13.10.2011 Private auctions are becoming popular |
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 Since the crisis the time for saleing property, whether residential, apartment or land has increased many times. Before the crisis from the moment of announcing the sale of one apartment to the moment of signing the contract for the purchase usually past not more then two or three months, today this process may take more than a year.
Finding a fair price, however, can be achieved through the sale of the property at auction. The public auction sale became very popular around the bad mortgages in the last three years ... now the private auctions are takeing speed. Evidence for this is that in early November by a secret private auction will be sold two plots. The first property is an area of 7692 sq.m and is located on Ring Road in the area of \"Business Park Sofia.\" Its starting price is 29 EUR / sq.m. The second one has an area of 25,155 sqm and is located near the square \"Gorublyane.\" The auction will begin at price of 1 111 111.11 EUR.
\"For the first time in Bulgaria business property of a similar class with exceptional location will be sold via private auction mechanism. That mechanism is very suitable for determining a fair price at a time like this when international investors, most operators of large retail chains actively seek appropriate to expand its chain locations, but the total volume of transactions is small, so there is no measure the price, \"explains George Palpurin, owner of targ.bg |
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10.10.2011 Fixed mortgage loan installment. Myth or Reality?! |
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 Homebuyers who want to buy estate with a mortgage would increase if interest rates on loans for the entire period are fixed, according to a study done by \"Unicredit Bulbank\" in early September. Half of the respondents prefer to borrow a fixed interest rate for the entire period. Immediately after them are the customers who agree the interest rates to not be fixed, but the monthly payments to be equal. At the third place with 18% of the people agree to get credit but only if there is fixed maximum of interest rate. Only 14% tend to withdraw a loan at a variable rate with decreasing variable contributions.
Mortgage market is stable and even there is slight increase. That is the opinion of the analysts of the bank. Last year they predicted an increase in mortgage lending by 10% in 2011 compared to last year, but believes that it will not exceed 2% (as is the outlook for economic growth in Bulgaria). For 2012, bankers expect an increase in mortgage loans of 3%. Source: http://fakti.bg/ |
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20.09.2011 Deficiency of properties in gated communities |
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 Indication of the state of the real estate market in our country is what is happening in the segment of residential properties located in gated communities. \"The range of sales there remain the same as they were at the end of 2010. Today they are bought mainly to be used as a primary property\" said Tatiana Emilova, Manager \"Commercial Property\" in the company Colliers International.
Customers are interested in the environment, and they pays great attention to the offered property utilitys.
Bulgaria is the second highest rate of decline in property prices in Europe, but there is no change in prices of the apartments in gated communities. And these properties are the most popular because they offers high quality and good environment.
Soon in this segment can be expected deficit, warning by Colliers International. The reason is that at the moment in the capital are available only about 35,000 such properties and there was no new construction. Optimistic is the fact that in recent months, some investors who stopped the implementation of their projects wish to review them.
Sourse: ÔÀÊÒÈ.ÁÃ |
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07.09.2011 The perefect moment for luxury property - the new lifestyle |
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 Generally the real estate market is stabilizeing prices and Bulgarians began to look for opportunities to buy property, mainly through some form of credit. Evidence is that currently about 70% of the financial institutions claims are approved. This, leads to an increase in the number of transactions and helps stabilize the overall market.
People who are directed towards high-class homes have multiple logical requirements even for the smallest detail. It\'s no secret the fact that the expensive housing in Bulgaria has become a reflection of the lifestyle of its owners, demonstrating luxury. Searching of that type of property is a trend that has already established itself in major European cities, and last years have started in Bulgaria. Currently exclusive apartments of this type are rare in our country and demand still grows.
Prefered luxury properties are those in the city center, the southern regions and the foothills of Vitosha - Boyana Simeonoevo. Prises now are twice less than before two years. Registered decline is the rate of 35%. |
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09.08.2011 The office market in Sofia |
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 The activity of the tenants of offices in Sofia increased slightly in the second quarter of 2011, shows a report of Forton International. However, market fundamentals are still weak and will take time before the currently oversupply to be absorbed.\"Activity in Sofia is driven mainly by relocations of companies. The premier office buildings benefit from this, but offices with poor performance are under pressure for additional reductions of their rental levels\" according to Vladislav Kayzerov, department manager \"Office Space” in consulting firm.\"In the second quarter of 2011, average rents for premier offices in the capital were about 12 euros per square meter, which shows stabilization of the market for a period of one year. It is still early to expect increase of prices because there is large part built areas wich expect their users. Only when they entered the market, we can talk about growth potential\" added Kayzerov.
