25.11.2008

The real estate market at present

Mall Varna changes hands

Scottish property group Miller Developments is the new owner of Mall Varna, foreign media reported on November 16 2006. The deal was sealed for 120 million euro, and according to the Sunday Herald, this is the group's biggest property transaction in continental Europe. Keith Miller, chief executive of the Miller Group has been quoted as saying that with this acquisition, Bulgaria becomes one of the eight countries in which the company is operating outside the UK. Mall Varna opened in June 2008 and it is the largest new retail and leisure development in Bulgaria, spreading on 33000 sq m and ...

08.08.2008

Interesting

Black Sea hotels rented without tender

The Defence Ministry offered for rent a development of two hotels in the Black Sea resort of Kiten to the company Global Trade without calling a tender   Global Trade pays a modest 41 000 euro in annual rent for the holiday complex of 140 beds. During the first five years of the agreement the Defence Ministry also receives 40 per cent of the income, Bulgarian-language daily Dnevnik reported on August 5. The contract was concluded in 2003 and expires in 2013.   Yordan Vassilev, who is indirectly connected to the construction tycoon Trace Group, owns Global Trade. Former defence minister ...

24.07.2008

Real Estates

Rents in Sofia – from steady high to high up

 An average rent for a two-bedroom flat in those areas is 450 euro   The company indicates that for the first half of the year, small flats in Mladost, Oborishte and Dianabad have been most desirable and prices there have gone up, respectively. An average rent for a two-bedroom flat in those areas is 450 euro. In boroughs like Lyulin, Druzhba and Obelja, flats could be found from 150 euro a month to 200.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 ...

20.07.2008

News from MIRELA Real Estate Agency

The First catalogue edition for luxurious properties of Mirela Real Estate Agency came off the press

'VIP estates' is the brand, which will present to your attention offers for sale and rent of unique properties in Bulgaria and abroad.     From the rich Mirela's database, with more than 25 000 proposals for sale in Bulgaria, we present you a selection of accents, including houses, villas, town and holiday apartments, outstanding with individual attitude to location, architectural decisions, construction and interior.   'VIP estates' brand brings the idea of uniqueness as a way of thinking and life style. It also expresses the notion of prestige in accordance with the conditions and the ...

29.04.2008

News from MIRELA Real Estate Agency

The largest date base for properties in Bulgarian seaside resorts - find it in Mirela Real Estate offices in Sunny Beach, Sozopol and Primorsko!

Properties in Sunny Beach, Sozopol and Primorsko ! We expect you in the offices of Mirela Real Estate agency offices on the south Black Sea! On 01.06.2008 officially will be opened the offices of Mirela Real Estate Agency on south Black Sea . For those who want to combine a nice sea holiday with investment opportunity, are available more than 20 000 offers for sale of real estates. In our offices in Sunny Beach resort, town of Sozopol and town of Primorsko you will find information not only for all seaside projects offered by Mirela, but also all properties from the large data base. Mirela ...

15.02.2008

Real Estates

Retail space market - not oversupplied yet

High street locations continue to enjoy good demand and retain past rental levels between 50-130 euro a sq m per month in Sofia   In terms of modern retail space, Bulgaria is still relatively under-supplied with an average shopping mall ratio of 15 sq m a 1000 capita. In Sofia this ratio is 60 sq m against 1 000 inhabitants, which is still relatively low. By comparison, the average ratio for Europe is 182 sq m a 1 000 inhabitants and the corresponding figures for Bucharest and Belgrade are 71 sq m and 37 sq m, accordingly. However, the segment is growing fast; in the second half of 2007 seven ...

06.02.2008

The real estate market at present

British real estate consultant names Bulgaria world's strongest property market

Bulgarian property investment remains very competitive and highly profitable in comparison with other European markets   The huge property price rise has been largely attributed to a good mortgage market, high annual revenue of properties and the weak impact of the global credit crunch on Bulgaria, since there is virtually no cross-border banking in the country.Bulgaria was the world's strongest property market in 2007 with an estimated turnover of 11.36 billion euro, an increase of 2.36 billion euro on the previous year, British property investment company Obelisk said on February 1. The ...

01.02.2008

The real estate market at present

Off-plan housing prices in Plovdiv on par with old constructions

New housing will gain 15-20 per cent in price this year and old apartments are likely to rise by 10-15 per cent, the agency predicted. Old construction is still attractive and  widely sought by first-time buyers who can procure a mortgage. Prices vary between 850 to 1 200 euro a sq m, depending on location and the apartment's condition   Investors have so far unveiled plans to develop retail centres and food chains. Hence it's too early to speak of growth of industrial property segment, according to Europolis. Its rise depends, crucially, on whether investment in production and industrial ...

24.01.2008

News from MIRELA Real Estate Agency

Mirela opened the first franchise office in the town of Sandanski

At 23 of January 2008 in the sunny town of Sandanski was opened the first franchise office of Mirela Real Estate Agency HAPPY HOUSE Ltd is the company - partner for Sandanski region. For the success of the new commercial office in the presence of local business representatives, Mirela's representatives and many guests was performed an inauguration ceremony. Set in the very center of the town and executed in the traditional for Mirela corporative appearance, the office in Sandanski town demonstrates a modern vision together with the ambition to offer high level of professional service for ...

25.10.2007

News from MIRELA Real Estate Agency

Town of Bansko - excellent investment oportunity !

