 Willbrook Management International will build a 40 million euro housing complex in Varna
Photo: Georgi Kozhouharov |
09:48 Wed 17 Sep 2008 - dnevnik.bg Real estate company Willbrook Management International will build a 40 million euro housing complex in Varna, said the company’s executive director Daiana Voicu. Willbrook Diamond Residences will comprise 11 home buildings, recreation and entertainment facilities and a spa centre. It is expected to be finished by the end of 2009. The complex would be designed, built and used in line with strict environmental read more  |
13:55 Thu 11 Sep 2008 - dnevnik.bg Arco Invest, a unit of Estonian real estate group Arco Vara, started construction on a six million euro gated complex in Sofia. The complex, set to be the company’s biggest investment so far, will rise in the read more 16:02 Thu 04 Sep 2008 - dnevnik.bg Bulgarian home prices gained more than 30 per cent year-on-year in the second quarter of 2008, placing the country atop the global index of UK-based property consultancy Knight Frank, released on September 2. read more 17:03 Mon 01 Sep 2008 - Svetlana Guineva The Bulgarian residential property market still has a potential to grow, Nikolina Nikolova, CEO of the Bulgarian arm of Hercesa International, said during a news conference on September 1 2008 at the Hilton Hotel. Nikolova’s statement contradicted the read more 15:30 Mon 01 Sep 2008 - Svetlana Guineva The fact that the force with which the Bulgarian residential property market has been developing is beginning to subside was officially confirmed by real estate company executives during a press conference on September 1. read more 16:29 Thu 28 Aug 2008 - dnevnik.bg Israeli firm BSR Europe will build a mixed-use office and residential complex in the city of Varna on the Black Sea, Dnevnik learned from Anet Events, one of the agencies handling the company's public relations in Bulgaria. read more 11:32 Thu 14 Aug 2008 - dnevnik.bg Bulgaria's property market was treading water with holiday homes emerging as the riskiest segment, Bulgarian real estate investment fund (REIT) managers said on August 13. read more 11:36 Fri 08 Aug 2008 - Svetlana Guineva Fewer property deals have been finalised in the Danube cities of Rousse, Vidin and Silistra since the beginning of the year, according to local real estate agencies, as quoted by website investor.bg.
Supply exceeding demand, unfavourable credit terms and overpriced offers are among the factors responsible for the stagnant market, according to agencies. read more 13:05 Tue 29 Jul 2008 - dnevnik.bg The Bulgarian central bank reported on July 28 that the APR on new housing loans stood at 9.72 per cent at the end of June, up from 9 per cent in February. read more 13:03 Mon 28 Jul 2008 - Svetlana Guineva Engel East Europe N.V., one of the leading developers of residential and mixed-used properties in Central and Eastern Europe, announced plans to withdraw from a project in the Sofia borough Gorna Banya, website investor.bg reported.
The project envisioned a residential complex consisting of 430 flats, in which Engel held a 40 per cent share in a joint venture with Heitman Group, which held 60 per cent.
read more 18:44 Mon 21 Jul 2008 - Svetlana Guineva For the months of May and June, supply on the residential property market surpassed the demand by 50 per cent, Katya Tsenova, the executive director of Address real estate agency, told a news conference on July 21.
In an attempt to evaluate the current status of the market, there were a number of contradictory statistics made public by various agencies in the past several weeks, Tsenova said. read more 16:14 Fri 18 Jul 2008 - Svetlana Guineva House prices for the second half of the year are expected to jump between eight and 15 per cent, real estate agency Foros forecast, as quoted by website investor.bg. read more 14:29 Wed 16 Jul 2008 - Svetlana Guineva In the six month period from the beginning of the year, rental rates for residential property have increased, website investor.bg said, quoting brokers from various agencies. The professionals, however, have not been unanimous in their prognoses of how the situation would change in the second half of the year. Some say that further increase is to be expected, others do not anticipate changes.
read more 17:05 Tue 15 Jul 2008 - Svetlana Guineva Martinsa-Fadesa SA, the largest Spanish developer with a residential project in Sofia, has sought bankruptcy protection, Bloomberg agency reported as quoted by website investor.bg.