The area of the existing offices in Sofia in the second quarter of 2011 reached 1.367 million square meters. For that period were completed just two new buildings with area of 12,900 square meters. That contrasts sharply with the record volume of new offices in 2010, and at the beginning of 2011 when at the market appeared 328 thousand square meters and that significantly increased the demand. Therefore, completion of some major projects was postponed to ensure more stable work in them.The volume of offices under construction remained stable - about 580 thousand square meters. Include projects that develop in stages and some of them may be delayed or canceled. Office areas that are expected to be completed by the end of 2011 are 140 thousand square metersBusy office of A and B class increased by 43% on quarter base, according to Forton. This is a positive trend despite the lower base of compare in the first quarter of this year. Leased office space in the second quarter of 2011 were nearly 14 thousand square meters. Considerable part of them are resulting of seven great deals for rentals completed during the period.Activity is mainly due the relocation of tenants in new office buildings with high standards and better conditions. Rental contracts in the new office buildings are often with significant bonuses packages.
The demand of office over 1000 square meters comes mostly from IT sector, media, banks, outsourcing and pharmaceutical companies. International companies are directed primarily at high Class A office building with professional management. Class B offices and secondary locations are pressured and rents there continue to fall. For A class, there is sufficient demand and discount depend on the amount of leasable area, the contract terms and additional bonuses offered by the landlord.\"The level of vacant space in Sofia is still 31% because the limited new supply of office space volume is balanced by new recruits. By the end of the year we expect a slight increase in this share and serious volume is expected to be available in the second half of the year. Since the majority of rental transactions are actually moving tenants from one office to another we will see an increase in vacancy in B-class buildings where tenants are exported. The prime office buildings are expected to increase their levels of employment\" said Vladislav Kayzerov.Prime office rents have decreased by 4% annually, but quarterly is stable. Levels of B-class offices and C-class decreased in the last 12 months by 14% and 25%, which shows once again the orientation of active tenants to premier office buildings.Prime offices have reached the bottom of wage levels and hiring decisions will be taken based on the additional bonuses offered by the owners. Tenants are taking into account the presence of professional management and additional opportunities for more effective work in the building. |
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20.01.2011 What sellers of properties to do in market with oversupply |
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 In only three years the situation in the housing market at home and in many other countries has changed dramatically. For several years, during which real boom continued, market demand in many regions outstripped supply.
Banks also facilitate this process as they were willing to provide quick and easy financing for the purchase of housing, which was then a relatively safe collateral.
At the time the housing market stagnate hundreds of unsold properties. Despite significant reductions in prices, buyers are still wary and not easily be able to provide appropriate and meaningful funding to make a deal.
In a weak market for housing outstrips the number of sellers that the buyers. So the market started to compete numerous properties that are aiming to attract more limited search.
In this respect, the British National Association of Realtors (NAEA) have prepared a list of some tips that would help owners to achieve a successful sale of the property.
1. Bringing home in a friendly kind is the best way to increase your chances of selling a house. This is usually the smallest factor of the whole process of sale that the sellers ignore. It is very likely to lead to a sale.
2. To make sure the yard (if any) look good and home renovation are among the most important factors that may increase the attractiveness of the property for potential buyers.
3. Given the small number of really quality properties on the market, sellers is good to ensure that the assessment of their housing is a competitive under current market conditions. In recent years property prices in many regions recorded a significant drop, so it is essential to make sure that you want at the right price. To ignore this factor means to lower their chances of selling. For example, some mortgage advisers and lenders may refuse to finance the buyers under the pretext that the bid for the property is not realistic.
4. With the growth of energy prices many households are seeking to make their homes energy efficient. Some buyers may use the lack of insulation and other drawbacks in terms of energy efficiency as an argument to reduce the price of the property. There is relatively affordable ways to increase insulation and seal of a dwelling in order to increase its “green” value.
5. On the market there are many real estate brokers. Some of them are qualified, and some do not have the appropriate experience to work precisely with your property as, in the location like yours. It is therefore crucial to make sure that the broker you are working with would do the job in selling your home.
6. Internet is becoming a more effective tool for both buyers and sellers.
Make sure your broker uses online channels for advertising and ads for your property. |
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07.06.2010 Poles are investing 75 million EUR in a third mall in Bulgaria |
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| The company has began the construction of its commercial center in Bourgas as well as in Stara Zagora and Varna.
