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Welcome to TheMoveChannel.com Bulgaria News Homepage, where you can keep up with all the latest Bulgarian property news, covering a range of property investment, real estate industry and personal finance news topics. If you like our news, why not sign up to one of our newsletters or RSS feeds and read it every day!Top of the Props: Bulgaria breaks back into top ten
Photo credit: Ali Burçin Titizel
Bulgaria has broken back into the top ten most popular real estate markets, according to August’s Top of the Props report from TheMoveChannel.com.
3.3% of all enquiries in July were directed at Bulgarian property, marking the country’s return to the overseas property portal’s top ten for the first time in three years.
The most popular countries remain the same, with Spain staying in the top spot for a second month running. Together with France, USA and Portugal, the traditional destinations account for over a third of all property searches from buyers interested in property abroad.
Director Dan Johnson said: “As the Euro debt crisis continues, people are looking for bargain investments and holiday homes at low costs. Bulgaria’s real estate sales have been improving all year, with buyers attracted by exceptionally low prices for winter property, so it’s no surprise that interest has increased.”
Latest Bulgaria News
In 2011, GDP of Bulgaria is anticipated to record a surge of 2-2.5%. Compared to the overall economy, the Bulgarian construction sector is still lagging behind in revival. This is reported in the actual market report by Buildecon. In 2011, growth rate is to be negative for the third year in a row. The pace of reduction is slower than in 2010 and in 2009, and the bottom is to be hit in 2011 at around € 7bln for construction output (at current price) and the sector is to start to rebound in 2012. In 2012, the share of civil-engineering is to exceed 50% of the total output.
The Bulgarian government has fulfilled its revenue and spending plans for 2011 at close to 100%, and recorded a budget deficit lower than expected, announced the Ministry of Finance Wednesday.
Former socialist leader Todor Zhivkov's residence on the Vitosha Mountain near Sofia, Bulgaria has gone on sale to the public.
The average market price of Bulgaria's dwellings decreased by 6.1% in 2011 compared with 2010, according to the country's National Statistical Institute.
About a third of property sales in Bulgaria in 2011 were motivated by people wanting to get out of their investments, according to a January 16 2012 report by local television station bTV.
The Southern Bulgarian Black Sea city of Burgas is the country's highest-ranked tourist city, according to Euromonitor International's latest Top City Destinations Ranking.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, at "crisis levels", according to brokers quoted in a report by television station bTV.
The world's housing markets had a weak third quarter of 2011, according to the latest survey of worldwide house price indices prepared by the Global Property Guide. During the year to end Q3 2011, house prices fell in 25 countries (out of the 44 for which quarterly house price statistics are available) and rose in only 19.
The Law on the Trade Register, which came into force in 2008, states that all existing companies in Bulgaria must be registered in the new Online Trade Register by Saturday 31st December 2011. If not, they will be removed from the register of companies in Bulgaria resulting in loss of their assets (including real estate).
Staff at an embassy in Spain have been recently been asked to find out the size of the Prince of Wales's feet so the caller could send him some shoes “as a present”, while in Sofia, a Briton asked if the consulate could sell his house.
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