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Office, 25 sq.m, city of Varna, Downtown
€ 230
For rent
2 BRS Apartment, 100 sq.m, city of Varna, Downtown
€ 450
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2 BRS Apartment, 100 sq.m, city of Sofia, Sofia downtown, Patriarch Evtimii Blvd
€ 500
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House, 160 sq.m, Dobrich Region, Obrochishte
€ 750
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2 BRS Apartment, 80 sq.m, city of Sofia, Dianabad, Str. Loven park
€ 390
NEWS
ABOUT BULGARIA City-planning Culture Ecology Finance and Taxes Interesting Tourism News from MIRELA Real Estate Agency Housing loans Real Estates Prices and Analyses Construction The real estate market at present Economy10-09-2010
Luzhkov Opens Moscow-Owned Resort on Bulgarian Sea Coast
Mayor of Moscow Yury Luzhkov and Bulgarian Prime Minister Boyko Borisov have foramlly inaugurated a resort complex on the Bulgarian Black Sea coast owned by the Russian capital. The Raduga complex, which is part of the Kamchiya resort, was built in 12 months, with an investment of about EUR 40 M. The complex is owned by the city of Moscow, which invested in it in order to turn it into a recreational facility for Russian kids and pensioners. The "Children's Health Camp Raduga", as it is formally called, has about 600 beds and the capacity to host a staff of 100. About 11 000 Russian kids and 3500 ...
08-09-2010
Sofia's 'The Mall' Boasts 100% Store Space Lease
The shopping center in Bulgaria's capital Sofia known as The Mall achieved 100% lease of the store space, according to Colliers International, exclusive rent consultant. The British fashion chain Next, one of the key tenants, opened Wednesday the doors of its first store in Bulgaria in The Mall. The other new brands on the Bulgarian marker are the Greek clothing company Pink Woman, and the Spanish lingerie chain Oysho, part of the Inditex group, already well-known in Bulgaria with its labels Zara, Bershka, Stradivarius, Pull & Bear, and Massimo Dutti. The Colin's and Levi's stores opened in August ...
08-09-2010
Greece's Bluehouse to Ink EUR 27 M Deal in Bulgaria
Greek investment fund Bluehouse Capital is to acquire four properties of Sofia-based ERG Capital 1 and ERG Capital 2 REITs in a EUR 27 M deal, according to media reports. Bluehouse Capital has already signed preliminary contracts with the two companies, majority-owned by the Bulgarian-American Enterprise Fund (BAEF), Dnevnik daily reported, citing insiders to the negotiations. The Bulgarian subsidiary of real estate consultants Colliers International has been picked as consultant on the deal.Last year Bluehouse Capital acquired for EUR 27.3 M the building complex Auto Union Centre, which is located ...
08-09-2010
Real Estate Prices at Bulgaria's Potential F1 Track Skyrocket
A week after it was announced that Bulgaria might built a Formula 1 circuit, the real estate prices at its future site near Sofia have skyrocketed despite the fact that the initiative has been troubled by an international scandal. The properties near the village of Dobroslavtsi right outside of Sofia to the northwest, which is expected to host the Formula 1 racetrack on a former air base plot, increased by 50%-75% overnight, according to bTV. The private channel reports that the rumors around the future F1 site are not the only the locals at Dobroslavtsi have been targeted by buyers for their ...
03-09-2010
Cash is King as Bulgaria Hotels Seek to Change Hands
As sellers of property, hotels included, are going through hard times in Bulgaria, most deals are a result of cash payments, experts say and forecast that cash will remain king. “Due to the restricted financing, deals can be concluded only by investors with money at hand. The forecasts for 2010 can best be described as “cash is the king,” Anna Rizova-Clegg, Country Managing Partner in the Sofia office of DLA Piper, the international legal practice, said in an interview for Novinite.com. A survey of the hotel and hospitality industry by DLA Piper found that 22% of all respondents – executive directors ...
03-09-2010
Russian Real Estate Website Enthusiastic about Bulgaria
Bulgaria is a worldwide leader in residential and commercial real estate and will remain to be so, writes Russian real estate analytic portal RWay.ru Thursday. The website lists the following five pluses of buying in Bulgaria: legislation favorable to non-resident investors, low prices and prospects for increase in worth. The article states that in spite of a considerable drop of prices since 2008 and various other drawbacks such as property with unserviced loans, unfinished construction and overconstruction, there is a significant positive outlook for Bulgarian real estate. It claims, largely ...