The Polish Globe Trade Centre (GTC) began to build its third Gallery shopping center in Bulgaria.
The investment in the mall, which will be situated in Burgas, is 75 million EUR. The funds are part of the company\'s investment program for our country, amounting to 350 million EUR.
C urrently GTC is working on two shopping centers, named Gallery – one in Sofia and the other - in Stara Zagora. Although the construction of the mall in the seaside capital began earlier the mall in Stara Zagora is at more advanced stage.
There GTC provides a shopping center with total area of 37 sq m, which is ready and should be open in September. Over 50% of the retail spaces (26 sq m) are rented.
The mall in Varna must be completed in 2011. It will have a total area of 54 sq m, of which 38 sq m are retail spaces. Source: Pari.bg |
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07.06.2010 The highest rise of transactions with problematic assets is expected in Europe and the U.S. |
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| It is expected the highest increase of sales of problematic assets to be registered in Europe and the U.S. Appraisers and real estate brokers predict that the number of the problematic properties that come on the market is going to increase in 19 from total number of 25 countries. Source: Investor.bg
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07.06.2010 Piccadilly supermarket opens door in the Printing and publishing house after its transformation into |
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| Piccadilly supermarket chain has made a deal to hire an area of 510 sq. m in the commercial part of the Printing and publishing Office Centre for a store of the Piccadilly Express type, announced the consultancy company Forton International which is an intermediary in the transaction.
The Printing and publishing Office Centre is located on Tsarigradsko highway in the capital and is the result of the project for a transformation of five buildings of the complex of the Printing and publishing house which the fund gained in 2008.
The Printing and publishing Office Centre has spread out build up area of 21 200 sq.m more than 2200 sq.m commercial and 19 000 sq.m office space and 230 parking spaces.
The complex is at the stage of finishing works and its formal opening is planned for 1st of October 2010. Investor.bg |
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04.06.2010 The number of the newly introduced into service homes has gone down with 27% during the last quarter |
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| The number of the newly introduced into service homes in Bulgaria comes to 3201 during the first quarter of the year or it has gone down with about 27% on annual basis.
The number of the newly introduced into service residential buildings during the quarter is 512 or it has gone down with 19% in comparison with the same quarter of 2009. The highest number of residential buildings and homes have been introduced into service in Bourgas region – 94 buildings with 677 apartments in them, Varna region – 86 buildings with 643 homes, followed by Sofia region – 51 buildings with 67 homes in them. There is no newly introduced residential building in Razgrad region.
In the capital the number of the newly introduced into service residential buildings is 15, and the number of the homes in them is 370. In comparison with the same quarter of 2009 the number of the residential buildings has gone with 50%. Source: Investor.bg
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04.06.2010 6000 parking spaces and 172 sq. m commercial areas |
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 The five malls in Sofia provide about 6000 parking spaces. The largest parking in the capital and in the country at all is situated in The Mall. It has 2800 cars. Then the parkings in Serdica centre and the Mall of Sofia follow with respectively 1600 and 700 parking spaces.
The first mall in the capital - Sofia City Center provides 400 parking spaces and Sky City Mall has 320.
The total commercial area of the five malls comes to 172 500 sq.m, announced Colliers for Profit.bg. |
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13.05.2010 Real estate operations get most banking loans in Bulgaria |
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 The bulk of the loans given by Bulgarian banks in March have been used to finance real estate operations, shows data by the Bulgarian National Bank (BNB).
The sector borrowed BGN 2.5 billion in March, representing a 68.3% rise in terms of volume from the previous quarter. Loan numbers rose by 12 percent, or 233 new loans, which means that the average loan is larger.
Overall, business lending shrank to BGN 30.8 billion as at end-March 2010, down 0.6% from the BGN 30.9 billion figure recorded at the end of December. On an annual basis, however, corporate loans swelled by 1.1%.
Manufacturing and energy were the second most credited sector, pulling off a surge of BGN 73.5 million to BGN 807.9 million. Third ranked Creation and dissemination of information and creative products;Telecommunication sector which scooped up BGN 432.5 million in loans, up to BGN 56.3 million.
Household lending also contracted on a quarterly basis, down by BGN 80.5 million, or 0.4% from the end of 2009. On the year, however, there was a 4.4% uptick.
The average business loan in Bulgaria stood at BGN 244,800, up 0.7% from the previous quarter. The average household loan was BGN 6,700, a 3.4% increase.
