News
Homebuilding in US at 17-year low
The number of homes and apartments being built in the US sank in July to the lowest level in more than 17 years, government figures show. Builders started work on 965,000 properties, on an annualised basis, from 1.08 million in June, the Commerce Department said. However, this was not as bleak as some had been expecting. Separately, inflationary pressures saw US wholesale prices shoot ahead by 1.2% in July - its fastest pace in 27 years. Core inflation, which strips out energy and food... [more]
Sofia Airport Handles 300,000 Passengers in July
Sofia airport serviced a total of 297,873 passengers in July, up by 17 % compared to the corresponding period of 2007, when passenger traffic at the airport stood at 254,468 passengers. The airport handled a total of 9,336 passengers on July 29, which turned out to be last month's busiest day. The Sofia airport registered an increase of 32% in the number of international charter flights. The number of passengers on such flights handled by the airport rose by nearly 45% compared to the... [more]
Outlook for Sofia Office Space Market Good
Despite the effects of the credit crunch and forecasts for an overall slowdown in economic growth, Bulgarian gross domestic product defied the expectations of economists by recording seven per cent growth in the first quarter of 2008, real estate consultants CB Richard Ellis said in a Sofia office market overview for the first half of 2008. Bulgaria remains attractive to international companies that outsource and offshore parts of their activities to the country, driven by the availability of... [more]
Housing Prices in Sofia Increase
The price of housing has increased by 21% in the first half of 2008 compared to the second half of 2007. The average price for the period is EUR 1094 per square meter, real estate agency "Address" announced. Terminal prices are seen throughout residential districts in Sofia, in which there is record increase as well as a lot of supply. These are districts like Mladost, where prices have increased by 25% for half a year, Studentski grad (Student town) - 23,46% increase and Lyulin -... [more]
Master Plan for Tsarevo Municipality Approved
Base Interest Rate Raised for 11th Time, Hits 10-Year High
As of today (1 Aug 2008) the base interest rate in the country is raised to 5.25 pp, the Bulgarian National Bank announced.This is the eleventh hike for BIR, which now reaches its highest level since 199, i e it hit a 10 year high.In July BIR was at 5.06 pp and a month earlier it was at 4.96 pp.BIR has grown 0.57 percentage points since the beginning of 2008 and 1.15 percentage points over the past 12 months.Source: Profit.bg [more]
Just Two Stocks in BG40 End July With Gains
Petrol Jsc and Corporate Commercial Bank are the only stocks in BG40 to end July with gains, Profit.bg found out. The stock of the petrol distributor added 20.83% and the bank eked 0.23%. The shares in the other 38 companies within the broad index all depreciated in July. Orgachim and Aroma lead the list of decliners with losses of respectively 38.89% and 34.19%. Sparky Eltos slipped 29.20%. Doverie United Holding and M+S Hydraulic dropped 27% and 26.7% resp, while Devin and CCB both lost a... [more]
Top Bulgarian banks raise rates in Jul
Several of Bulgaria's leading banks hiked their rates on mortgage and consumer credit programs in July, shows data of fincity.bg, the Bulgarian comparison shop portal for financial products and services. The increase in mortgage rates is 0.1% to 0.5% while the cost of consumer loans edged up 0.1% to 1.45%. Borrowers continue to shun euro-denominated loans despite the superior terms in comparison with programs in the local currency. 'This is due to the persistent belief that the lev is... [more]
Rents for Luxury Real Estate In Burgas Among The Highest In The Country
Rents of all types of real estate in the cities on the Black Sea Coast are risng during the summer months.The average rent for logistics real estate in Burgas in July was 8 eur/sqm, and for warehouse space it varies between 4.5 and 5 euros, depending on location, according to data provided to Profit.bg by Foros agency.Office rents are at between 4 and 15 euros/sqm, depending on class and location. The prices for class A office space in downtown Burgas reach 15 euros.Class B and C offices can... [more]
Bulgaria mortgage volumes pull level with consumer loans
The size of the Bulgarian banks' mortgage portfolio has now equaled the consumer credits on their loan books, shows data of the central bank by the end of June 2008. Mortgage loans topped 6.765 bln levs by the mid-year mark versus 6.802 bln levs in consumer loans. The share of mortgages in total household loans is up to 41.6% from 25.8% three years ago. The mortgage lending has been outpacing all other banking segments, posting end-June growth rates of 72.4% and 74.6% in 2006 and 2007. That... [more]
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