03-09-2010
Bulgarian Govt Refashions Notorious Army Building Project in Sofia
Bulgaria's Cabinet has decided in favor of the partial completion of a controversial construction project of the Defense Ministry in downtown Sofia. The so called National Army Complex is known also as the "military NDK" because it is likened to NDK (i.e. the National Palace of Culture) as it is located close to it in downtown Sofia, and is just as huge. The construction of the National Army Complex has come under much criticism in the Bulgarian media since its inception in 2004-2006 with critics arguing that the Bulgarian Army and Defense Ministry do not need such a costly and enormous project, ...
31-08-2010
Buying an office in Bulgaria costs the same as leasing - Creditex
There is no difference between the expenses incurred in buying an office in Bulgaria using a mortgage and leasing an office, according to non-banking financial institution Creditex, part of the Bulgarian unit of Dutch-based TBI Financial Services. The company anticipates a pick-up in the Bulgarian business property market due to changes in the ratio between selling prices and rents, it said. About 16 percent of Creditex’s loan portfolio covers investment properties. While lease prices are lower than in 2008 and loan interest rates are higher, the purchase of an office through a bank loan costs ...
19-08-2010
Subway Districts Most Popular in Bulgaria's Sofia
Apartments in the neighborhoods along the subway are the most wanted for renting in the Bulgarian capital. According to the real estate agency “Address”, the most desired Sofia neighborhoods for renting are Mladost, Darvenitza, Iztok and Lyulin. The monthly rent for a two-room apartment varies between EUR 190 and EUR 280. The most deals are sealed with about EUR 200. However, about 10% of all the contracts are signed in BGN, instead of EUR, the real estate agency has stated. “The landlords would decrease the price of the rent by EUR 10-35 if they like the tenants. Another method for lowering the ...
19-08-2010
Sofia Europe's Costliest Capital for Residential Property
Sofia, Bucharest and Warsaw are the three most expensive capitals in Europe when measured by the ratio of how much the average resident earns versus the cost of housing, a survey shows. The average yearly salary in Poland, Romania and Bulgaria is only sufficient to buy a mere one or two square meters in the respective centers of each of the three countries’ capital cities, according to data of the Polish real estate company Home Broker. With the average yearly salary, a Bulgarian citizen can buy no more than 1.7 square meters in the center of the capital, the sales price being set at EUR 1759 ...
12-08-2010
Forton International: Retail rents in Bulgaria the lowest since 2002
Sofia's main streets are offering the lowest rents since 2002, according to consulting company Forton International. As of August 2010, prices are around 55 euro a sq m for a store on some of Sofia's elite streets, as opposed to 120 euro in 2005, when prices were at their peak. Rents have gone down by a further 30 per cent in the second quarter of 2010 in Sofia, while in other cities across the country, the decline is between 43 and 50 per cent, Forton said in a report. Meanwhile, 163 000 sq m of new retail area was made available on the market with the launching of several new malls, such as ...
12-08-2010
Wildfires Cause More Russians to Eye Bulgarian Properties
The raging wildfires in the Moscow region are said to have a reflection on the demand of Russian buyers for Bulgarian real estate properties. Residents of Moscow who are extending their stays in Bulgaria as a result of the environmental problems in Russia caused by the forest fires are increasingly eying Bulgarian properties, especially along the Black Sea coast, according to a report of a Bulgarian real estate agency cited by BTA. The company’s report says that 83% of the Russian-speaking buyers of Bulgarian properties in 2009 came from Moscow. The Russian customers are said to be paying an average ...
10-08-2010
Bulgarian Real Estate Experts Expect Standstill of Prices
The prices of real estate in Bulgaria will probably remain at their current level in the next few months, the head of the National Real Estate Association has announced. At the moment, the average prices for residential properties range between EUR 550 and EUR 1100 per sq.m. “In the second trimester, the prices for residential properties in Sofia increased by 4-5%, while in Varna and Plovdiv the prices dropped by 2,5-7% in comparison to the first trimester,” said Lachezar Iskrov, head of the National Real Estate Association in an interview for the Bulgarian Darik Radio. He has also explained that ...