With the 10–year real estate boom in Spain beginning to die down, more companies fail to secure a loan for refinancing old debts. What makes it harder for developers to pay their debts is the sharp decrease in home sales in addition to rising borrowing costs, the agency said.
read more 14:17 Fri 11 Jul 2008 - dnevnik.bg Real estate company Foros said it has signed up two franchisees, in Plovdiv and in Stara Zagora. The company is also in talks to set up Foros franchises in another 25 local town, including Blagoevgrad, Silistra, Vidin, Gabrovo, Haskovo, Kavarna, Sandanski, Elena and Sliven. The first of the signed contracts are for a period of five years. read more 17:30 Fri 20 Jun 2008 - Elitsa Grancharova The initiative committee of Sofia’s Mladost district’s residents, together with Zelenite political party (Bulgarian Greens), will stage a rally on June 23 at 7pm in front of the Mladost district hall to protest against the district's urban plan, which envisions building up areas between blocks of flats and the “destruction of green areas” in Mladost.
The committee has created a website, where they put pictures and descriptions of all places that would be "destroyed", and called on fellow residents to “Come to clearly express our standpoint and disagreement with this madness!”
read more 16:53 Thu 19 Jun 2008 - Svetlana Guineva An increase of eight to 10 per cent in loan applications for remodelling and furnishing has been registered in Plovdiv, the local office of real estate consultants Europolis said in a statement.
Europolis' conclusion is drawn from the data provided by the Plovdiv branches of major banks. The average amount for the renovation of a two-bedroom apartment is between eight thousand and 12 000 euro, a three-bedroom home will take up to 18 000 euro, while to satisfy their taste for luxury, some clients may request up to 30 000 euro.
read more 22:14 Tue 10 Jun 2008 - Svetlana Guineva Electra Bulgaria, the Bulgarian arm of Israeli investment company Electra Group, will invest 300 million euro in a residential project near the Black Sea city of Varna, weekly Stroitelstvo Gradut said.
The company confirmed that it plans to build the biggest yet gated residential community in Bulgaria, called Electra Hills. The land plot it has selected for the purpose is near the Kalimantsi village, 15km northwest of Varna. The company has completed similar projects in Israel and Ukraine.
read more 17:39 Fri 30 May 2008 - Elitsa Savova Price increases in the lodging property sector worldwide slowed down in the first quarter of 2008 to reach 6.1 per cent on an annual basis. But Bulgaria still heads the price hike, according to the Global House Price Index of UK’s real estate company Knight Frank.
The price increase registered in Bulgaria was 31.5 per cent for the first quarter of 2008, investor.bg said. Bulgaria also occupied first place in the same ranking for the last quarter of 2007 with a 33.7 per cent price increase. read more 17:58 Tue 27 May 2008 - Elena Koinova Sofia's future Simeonovo River Park residential development will cost about 100 million euro to build, Ivo Koloushev, director of Bulgarian developer Litos, told SeeNews newswire.
The company controls a 50 per cent stake in the project and the remainder is in the hands of an unnamed foreign investor. read more 18:10 Mon 26 May 2008 - www.sofiaecho.com Rental prices in the city of Varna on the Black Sea were the highest in the country, local Narodno Delo daily said on May 26 2008.
According to the paper, luxury apartments registered the highest increase, 22.1 per cent, compared to May 2007. Rents of unfurnished housing went up by 19 per cent, while furnished ones increased by 17 per cent. read more 16:20 Mon 26 May 2008 - Elitsa Savova Living standards in Romania were developing in greater harmony with the country’s property prices than in Bulgaria, Teodora Dimitrova, executive director of ERA - Balkan Estate said at a news conference on May 26 2008. ERA is the first franchising network in Europe for property sale, Focus news agency said.
On May 26, ERA announced it’s entering the Romanian real state market. read more 15:12 Mon 05 May 2008 - Elitsa Savova As a result of the real estate crisis in Spain, nearly one third of the 1.8 million lodgings build since 2005 cannot be sold, Spanish daily El País said. read more 13:29 Tue 29 Apr 2008 According to data published by Globalpropertyguide.com, house price increases in Europe over the past year ending in Q4 of 2007, were highest in Bulgaria. Bulgarian houses increased by 34.61 per cent, closely followed by Poland with a 33 per cent increase.
House prices in Estonia increased by 23.38 per cent. Prices in Sweden, Lithuania, Cyprus and Estonia increased by between 11 and 19 per cent. Increases in other European countries were in the single digit range, with Portugal, Latvia and Ireland reporting house price decreases. read more 14:04 Wed 23 Apr 2008 - Rene Beekman The first sod was turned on the Winslow Gardens residential project in Sofia's Manastirski Livadi borough, investor.bg reported.
