Archive for the 'Rural property' Category
Wednesday, February 21st, 2007
Thirty Thousand Subjects of the British Queen Live in Bulgaria
The official statistics for 2006 reads that some 30,000 British citizens have bought real estates in Bulgaria. The Englishmen prefer village houses at the seashore or in the mountains. The places where the Britons settle undergo a real revival.
The Britons are quite conservative and don’t like risks and surprises. It’s a well proved fact that countries where there are many British settlers, like Cyprus, Kenya and Spain, for example, enjoy political and economic stability. If they decide to leave a country this means that they distrust the political regime (Hong Kong, South Africa). After the USA, Canada, Australia and Spain, Bulgaria is one of the Englishmen’s preferred places to live in.
Standartnews Daily
Thursday, February 15th, 2007
PROPERTY PRICE HIKE EXPECTED IN BULGARIA’S PLOVDIV, SLIVEN AND YAMBOL
A growth in the price of property is expected in Plovdiv, Sliven and Yambol in 2007.
The property market will fail registering record growth, Industry Watch representative Georgi Stoev said.
In the end of 2006 economists predicted growth rate in the prices of property varying between 10 and 15 per cent. Developments in the beginning of 2007 confirmed these predictions, Focus news agency reported.
Some Bulgarian cities registered steady growth in 2006 but the overall price increase remained within expectations, Stoev said. Major price hikes failed coming true, he said.
Similar developments are expected in 2007. Only some cities could register significant hikes, Stoev said.
Plovdiv features among the cities that are to see major growth. The same could happen in Sliven and Yambol, though the two towns were smaller, Stoev said.
SofiaEcho
Wednesday, January 24th, 2007
Boom of the Deals with Agricultural Land in 2006
The number of the deals with agricultural land reached 92 000 in 2006 which is an increase of nearly 100% compared to the preceding year, said at a press-conference the Deputy Minister of Agriculture and Forestry Svetla Bachvarova. The growth marked by the market is due to a great extent to the activity of the investment funds focussing on the agricultural properties which are behind more than half of all transactions.
The average market price of the agricultural lands has increased up to BGN 200 per decare that is 20% more compared to 2005.
There is a big increase in the average price of the agricultural land in the north-western regions, as it has reached BGN 162 per decare (40% compared to 2005). The number of the deals in the region has increased by 60%, as nearly half of the lands sold are situated in the region of Vidin, namely 90 000 decares. In the north-eastern region, which remains the most active market in the country in 2006 as well, there are 30% of the deals executed, at an average price of BGN 220 per decare that is an increase by 26% compared to 2005.
During the last year the demand on the territory of the whole country exceeded the offering, which accounts for the increase in the prices and the number of deals. The market intensification is directly connected to the joining to the European Union and to the general agricultural policy of the Union for direct payments per unit of area, said Bachvarova. The stabilization of the market is a result of bringing near the prices in the different regions. The landed funds are also an important factor, as they take part in more than 50% of the deals in 2006.
The European market is extremely conservative regarding the purchase-sale of agricultural land, as there are many serious restrictions. The market price of the properties in Bulgaria is 4-5 times less compared to the average price for the European Union, and most probably it will not become equal in the future 3-4 years according to Deputy Minister Bachvarova. The expected step of an increase in the price of the agricultural land in the coming years will not exceed 10-20%.
According to Bachvarova there is a tendency in 2007 towards a decrease on the market for purchase-sale of agricultural land and strong intensification of renting. There are totally 3.8 million decares granted on lease in 2006. The value of the rent paid in 2006 increased by 20%, which was also the prognosticated increase in the price in 2007. The rents in Bulgaria correspond to 60% of the average value of the rent wanted within the European Union.
There will be a serious increase in the price of the land for non-profit purposes in the coming year. During last year the number of the deals increased by 23% compared to 2005 up to 8596. There are 47 219 decares of land for non-profit purposes sold, which is an increase of 34% to one hundred percents. The average market price remains high, namely BGN 30 543 per decare that is an increase of 7.2%.
The lowest average price has been registered in the north-western region, namely BGN 1134 per decare, followed by the Northern central region – BGN 5261 per decare. There is an increase in prices of 35% registered in the Southern central region compared to 2005 – BGN 8658 per decare.
The activity in the north-eastern region remained in 2006 as well – there was a total number of 14 394 decares of land sold at an average market price of BGN 20 967 per decare, which is an increase of 11% compared to 2005. More than half of all deals are made in the region of Dobrich where the average price is to the amount of BGN 17 000 per decare, and the highest price reported is in the village of Topola, namely BGN 25 000 per decare. The village is attractive for the golf ground under construction, which is situated near it, and the boom of the building of vacation complexes in the region of Kavarna and the region of Balchik. The prices in Varna and Byala are extremely high, as the maximum values per deals there have reached BGN 80 000 per decare.
The number of deals in the south-eastern region remains the same (1334) but the land sold has increased nearly two times, up to 12 326 decares. The average market price decreased by 11% in 2006 compared to the preceding year. The average price of the lands for non-profit purposes on the territory of the Municipality of Sozopol is the highest in the country, namely BGN 190 000 per decare. The maximum price reached in this part of the country is to the amount of BGN 300 000 per decare.
Monday, January 22nd, 2007
FOREIGN PROPERTY INVESTORS PURCHASE WHOLE VILLAGES IN BULGARIA
A new trend among foreign investors in Bulgaria is the purchase of whole abandoned villages and hamlets in the Rhodopi Mountain region. Investors planned to develop the villages into residential complexes of closed type, imoti.net said as quoted by mediapool.bg.
The advantage of such deals was that the property purchased could become separate administrative unit to apply for EU subsidy for developing a sparsely populated area. According to mediapool.bg the investors wanted to set up natural settlements where typical architecture and peculiarities of Rhodipian house would be preserved. The settlements had to be keep their natural outlook. Contemporary construction techniques would not be allowed.
Property agents said that foreign investor interest in Rhodopi villages began in the autumn of 2006. A demand boom for such property was expected in the spring and summer of 2007. Houses in the Rhodopi Mountain were offered for and average price of 160 to 170 euro per sq m, imoti.net said. The most expensive property wa located near Pamporovo winter resort.
Imoti.net
Tuesday, October 17th, 2006
Bulgaria Is the 9th Most Attractive Place to Invest
Bulgaria is the ninth most attractive place in the world to invest in. The country is ranked fourth in the Southeast Europe as regards the attracted direct foreign investments, after Russia, Ukraine and Romania. These data are taken from the World Report on Investments, presented by Neil Buhne, UN Resident coordinator for Bulgaria, and Ivo Prokopiev, Chairman of the Confederation of the Employers and Industrialists in Bulgaria.
Statistical data of the Bulgarian Agency for Investments show that the investments in the country for the first six months of the year total US $1.72 billion. By the end of the year, the foreign investments in Bulgaria are expected to gross last year’s amount of US $2.8 billion. The foreign investments in 2007 are expected to be at least US $3.5 billion.
Standart Daily