10-08-2010
Bulgaria with Record Growth of Commercial Space in 2010 Q2
A record amount of new commercial space was opened in Bulgaria in the second quarter of 2010, according to a report of Forton International, a property advisory company. A total of 163 000 square meters of new commercial space was inaugurated in April-June 2010, Forton says, currently estimating the total commercial space in the country at 485 000 square meters. The new commercial space was mostly the result of the opening of new commercial complexes and shopping malls in Sofia, Varna, and Plovdiv. The second quarter included the opening of “The Mall”, the country’s largest shopping mall located ...
03-08-2010
Colliers International: Sofia is one of Europe's cheapest cities to park your car
Parking in the city centre has always been an experience bordering on anything from a sheer nuisance to an outright nightmare, especially in grid locked, congested urban centres, lacking the modern infrastructure which would allow for the city to accommodate the growing number of vehicles. Athens is notorious in the Balkan Peninsula for this trend, but then Sofia is also not lagging too far behind. But whereas paid parking in Athens rivals that of Washington DC, Sofia still offers considerably lower charges. In fact, Bulgaria's capital is way behind most European cities – and this time – for a ...
03-08-2010
Cleves Launches New Luxury Rental Project in Sofia
Cleves, a luxury Sofia apartment rentals company. has opened a brand-new 15-apartment development at Cherkovna Str in Sofia’s Oborishte municipality. Cleves Cherkovna is the company’s most central rental property to date. The new property, which was formally presented to the media Wednesday night, is just to the east of the Doctors Garden. The developer was Prime Property BG REIT. This is the company’s fourth property to open in Sofia. Cleves already has a Sofia portfolio of 42 apartments for rent at projects in the quarters of Boyana, Izgrev and Manastirski Livadi. Cleves Cherkovna has a range ...
27-07-2010
Fall in Bulgaria Residential Property Prices Slows Down in Q2
The average asking sales prices for residential property in Bulgaria continued to fall, though slightly, in the second quarter of 2010, official data shows.Residential property recorded a negligible, average decrease of 0.8% for second quarter of the year after falling by 2.3% during the previous quarter, data of the statistics office shows.The year-on-year comparison shows an average decrease of 9.7%. Prices fell by 7.8% on an annual basis in the first quarter of 2010.More significant price reductions have been registered in 13 regional centers with the biggest slumps in Gabrovo - 8.3%, Shumen ...
15-07-2010
Tishman Presents 1st LEED Certified Building in Bulgaria at Sofia Airport Center
The Tishman International Group has presented the first commercial LEED-certified office building in Bulgaria, its newest Class A office building in the Sofia Airport Center.Tishman Chairman Alan D. Levy, along with Managing Director Julian Edwards, and Managing Director of EZ MEP International Carlo Marzot gave a an exclusive press briefing Tuesday at the Marketing Suite of Sofia Airport Center highlighting the advantages of the “Green Building” concept and the benefits of having a LEED certification.The media event was also attended by US Ambassador to Bulgaria James Warlick and US Commercial ...
13-07-2010
Real Estate Prices in Bulgaria Continue Dropping - Report
The prices of real estate in Bulgarian cities still mark a trend of decrease, according to data from Bulgarian real estate agency Foros, with the biggest drop in Veliko Tarnovo and capital Sofia.The report refers to prices according to offer, not according to actual transactions.For the first half of 2010 prices in Veliko Tarnovo have dropped with 10.84%, and those in Sofia – with 7.55% of prices for the second half ot 2009.Some regions have nevertheless retained a marginal increase of prices, like southern cities of Stara Zagora (up by 1%) and Burgas (up by 0.58%), according to the report.Last ...
13-07-2010
Russian Real Estate Owners in Bulgaria Unite to Form Own NGO
Russian owners of properties in Bulgaria have registered a non-governmental organization to protect their interests as a staggering number of Russians have acquired real estate in the country in recent years.The new “Association of the Russian-Speaking Owners of Real Estate in Bulgaria” named “Alyosha” has been registered in the Black Sea city of Burgas but also has a branch in Varna, announced Thursday its Chair Alexander Anisimov.Anisimov presented the new NGO together with the Russian Federation consul in Varna, Yury Solovyov, who said that even though there is no precise statistical information ...