Household deposits rise to BGN 25.04 billion in the first quarter, up by 12% on the year and 2.9% on the quarter. Source: Maria Ivanova, Dnevnik |
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11.05.2010 It is a myth that properties were moving the economic growth |
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 The economic growth in Bulgaria before the crisis was not driven by the properties, this is a myth, said during a press conference today concerning the upcoming forum „BalREc 2010 – Investment projects and sustainable development” Lachezar Bogdanov, a managing partner of “Industry watch”. His opinion was shared by Sergej Kojnov, a managing partner of “Fortune International” who indicated that properties were not driving the economic activity but they are a subsequent factor from the economic development of the country as well as a precondition for development.
Experts expect the recent good news for the growth in export and industrial production to reflect investors\' interest to Bulgaria.
“For the real estates market and assets as a whole the investment flow is important as well. When the prices were at their highest rates many people didn\'t see logic and the explanation was that there were significant capital flows to the country. Now is the opposite, there are no capital flows, \"explained Bogdanov.
From an investor point of view the real estate market in Bulgaria is difficult, but that is not a distinguishing feature only of Bulgarian market, commented Shimon Ben Hamo, CEO of “AFI – Europe” Bulgaria having several projects in Bulgaria. He appealed the bureaucratic obstacles that investors face in our country to be eliminated.
According to Shimon Ben Hamo Bulgarian property market is still attractive and he forecasted its positive future development. In his words, compared with Romanian and Serbian markets Bulgarian market is more attractive - construction costs here are still lower and the price of land as well, he said.
At the moment the supply of business properties in Bulgaria is significant- 170 000 sq m of existing office space are waiting for tenants and about 300 000 sq m are at their final stage of construction, provided data Koynov. About the commercial sector - 370 sq m are waiting for new tenants and for the logistics sector – they are about 32 thousand square meters.
In the residential segment were outlined positive trends. According to Address only in April views have increased by 23% and the number of real deals - by 8%.
The crisis of the property market however directed the focus to the quality of buildings and the sustainable development, the title of this year\'s BalREc forum. The participants in the conference have shared the opinion that the quality and the energy efficiency would help the good projects to succeed, while the low quality buildings would bring losses to the investors.
But how we measure the quality of the properties? According to the Bulgarian Council for Sustainable Development these are the properties that meet certain standards of sustainable construction, i.e. from the outset they are designed to consume less energy, explained Cyril Velichkov, chairman of the board. According to him, such buildings have an advantage because the operating costs are not so high, they are easier to rent and are much preferred.
Buildings are one of the major energy consumers, recalled Velichkov. In his words the operating costs of a building form about 80% of total costs, while the costs for investment and construction amount to 20%
To recognize the green buildings, we need a tool to measure the sustainability of the buildings - the council, which adapted the German system of certification to the Bulgarian legislation is working in this direction.
Currently there are three major pilot projects that are certified under this system – these are the office building of Knauf, the office building of the Center for the Study of Democracy and Serdica Center, said Velichkov. He called for more business incentives to assist investing in green projects.
BalREc will be held on May 19 in Sofia with the media partnership of Investor.bg.Source: Investor.bg, Desislava Popova |
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10.05.2010 Building Shopping malls and Spas with priority |
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 Builders of golf-courses, malls, hotels and SPA-complexes secure state privileges again. Some changes in the Regulations to the Law on Investment Promotion provide for the full range of bonuses for projects which cost over 100 million leva and provide at least 200 jobs. State aid under this law begins with the issue of an Investor Sertificate and covers giving land without tender and at a symbolic price, express service on counters, taking costs for the passage of electricity, water, streets.
The law provides for the government to give privileges to companies that invest less than 10 million leva if the money come into municipalities with high percentage of unemployed. Now the threshold for access to these privileges is 16 million leva.
The number of the new jobs will be an important criterion for the so called “priority” projects. At the moment these are mostly large investments in industry, green energy and high technologies. The Ministry of economy, energy and tourism now offers the range of the “priority” projects to be liberalized for all the areas – the only condition is the investment to be over 100 million leva and to open more than 200 new jobs and for the municipalities with high percentage of unemployed the criteria should be twice lower. Everybody who invests in a “priority” project should be able to buy land without tender and by tax assessment. Though the market price of the land and the sum over the tax assessment will be considered as state aid. Source: Profit.bg |
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07.05.2010 In which towns properties become more expensive? |
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 Are the prices of property in Bulgaria growing and if the answer is positive what shall we turn to? Where should we buy a property so already during 2010 to profit from our investment? According to Address “the prices of real estates in the big cities like Sofia, Plovdiv, Varna and Bourgas continue to go down at very moderate rates. The prices there have dropped to about 5% and some of the prices of high quality properties with good location and infrastructure even have increased slightly.