With this, developer investment firm Winslow Developments, starts work on the first stage of the gated community, which will cost 105 million leva and is scheduled for completion in mid-2010. read more 19:55 Tue 08 Apr 2008 - Alex Bivol Orchid Developments, a real estate developer operating in Bulgaria, will invest a total 50 million euro to build its Orchid Gardens Varna mixed-use project, investor.bg reported on April 8.
read more 13:55 Tue 08 Apr 2008 - Alex Bivol Investment firm Winslow Developments has secured a loan of 72 million leva from Raiffeisenbank Bulgaria to fund the construction of the first stage of its Winslow Gardens residential project in Sofia's Manastirski Livadi borough, investor.bg reported. read more 14:33 Mon 07 Apr 2008 - Elena Koinova Interest rates on mortgage loans rose for the third time since 2005 in March. More than 70 per cent of mortgage borrowers will have to pay higher instalments in April, Tihomir Toshev, executive director of Credit Center, an independent loan consultant, said at a news conference on April 7. read more 13:59 Tue 01 Apr 2008 Land and residential space in Velingrad, in south-western Bulgaria, almost doubled their values for a year, prompted by growing interest from developers, Stroitelstvo Gradut (Construction and the City) weekly reported. read more 16:36 Mon 31 Mar 2008 Investment company Winslow Developments has sold about 60 per cent of the apartments in its residential complex Winslow Gardens in Sofia’s Manastirski livadi borough even before starting construction on the first phase of the gated community, the company said in a statement on March 31. read more 13:49 Mon 31 Mar 2008 The financial crunch and a feeble dollar are not such bad news for the United States property market, Pari daily reported. read more 12:42 Mon 31 Mar 2008 Israeli real estate developer Electra Group has started construction on its first Bulgarian project – a gated residential community in Varna, to be named Botanic VIP Residence, the company’s sales manager Petar Petrov told Dnevnik daily on March 30. read more 16:17 Fri 28 Mar 2008 No significant changes in prices or sale volumes in the Bulgarian property market have been recorded since the turn of the year. Prices will remain stable and are unlikely to increase by more than five to 10 per cent in 2008, Liron Or, Engel East Europe-Bulgaria's executive director, told investor.bg. read more 18:53 Tue 25 Mar 2008 Bulgarian Land Development (BLD) investment fund acquired another 46 673 sq m plot of agricultural land near Sofia for 500 000 euro, although its exact location was not revealed, investor.bg reported on March 25.
read more 17:50 Tue 25 Mar 2008 Investment company Winslow Developments has closed the tender for choosing a chief contractor for the first stage of the Winslow Gardens project in Sofia’s Manastirski livadi neighbourhood, the company said in a press release on March 25.
read more 18:56 Mon 24 Mar 2008 Spanish developer Martinsa Fadesa started the construction of its first project in Bulgaria, Stroitelstvo Gradut (Construction and the City) weekly reported. The first-sod ceremony of the Modera Residence residential complex took place on March 18.
read more 16:48 Mon 24 Mar 2008 Residential real estate in Pernik has seen prices go up, according to local real estate agents, as quoted by Bulgaria news agency (BTA). Apartment prices have gained five per cent and luxury two-room brick dwellings in the town’s centre have reached 50 000 euro read more 15:29 Fri 21 Mar 2008 - Anelia Zaharieva Roslin Park, the first residential project of Israeli-based Pritzker Group in Bulgaria, will be located in Sofia’s Lyulin neighbourhood, at the junction of Petar Dertliev Blvd and Pancho Vladigerov Str, consisting of 28 eight-storey apartment buildings with a total built-up area of 65 000 sq m, which will spread on a land plot of 30 000 sq m. read more 22:23 Wed 19 Mar 2008 - Anelia Zaharieva Global house price inflation in the fourth quarter of 2007 stood at 8.2 per cent, compared to 9.7 per cent in Q4 2006, the latest Knight Frank’s report shows. Bulgaria tops the index as the country with the greatest annual price rise (33.7 per cent).
read more 17:56 Wed 19 Mar 2008 - Anelia Zaharieva The first-sod ceremony of a new housing compound in Kranevo, located within the boundaries of Balchik Municipality, took place on March 18, municipality officials told investor.bg. read more 13:09 Fri 14 Mar 2008 - Desislava Leshtarska The city of Plovdiv now occupies second place in terms of the number of property deals, according to a chart compiled by the Varna-based Foros real estate agency. The number of transactions in Bulgaria's second largest city reached 20 000, versus 18 000 in Varna, where the market is considered much more dynamic and the number of deals is usually above the country's average.
