Price increases in the lodging property sector worldwide slowed down in the first quarter of 2008 to reach 6.1 per cent on an annual basis. But Bulgaria still heads the price hike, according to the Global House Price Index of UKs real estate company Knight Frank.The price increase registered in Bulgaria was 31.5 per cent for the first quarter of 2008, investor.bg said. Bulgaria also occupied first place in the same ranking for the last quarter of 2007 with a 33.7 per cent price increase.
Archive for May, 2008
Bulgaria tops Global House Price Index
Thursday, May 29th, 2008Construction of Central Life City Estates begins
Tuesday, May 27th, 2008On May 28, Nike Investment Group turned the first sod of their project Central Life City Estates in Sofias Tsar Simeon street. The development will have 27 residential and four retail units on total builtup space of 4000 sq m.
Mall Stara Zagora to cost 72M euro, open doors in 2010
Monday, May 26th, 2008Real Estate Services Bulgaria, developer of retail complexes Mall of Sofia, Mall Plovdiv and Mall Rousse, announced plans to build a fourth retailentertainment complex in Stara Zagora, RESB said in a statement.RESB will be partnering with Gradus1 OOD, active in food production and a leading company on the Bulgarian poultry market. The 72 million euro project was showcased on May 27 in Stara Zagora to city officials, among them mayor of the town Svetlin Tanchev
Simeonovo River Park to cost 100M euro
Monday, May 26th, 2008Sofias future Simeonovo River Park residential development will cost about 100 million euro to build, Ivo Koloushev, director of Bulgarian developer Litos, told SeeNews newswire.The company controls a 50 per cent stake in the project and the remainder is in the hands of an unnamed foreign investor.
Romanias standardproperty prices ratio better than Bulgarias
Sunday, May 25th, 2008Living standards in Romania were developing in greater harmony with the countrys property prices than in Bulgaria, Teodora Dimitrova, executive director of ERA Balkan Estate said at a news conference on May 26 2008. ERA is the first franchising network in Europe for property sale, Focus news agency said.On May 26, ERA announced its entering the Romanian real state market.
Rental prices highest in Varna, local daily says
Sunday, May 25th, 2008Rental prices in the city of Varna on the Black Sea were the highest in the country, local Narodno Delo daily said on May 26 2008.According to the paper, luxury apartments registered the highest increase, 22.1 per cent, compared to May 2007. Rents of unfurnished housing went up by 19 per cent, while furnished ones increased by 17 per cent.
Sofia court legalises disputed hotel
Thursday, May 22nd, 2008The administrative court in Sofia overruled on May 22 a decision by the National Construction Control Directorate NCCD that had ordered Hotel Dunes in Slanchev Bryag to be torn down. Hotel Dunes is owned by the VAI holding of former businessman and the owner of the LokomotivPlovdiv football club, Georgi Iliev, who was murdered in 2005. The hotel is built over the former site of restaurant Dune, Dnevnik daily said.
Q1 2008 construction permits number down
Wednesday, May 21st, 2008Bulgarian authorities have issued 3505 construction permits in the first quarter of 2008, a decrease of nearly 25 per cent over the previous three months, data from the National Statistical Institute data showed on May 21.
Hungarys SCD Holding to expand to Bulgaria, Romania, Croatia
Wednesday, May 21st, 2008Hungarian property developer SCD Holding unveiled plans to expand to Bulgaria, Romania and Croatia, Hungarian newspaper Napi Gazdasag reported on May 21, as quoted by bbj.hu.In Bulgaria, in particular, it would hone its attention to office and commercial property, the newspaper quoted SCD spokesperson Peter Elkan as saying. In Romania it will focus on residential property and in Croatia on tourism.
Q1 2007 construction permits number down
Wednesday, May 21st, 2008Bulgarian authorities have issued 3505 construction permits in the first quarter of 2008, a decrease of nearly 25 per cent over the previous three months, data from the National Statistical Institute data showed on May 21.