The liberalized mortgage of properties is the leading precondition for the stabilization of the market. This we notice just in big cities .
A serious rise in prices in Sofia, Plovdiv, Varna and Bourgas we can\'t expect before the third and even the fourth three months of 2010. According to Bulgarian properties, the prices of real estates will not increase till the end of 2010. The prices are still going down – this process for some regions and types of properties has almost finished. When the real estate market reaches the bottom regarding the prices, we expect first the demand and the number of transactions to increase but not the real estate prices. Only then we should talk about a slow rise in the prices of real estates, commensurable with rise in GDP. The real estates market directly follows the economic development. The expected rise in GDP for 2010 is minimal – about 0.3% which also confirm us in our opinion that a rise in the prices of real estates we can\'t expect during this year. We should notice as well that we don\'t expect the prices of the luxury properties to go down. This process finished last year and during 2010 we should observe a real market segmentation and correction in the prices only of lreal estates with not good location, that need a lot of repairs and houses in small villages and rural regions. The average values will continue to show the general trends of the market but we should examine in more details the trends in the different market segments. Profit,7 Ìay, 2010 |
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03.05.2010 Small apartments - most sold at the beginning of the year |
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 The small area apartments in new high-quality buildings with good location and at a price not higher than 25 000 EUR are hit on the real estates market during the first months of 2010. These transactions are 34% of the total number of the realized sales, shows the analyse of the real estates company Address.
“The supply of this type of homes is very much down but the construction of new buildings does not register noticeable activity at the moment. As a result the trends in the mentioned segment can even turn over and the demand of small apartments to overcome the supply”, by comments of the company manager. Publication by Åxpert.bg |
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28.04.2010 The court proclaim invalid orders for sale of land parcels between Balchik and Albena |
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| The administrative court Dobrich proclaim invalid the ex governor Erdinch Hadgiev\'s orders for the decision of companies as buyers of four public property land parcels on the coastal fortification between Balchik and the resort of Albena, reported BTA.
The prosecutor\'s office claimed the court to invalidate the transactions with “AP Invest 09” Ltd., Sofia and “Sezoni” Ltd., Targowishte for the four land parcels with 10 636 sq.m area each.
According to the judgement these land parcels must not be an object of such transactions as they belong to the coastal fortification – won Black sea territory which is exlusive public property. The governor has issued an administrative act seriously breaking the law.
The administrative court has already proclaim invalid ex governor\'s orders for the sale of other two publi property land parcels to “Balchik Plaza” Ltd., Varna and “Renkon” Ltd., Sofia. Both companies have gained land parcels 10 636 sq.m area each on the coastal fortification. The coastal fortification is constructed in the Black sea aquatory on 150 decare area is financed by the Ministry of regional development and public works under contract with the European investment bank.
Erdinch Hadgiev was arrested on 4 March for illegal sale of another public property land parcel near Shabla lighthouse. |
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11.12. 2007 Mirax Group is created a luxurious***** hotel complex in Turkey for the rissuan`select part! |
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 The biggest 5*****star hotel in Europe, “Sungate Port Royal”, which is situated in Mediterranean Seaside of Turkey is changing it`s conception – to create the hotel as a the traditional place for relax of Russian`s select part. The hotel complex is situated on 25 km. far away from the famous turkish resort Antalia.
The expectings of the company are to create another hotels in the different countries as a Russia, Greece, Montenegro, Swiss and Ukraine. |
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20.11.2007 The Russian interests are changed from the Seaside to the capital in Bulgaria! |
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| The interests of the russian investrors are changed from the Seaside to the capital of our country. In the some european countries as Spain and Great Britain the realestate market is changing and the reason can be definite of the rates rising, but the expectings for our country are of rising the seaching for realestate properties and one of the main reasons is that Bulgaria is a member of European Union. |
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15.11.2007 “Arco Invest” company is beginning to realize it`s new big project, which is named“Boulevard Residen |
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| “Arco Invest” company as a part of the big realestate company – group Arco Vara Group is beginning to realize it`s owned project, which is named “Boulevard Residence” It is included a building with shops and underground garages in “Madrid” Blvrd. in Sofia. The open build up of area is 24 830 sq.m. and the number of the trade properties is 54 .The apartments in “Boulevard Residence” will be completed construction when the project will finished. |
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