The combined area of transacted properties in Plovdiv topped 100 000 sq m. That figure is expected to double in 2008, Dnevnik daily reported on March 14. read more 15:08 Wed 12 Mar 2008 - Desislava Leshtarska Investment fund Engel East Europe NV is close to finalising the sale of Panorama residential complex in Sofia's Vitosha borough, investor.bg web site reported on March 12, quoting company sources. The buyer, which is expected to sign the deal soon, has remained unnamed.
Engel representatives told investor.bg negotiations for the transaction has started in 2007 and a preliminary contract has been signed in November. The value of the deal is 7.5 million euro. So far Engel has received 75 000 euro. The deal provides for Engel to get 8 per cent from the complex' rental revenues. read more 17:31 Tue 11 Mar 2008 - Anelia Zaharieva Current monthly rents for luxury flats with a garage or parking place in Plovdiv averages 350 euro, according to an analysis of rental trends at the turn of the year, carried out by Europolis real estate agency.
read more 14:21 Tue 11 Mar 2008 - Desislava Leshtarska Bulgarian firm Marma has launched construction work on its 40-million euro gated residential complex in Varna, Dnevnik daily reported on March 11.
The New Varna community, located in the Galata district of the coastal city, will have a footprint of 73 975 sq m. The project funding is provided by the Bulgarian American Credit Bank. read more 12:53 Tue 11 Mar 2008 - Anelia Zahareiva Arco Invest Ltd, a subsidiary of Tallinn Stock Exchange-listed Arco Vara group, has closed a deal worth 8.1 million euro with Cleves Ltd for the sale of 45 unfinished apartments and 60 parking spaces in its Madrid project, the company said on its website on March 10. read more 15:54 Mon 10 Mar 2008 - Anelia Zaharieva London-listed Bulgarian Land Development (BLD) fund acquired a 38 146 sq m plot near Sofia for 1.7 million euro, company officials said, as reported by investor.bg. BLD’s representatives refused to provide details on the exact location.
read more 14:09 Mon 10 Mar 2008 - Desislava Leshtarska Newly-built apartments in Varna cost more than in Sofia in 2007, because of the limited supply in the coastal city, Stroitelstvo Gradut weekly reported on March 10. Although Sofia's residential property prices registered a greater increase than those in Varna, 45.7 versus 33.9 per cent, respectively, the average price of new apartments in Sofia was 1043 euro a sq m, compared with 1188 euro a sq m in Varna, data provided by Varna-based Foros real estate agency showed. read more 12:12 Mon 10 Mar 2008 Bulgarian Land Development real estate investment trust (BLD), specialists in residential and commercial properties development, said a significant demand for second homes in Bulgaria from Russian and Middle Eastern buyers has replaced the slackening demand from the UK and Ireland caused by the lending crisis.
The company made the announcement as part of its filing of preliminary unaudited results for 2007 with the AIM, Dnevnik daily reported on March 7. read more 13:11 Wed 05 Mar 2008 - Desislava Leshtarska Demand continued to outstrip supply on the Bulgarian housing market last year, fuelling a 30-per cent increase in residential prices, local real estate agency Foros said in its 2007 market overview.
Central areas of large regional cities were suffering the greatest under-supply, sending buyers in search of options in the suburbs.
The demand/supply gap has also been identified in the market research of other major property brokers like Address and Yavlena, Dnevnik daily reported on March 5.
read more 12:25 Tue 04 Mar 2008 - Desislava Leshtarska Demand for residential properties in the outskirts of big cities picked up in 2007, data from Foros real estate company show. Increased demand may be attributed to the small number of properties for sale and the expensive prices in downtown areas as well as to the construction of gated complexes that raises the supply of residential properties in suburbs, Pari daily reported on March 4. read more 18:23 Thu 28 Feb 2008 - Desislava Leshtarska Bourgas city hall plans to build three new residential areas in the suburbs, it emerged after mayor Dimitur Nikolov and his deputy in charge of construction, Kostadin Markov, met Bulgaria Building and Construction Chamber's members and members of the Chamber of Engineers in Investment Projects, Dnevnik daily reported on February 28.
Kiosheto neighbourhood, the area between Srafovo and Bourgas and Kraimorie neighbourhood will be developed as residential districts. The buildings planned for construction are two- and three-storeys, but also skyscrapers.
