News
20 Percent Less Foreign Tourists on the Romanian Seaside
The number of foreign tourists on the Romanian seaside decreased by 20 percent this year, while the number of Romanian tourists who spent their holidays outside the country increased by 25 percent, according to Romanian Travel Agencies National Association (ANAT) officials.Greece, Turkey and Bulgaria are among the favorite destinations for Romanians, BusinessStandard.ro reports.Tour operators sales on the Romanian seaside increased by 5-20 percent. ANAT estimated a total 1.4 million tourists... [more]
Prices of New Homes in Hungary Projected to Rise About 7% in 2008
Hungarian real estate company Otthon Centrum projects the price of new homes in Hungary will increase about 7% in 2008, level with the rate of inflation, the Budapest Business Journal reports.Nonetheless, it still sees prices of both new and resale homes doubling in ten years, analyst Dávid Valkó said at a press conference on Wednesday.About 11,200 new homes will be completed in Budapest by year-end. Demand for resale homes is expected to fall 5%-10% during the year.Prices for... [more]
Fourth BalPEx Exhibition Starts October 10
The fourth edition of BalPEx real estate exhibition will take place in Inter Expo Center in Sofia between October 10 – 12.More than 300 projects from different segments will be presented on an exhibition area of 4,000 square meters.More than 150 companies, among which leading Bulgarian and foreign construction and investment firms, property agencies, financial and credit organizations will be presenting their businesses to individual and corporate clients.The segment of home properties... [more]
Bulgaria Boasts Highest Real Estate Price Growth Globally in Q2
Bulgaria retained its number one spot in the Knight Frank Global House Price Index with a 32.3-percent year on year growth in real estate property prices in the second quarter of 2008. Real estate property prices in the country marked a 32.3% year on year increase in the first quarter of the year. Global house price inflation continues to slow, with annual growth standing at 4.8% in the second quarter of 2008, down from 6.1% in the previous quarter, Knight Frank data show. Prices are now... [more]
Obtaining Loan For the Purchase of Prefab Panel Apartment Gets More Difficult
Bulgaria's mortgage loan market was on vacation in August after the steep growth recorded in July. The lending was also affected in the holiday month, including the volume of the loans extended and their average size. The trend was witnessed in all cities across the country and may be attributed to the holiday season and the vacations of the banking employees. A considerable amount of the loan applications were not processed and will be reviewed in the start of the active season in September.... [more]
At. Garov: Client Shift Witnessed on Holiday, Investment Property Markets
Profit.bg talked to Atanas Garov, managing director of Colliers International, about the condition of the real estate market in Bulgaria, its short-term development prospects and whether the supply has shifted towards another group of clients, different from the ones from the western countries: Mr. Garov has the slowdown of the economy in Western Europe affected the real estate market in Bulgaria? The slowdown affected the domestic real estate market a long time ago but not all its segments.... [more]
German retailer Lidl starts construction of Bulgarian outlets
German retailer Lidl will start building a pilot outlet in the city of Lovech, Northern Bulgaria, said the company. Work on another five outlets will begin by the end of 2008 to be followed shortly be the launch of construction of as many Lidl stores. The retailer hopes to have 10-12 operational outlets here by 2010. The company will also invest in a distribution center. It has bought the site for the center but did not specify the location. Lidl is part of Schwarz... [more]
Household deposits continue to be biggest resource available to Bulgarian banks
Household deposits continue to be the biggest resource available to the local banks, accounting for 36% of borrowed capital in the system, shows data of the central bank on the balance sheet of the industry by late July. In a month, Bulgarian households deposited a further 480 mln levs to bring their deposits to 21.3 bln levs by the end of July. Corporate deposits added 538 mln levs in a month to 20.5 bln levs. Those two segments increase by a monthly 1.6% the size of borrowed funds. Their... [more]
Balkans mythbusting
Clients doubtful about the Balkan region? Balkan Holidays’ Chris Rand gives you the tools to sell Bulgaria, Croatia, Serbia, Romania and Montenegro Myth: I’ve heard pickpocketing and petty crime is a problem Chris says: In Croatia this is not a problem at all. In Bulgaria, because many resorts tend to be busy in the high season, there have been occasional incidents of pickpocketing. However, there is now an increased number of police in the resorts to help... [more]
A doubled number of ski routes threatens Vitosha
A new ski zone could be constructed on Vitosha Mountain, home to a nature park on the outskirts of Sofia, the coalition of non-governmental organisations To Sustain the Nature in Bulgaria (SNB) wrote in a media statement on August 26. On August 27, the Vitosha nature park office confirmed that in July, it had received an investment proposal for the new winter resort. The investment proposal contradicted the 10-year management plan for Vitosha nature park that was approved by the Cabinet in... [more]
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