The crew of Mirela Real Estate Agency expect you with the largest real-estate data base for real-estates in Bulgrian mountain resorts.   More details and information where you can find us check HERE   Please check HERE properties offered by Mirela Real Estate agency in the region of Bansko.   You can check   HERE the statistics of average prices of real estates in municipality of Bansko and municipality of Razlog.   With this especially created material we aim to provide you with basic information about the investment process in the area, numerous holiday and recreation ...

30.08.2007

Prices and Analyses

Sofia rental rates mark modest increase

22.08.2007

The real estate market at present

DEMAND FOR APARTMENTS FOR RENT NEAR UNIVERSITIES IN BULGARIA INCREASES

The rental market in Bulgaria is expected to experience substantial growth in the second half of August and the beginning of September 2007.   Outside the central parts of Sofia and the other big towns in Bulgaria, which usually have high demand for rental apartments, the interest in apartments for rent near universities has been also increasing, 24 Chasa daily reported.   Sofia’s top ten most preferred residential complexes include Dianabad, Mladost, Geo Milev, Durvenitsa and Musagenitsa according to real estate website imot.bg.   Studentski Grad, where the campuses of the universities ...

08.06.2007

Real Estates

Property attractiveness chart ranks Bulgaria third

Bulgaria's capital of Sofia ranks third in property market attractiveness according to recent research of Global Property Guide (GPG).   The ranking included 12 European capitals and placed Bratislava and Istanbul at the first two positions. GPG compared several factors including prices per sq m, annual rental income, taxes, transaction costs, GDP and legislation in the country, investor.bg reported.   EU membership requirements activated a number of reforms in Bulgaria, research said. The annual gross rental income in Sofia is 10.6 per cent on average.   Average residential prices are ...

08.06.2007

The real estate market at present

Bulgarian leasing market registered 80 per cent growth in 2006

The total amount of leasing transactions reached 2, 253 billion leva (about 1.152 billion euro), Bulgarian National Bank's (BNB) statistics show.   In 2006, the newly-signed leasing contracts grew by 80 per cent, reaching 1,006 billion leva (about 514 million euro).   At the moment, 10 per cent of the Bulgarian economy is driven by leasing. The Bulgarian Leasing Association reported that leasing contracts in 2006 were signed mainly for vehicles (37 per cent), cargo trucks (27 per cent), and machines and equipment (27 per cent). Property leases account for 7 per cent of the total leasing ...

29.05.2007

Prices and Analyses

Rents in Varna Catch Up With Sofia's

A shop of 23 sq m in the busiest part of Kniaz Boris I blvd. in Varna can be leased for EUR 140 per sq m, according to the available supply of retail space in the Black Sea city.   In Sofia the top levels are on Vitosha blvd. where the upper end is EUR 120 per sq m after reaching EUR 200 per sq m (in an offer dated a month ago) earlier.   The creation of a second pedestrian street in the capital city, Graf Ignatiev, with a decision of the Municipal Council, could lead to rent increase there too.   In the downtown area shopping space rental levels are from EUR 70 to 100 per sq m, as in Varna ...

21.05.2007

The real estate market at present

Modern industrial property in Bulgaria's capital exceeds one in Bucharest and Belgrade

04.04.2007

Prices and Analyses

The High Street Survives, Rents Climb

The expected drop of rent levels on Sofia’s high streets did not happen with the openings of the first shopping malls. Currently top levels for shops for rent are within the EUR 180 - 200 per sq m range. For regional centers like Varna, Plovdiv and Bourgas retail space on main streets vary from EUR 70 to 100. EUR 100 per sq m have been asked for 55-sq m premises of on Varna’s Knyaz Boris blvd.The low-end rent levels on Sofia central streets range between EUR 17 and EUR 40 per sq m. Rents in Sofia’s shopping malls now start from EUR 30 per sq m to reach EUR 60 per sq m with no space ...

04.04.2007

The real estate market at present

Bulgaria Is Still A Sound Investment In 2007

Bulgaria's property scene has been subject to a meteoric rise over the last few years - fact!   A decade ago, the country was seen as a poor, eastern block state riddled with crime and corruption but both international and home-grown developers soon realised its potential, and, thanks to massive investment, Bulgaria is now one of the world's top property hot spots. Many claim the time of quick high returns has passed, but Bulgaria still has a lot to offer investors who are prepared to take a slightly longer term view.   There's no doubt that the success of any country is built on its ...

19.03.2007

Interesting

Bulgaria as popular as France

The rapid rise of Bulgaria in overseas home hunters' hearts has led to enquiries for cash to purchase properties in the Eastern European country almost overtaking France.   A new report by foreign exchange specialist Moneycorp said 12% of enquiries for funds to purchase a property abroad over the past three months were for Bulgaria - swiftly approaching the 14% for France.   And in some areas of Britain, the attraction of bargain Eastern European properties has overtaken that of their more expensive counterparts over the Channel - with Moneycorp saying buyers in the North, West Midlands and ...

09.03.2007

Economy

Romania and Bulgaria's EU entry gives new trade and investment opportunities

The EU accession of Bulgaria and Romania on January 1 2007 created new economic opportunities for all union member states, Economic Outlook reported. Bulgaria and Romania have small economic weight and failed affecting significantly EU structures, the report said. At the same time the enlargement offered new investment and trade chances. Though the GDP per capita in the two countries is still low, Bulgaria and Romania are developing fast, the report said. Domestic demand and investment growth produced positive developments, Bulgarian news agency BTA reported. Europe at the same time ...