The required infrastructure for the future residential boroughs will be built up with a concession contract or public-private partnership. read more 15:35 Wed 27 Feb 2008 - Desislava Leshtarska The Sofia residential housing market continued to be strong throughout the second half of 2007 and, according to the latest research findings from Colliers International, there were significant price increases in most locations.
However, in a different sector of the market, the supply of holiday properties around the country had slowed down, the report said. Although there was a 16 per cent increase in the number of holiday homes available in H2 2007, this needed to be reviewed in comparison with the annual increase from H2 2006 of 170 per cent in mountain resorts and 65 per cent in coastal resorts.
read more 12:47 Wed 27 Feb 2008 - Anelia Zaharaiva The lack of vacant construction plots in Sofia and resulting high prices drove investors beyond the city boundaries to suburban areas in search of available building space, Kapital weekly reported.
It's unsurprising that the capital is the country’s winner in terms of population and construction density, whereas suburban villages in Sofia region, by contrast, are one of the country's most sparsely inhabited areas.
However, recently, prompted by lack of available land for construction or/and the desire to escape urban congestion and noise, many investors have set their sights on areas around Sofia. read more 18:29 Fri 22 Feb 2008 - Anelia Zaharieva Arco Invest, a subsidiary of Latvian Arco Investeeringute AS, signed a 14 million euro lending contract with Piraeus Bank Bulgaria for their multi-functional residential-and-office project in Sofia’s Manastirski livadi neighbourhood.
The complex will cover a 8 990 sq m plot, located two kilometres from the city centre. The gross actual area is calculated at 34 700 sq m.
Loan’s repayment term is set at four years with a two-year grace period and the interest rate equals the three-months EURIBOR plus a mark-up read more 14:56 Fri 22 Feb 2008 - Anelia Zaharieva Average apartment prices in Tsarevo exceed 1 300 euro a sq m, according to imoti.net. Around 186 flats with areas fluctuating between 24 and 190 sq m, are currently on offer on the website.
The lowest offer is 27 000 euro and the highest one is 338 000 euro, according to recent quotes on imoti.net. Average prices stand at 1 315 euro a sq m.
The town of Tsarevo accounts for almost half of the total supply in Tsarevo municipality, which has 246 units on offer at a mean price of 1 210 euro a sq m. read more 12:00 Fri 22 Feb 2008 Interest in Sofia property investment projects is continuing to rise despite fears that there are already too many players on the market, a recent report suggests. A survey conducted by real estate investment company Karrat Group suggests that while demand for homes in Sofia is growing, it is not as easy to meet buyers' expectations as it was several years ago.
According to Karrat Group's research, people now have an entirely different approach to home-seeking. They are more educated and discerning and have higher expectations.
Construction companies are therefore advised to curb their tendency to simply build as many homes as fast as possible because current Sofia's property buyers have numerous requirements for location, landscape, interior design, quality of construction materials, nearby amenities and many other factors. read more 19:00 Thu 21 Feb 2008 Even though yields have decreased in recent years, Bulgaria's property sector was still a sound investment, fetching satisfactory returns at low risk, the chief executive of Bulgaria's biggest bank, UniCredit Bulbank, Levon Hampartzoumian told news conference.
It was also unlikely to suffer the repercussions of global credit crunch, because business climate and economy models in the country followed a different pattern. After the initial bloom of real estate, price growth was expected to slow down to 15-20 per cent year annually, compared to 34 per cent rise last year, which showed a maturing market. There was no risk of the real estate sector suffering a sudden collapse and any talk of a real estate bubble were just insinuations, Hampartzoumian said. read more 16:06 Wed 20 Feb 2008 Seven Hills Ltd will invest in the construction of a new compound, comprising 30 residential buildings in Zhitnitsa locality in the village of Bata , Pomorie municipality, Property Xpress reported.
The village lies 24 km west of the Nessebur resort in the eastern slopes of the Aitos mountain.
The information was published as an investment intention in the local Bourgas dnes i utre (Bourgas – today and tomorrow) newspaper. read more
|
| BNB Fixing 23 Sep 2008 |  | EUR | 1.4571 | USD |  | | EUR | 0.7939 | GBP |  | | USD | 0.68 | EUR | | | GBP | 1.2595 | EUR | | | EUR | 1.95583 | BGN |  | | USD | 1.34228 | BGN | | | GBP | 2.46948 | BGN | |
|
