Bulgarian banks have started introducing stricter requirements on applicants seeking loans to buy property in Bulgarias bigger resorts, including Bansko and Slunchev Bryag Sunny Beach, over worries that these locations faced overdevelopment, credit consultants said, as quoted by investor.bg on June 30.
Archive for June, 2008
Bulgarian banks go cold on loans for overdeveloped resorts consultants
Sunday, June 29th, 2008Sofia City Hall to ban construction in Studentski grad
Sunday, June 29th, 2008Construction in Studentski Grad Students town borough will come to a complete halt in a matter of several weeks, Monitor daily reported, based on Sofia mayor Boiko Borissov and chief architect Petar Dikovs intentions to issue an ordinance to ban further construction of the area. It is quite possible that this will be a temporary solution, and, as of now, it not clear when the ordinance would be implemented or how long it would be in effect, Monitor daily said. A random check in Studentski grad done by the newspaper in March revealed that there were close to 60 projects in the works and just as many planned to begin in the near future.
Sofia mall market to reach saturation soon
Wednesday, June 25th, 2008In 2008, entrepreneurs still find commercial and business centres the most appealing projects for investment. But there is a possibility this tendency to change after 2010, when all planned construction is completed, the market in Sofia might become saturated, consultants Arco Real Estate said in a statement.
Greece to host technological fair in September
Wednesday, June 25th, 2008On September 614, the Greek city of Thessaloniki will host the 72nd international fair, which traditionally gathers exhibitors from all over the world as well as boasts 12 thematic events.This year, the fair will present participants from 26 countries among which are South Africa, Cyprus, Brazil, India, Turkey, Romania, France and Italy, as stated on the events official website.
FDI in real estate drying out
Wednesday, June 25th, 2008Foreign direct investments into real estate has been losing momentum in the first quarter of 2008, the Bulgarian National Bank BNB said in a report covering the JanuaryMarch period.
FDI in real estate drying out
Thursday, June 19th, 2008Foreign direct investments into real estate has been losing momentum in the first quarter of 2008, the Bulgarian National Bank BNB said in a report covering the JanuaryMarch period.Investments worth 333.4 million euro in JanuaryMarch is the lowest quarterly figure reported for the past two years, the BNB report noted.
Sofia sports complex to undergo renovation
Thursday, June 19th, 2008Cherveno Zname Red Flag sports complex in Sofia will be renovated into a modern sports centre that would be able to host top international sports events, ConstructionEntrepreneurial Holding EOOD CEH, the contractor picked for the revamp, said, as quoted by Dnevnik daily on June 19.CEH was contracted by executive agency Social Activities with the Defence Ministry after winning a public bid to this effect. The ministry owns the land on which the Cherveno Zname complex is located.
Residents of Sofias Mladost district protest against construction plans
Thursday, June 19th, 2008The initiative committee of Sofias Mladost districts residents, together with Zelenite political party Bulgarian Greens, will stage a rally on June 23 at 7pm in front of the Mladost district hall to protest against the districts urban plan, which envisions building up areas between blocks of flats and the destruction of green areas in Mladost.The committee has created a website, where they put pictures and descriptions of all places that would be quot;destroyed quot;, and called on fellow residents to Come to clearly express our standpoint and disagreement with this madness
Sofias Vuzrazhdane Park to stay constructionfree
Thursday, June 19th, 2008Sofia mayor Boiko Borissov said on June 18 that there would not be any building activity in Vuzrazhdane Park while he is city mayor, municipality spokesperson Tsvetanka Krusteva told the Sofia Echo.As previously reported by The Sofia Echo, competing claims over the ownership of a large land plot from Vuzrazhdane Park near Sofia centre have sparked a row on June 6.
Plovdiv residents spending more on remodelling
Wednesday, June 18th, 2008An increase of eight to 10 per cent in loan applications for remodelling and furnishing has been registered in Plovdiv, the local office of real estate consultants Europolis said in a statement.Europolis conclusion is drawn from the data provided by the Plovdiv branches of major banks. The average amount for the renovation of a twobedroom apartment is between eight thousand and 12 000 euro, a threebedroom home will take up to 18 000 euro, while to satisfy their taste for luxury, some clients may request up to 30 000 euro.