For the months of May and June, supply on the residential property market surpassed the demand by 50 per cent, Katya Tsenova, the executive director of Address real estate agency, told a news conference on July 21.In an attempt to evaluate the current status of the market, there were a number of contradictory statistics made public by various agencies in the past several weeks, Tsenova said.
Archive for July, 2008
Bulgarias residential property market is nearing its peak realtors
Sunday, July 20th, 2008Prices of old residential constructions in Plovdiv double
Thursday, July 17th, 2008With residential property prices up in Plovdiv, both new and old constructions continue to see demand.
Old military barracks area to turn into new Government centre
Thursday, July 17th, 2008A Government centre will be built on the area near the fourth km of the Tsarigradsko Chaussee Boulevard, known as the Poligona quot;the range quot; neighbourhood, the Cabinet decided at its July 17 session.
IKEA hypermarket one step closer to reality
Thursday, July 17th, 2008Bulgarias long wait for an IKEA of its own is one step closer to fulfilment.
Residential property prices in Bulgaria continue to rise
Thursday, July 17th, 2008House prices for the second half of the year are expected to jump between eight and 15 per cent, real estate agency Foros forecast, as quoted by website investor.bg.
Realtors construction companies facing decline in profit margins
Wednesday, July 16th, 2008The increased cost of construction materials and the standstill in property prices will push down the profit margins of the Bulgarian construction companies by 68 per cent in 2008, local real estate brokerage Yavlena said.Currently, the profit margin per build is 3035 per cent, considerably higher than the 1020 margin typical for mature markets, the realtors said.
LS Property to invest 450M euro in Bulgaria
Tuesday, July 15th, 2008LS Property, one of the major investors in Bulgaria Mall in Sofia, announced plans to develop a number of projects in Bulgaria for a total of 450 million euro, website investor.bg reported, quoting the companys executive director Miles Summerfield.
Lidl buys plot in Pazardjik for supermarket
Tuesday, July 15th, 2008The local unit of German retailer Lidl has won a competition for a 4892 sq m plot of municipal land in Pazardjik, southern Bulgaria. The company plans for the supermarket to have a builtup area of 1500 sq m and 70 parking spaces.Lidl Bulgaria upped its bid on the plot to 1.722 million leva from the initial offer of 1.5 million leva. The company is to build the supermarket in nine months. As part of the deal, Lidl Bulgaria has undertaken to invest 350 000 leva in renovating the sporting venues of the nearby Hebar complex.
Riu Hotels to run Pravets golf resort hotel
Tuesday, July 15th, 2008International hotel chain Riu Hotels amp; Resorts will take over at the Pravets Golf amp; Spa resort in Pravets, northwestern Bulgaria, Terra Tour Service, the investor in the project, said.Riu has signed on to run a hotel with more than 200 rooms in the resort for a period of five years. The 70 million leva complex, which has an 18hole golf course, among other facilities, has an area of 100 ha and should open for business by the autumn of 2009.
Rents in Sofia from steady high to high up
Tuesday, July 15th, 2008In the six month period from the beginning of the year, rental rates for residential property have increased, website investor.bg said, quoting brokers from various agencies. The professionals, however, have not been unanimous in their prognoses of how the situation would change in the second half of the year. Some say that further increase is to be expected, others do not anticipate changes.