofia area could be had for as little as 412 levs/sq m.

2007-01-17 04:44:35
Budget carriers increase flights to Bulgaria
Low cost carrier Wizz Air Monday announced it will add new destinations to and from Bulgaria with its summer flight timetable. Starting in June, Wizz Air will fly from Bulgarian coastal city Burgas to Budapest, Katowice and Warsaw. Flights to Budapest will be available from another Bulgarian coastal city, Varna. It the moment, Wizz Air flies only to London from Burgas, a route serviced by rivals Bulgaria Air, Hemus Air and British Airways.
The carrier expects to fly 150,000 passengers to and from Bulgaria in 2007.
Budget carrier Sky Europe recently said it was launching a Mon-Sat Sofia-Vienna route from March 26.
Sky Europe marketing and sales director Krasimir Tanev expects the share of no-frills carriers of Bulgaria's aviation market to increase from 7-8% at present to 20% by the end of 2007.
Ryan Air is expected to open this year routes from Plovdiv, Bulgaria's second biggest city, to Britain, Spain and Germany.

2007-01-11 04:55:12
Bulgaria’s revenue from international tourism increases
A total of 4 839 746 foreign citizens visited Bulgaria over the January-November 2006 period, the State Agency for Tourism said. This is 5.54 per cent higher compared with the same period of 2005. Of this figure, 4 103 268 of these foreign citizens visited Bulgaria for recreation and vacation without the children indicated in parents’ passports.

According to preliminary data, revenue from international tourism (without transport) for the first 10 months of 2006 came to 1 886 200 000 euro, or 4.2 per cent more than in 2005. Costs of Bulgarian citizens travelling abroad in the same period stood at 999 800 000 euro, a 13.34 per cent rise year-on-year. In the January-November 2006 period, Bulgarians took a total of 3 847 683 trips abroad, or a 1.85 per cent decline year-on-year. The largest number of Bulgarian citizens travelled to Turkey.

European Union countries continue to be Bulgaria’s most important generating market for international tourism with a relative share of 52.23 per cent.

The end of the year saw the appointment of Yordan Radev as chairman of the Bulgarian Convention and Visitors Bureau. Radev, who has been executive director of the International Fair – Plovdiv since 2001, is expected to help this new segment of Bulgarian tourism to develop at a fast pace. An example of such spurring on might be the new Sofia-Vienna route offered by the low-cost air carrier Sky Europe. The flights, occurring on a brand new Boeing 737-700, will start on March 26 and will be available every day of the week except Sunday. Passengers might be using the brand new terminal of Sofia Airport, which officially opened on December 27.

2006-09-21 10:58:51
Bulgaria Drops Visas for Britons and Americans
Britons, Americans, as well as nationals from another eleven nations holding valid passports will be able to enter Bulgaria without visas, the cabinet decided Thursday. According to the adopted amendments foreigners will be allowed to stay in Bulgaria for 90 days within a period of six months, reckoned from the date of the first entry. As the government is aligning Bulgaria's visa regime with EU standards, visas will be dropped for the citizens of North Ireland, Canada, Australia, and Mexico.
The same rules will apply for the residents of Honduras, Panama, Nicaragua, Costa Rica, Salvador, New Zealand, and Guatemala, who will be allowed to enter and stay in Bulgaria solely upon a valid passport. The decree will take effect from September 1.
The Government also approved a set of proposals to amend the Visa Agreement with Turkey. Turkish citizens could stay 90 days with a single or multiple transit visas. Until now they were allowed to enter the country for 30 days upon invitation. In a separate development the government decided that Bulgarians will be allowed a free-visa entry into Israel.

2006-08-01 09:41:23
EU citizens will need only a valid ID card or passport to cross the Bulgarian borders
Citizens of EU member states will be able to cross the country’s border with only a valid ID card or passport when their stay does not exceed 3 months. This is regulated in the government’s bill on the entry and stay of EU citizens and the members of their families in Bulgaria. The bill regulates the rules and procedures for EU citizens and members of their families to use their right of free movement and stay in EU member states as well as the restrictions to the rules with a view to public order, public security and public health. EU citizens and the members of their family who are not residents of EU member states will have all rights and obligations under Bulgarian laws and international treaties signed by Bulgaria, except for those under which Bulgarian citizenship is required.

The document regulates the types and periods of stay: short-term – up to 3 months; long-term – from 3 months to 5 years; and permanent – over 5 years. In case of a short-term stay, EU nationals need only an ID card or a passport. In order to stay for more than 3 months in the country, they have to acquire a long-stay certificate issued by the National Police Service and to be hired or self-employed in Bulgaria; to prove they have sufficient finances to cover their expenses or to be enrolled in legitimate educational establishments. The long-stay application form has to be filed at the National Police Service within 4 months of the arrival date. It is issued on the same day and is valid for an indefinite period of time.

The bill also regulates the restrictions to the entry and stay, relevant to public order, national security and public health. When a person uses counterfeit ID documents, the bill provides for fines as well as when the person prevents the competent bodies from carrying out a check.

Region:	Burgas
Property type:	Houses & Villas
Area:	140
Price:	16,500.00EURO

Region:	Burgas
Property type:	Houses & Villas
Area:	140
Price:	12,500.00EURO

Region:	Elhovo
Property type:	Land in Regulation
Area:	3000
Price:	3,500.00EURO

Region:	Burgas
Property type:	Renovated & Newly Built
Area:	160
Price:	34,500.00EURO

Region:	Burgas
Property type:	Renovated & Newly Built
Area:	110
Price:	16,000.00EURO