08.01.2009 - 33013 verified real estate property ads for sale and rent in Bulgaria

The real estate market at present

Construction on Mega Mall Lyulin starts

Construction on Mega Mall Lyulin, at the intersection on Blvd Tsaritsa Ioanna and Blvd Dobrinova Skala, has started. Initial work for the mall will focus on building the infrastructure linking it with the metro station, as the construction company is contemplating a direct link between metro station Zapaden Park and the mall's underground parking lot.Mega Mall is set to open for business in October 2010, spanning four levels, with a 24 000 sq.m. area available for rent. Last month it was announced that the Slovenian trading company Mercator has signed a contract to rent a total of 3054 sq.m. ...

05.01.2009

Small urban blocks back into vogue amid crisis

The biggest obstacle on the market is banks’ reluctance to lend As the global financial crisis rips on, small residential buildings are coming back into fashion, construction prices are almost halving, home prices are coming down, and off-plan sales are dying out, investors said.Investors who have announced big-scale projects will never start to build, and major international companies and investment funds will be hit the hardest, forecast Nikolai Pehlivanov, executive director of Green Life.Buildings with floor space of 3,000 and 5,000 sq m will be most in demand next year because of the ...

17.12.2008

Prices and Analyses

Sofia office vacancy rate could reach 10% by year-end

After a calm first half of the year, about 65 000 sq m of class A and B office space hit the market in Sofia in the third quarter of 2008, which could drive the office vacancy rate in the Bulgarian capital, financial news website investor.bg reported on December 12, quoting a survey by consultancy firm MBL.The overall amount of office space in Sofia now stands at 874 100 sq m, of which 81 per cent is outside the immediate city centre.Construction activity during the period was high despite the developing global financial crisis and there was no change in the amount of new office buildings ...

17.12.2008

Bulgaria’s first retail park opens in Plovdiv

Landmark Properties Bulgaria, the property investment and management company, cut the ribbon on the nation’s first retail park in Plovdiv, Bulgaria’s second largest city.The project stands on a 42 650 sq m plot and has a combined floor area of 26 400 sq m and a 450-car parking lot.The investment was in excess of 21 million euro, Landmark executive director Tanya Koseva-Boshova said.Rents range from 10 to 14 euro a square meter, depending on size and location of the outlet.One of the two buildings in the complex has been leased out to Austrian do-it-yourself chain BauMax.The second ...

16.12.2008

Mall Veliko Turnovo seeks buyer for 31.56 million euro

different promotional campaigns have succeeded in increasing the quality and variety of company tenants The investment fund European Convergence Property Company PLC (ECPC) continues to search for a buyer for its only remaining asset - Mall Veliko Turnovo - after several offers for a potential transaction were withdrawn “for varying reasons including the economic crisis,” ECPC told the media in an official statement.“There is some remaining interest from other potential buyers and the company is considering options and strategies,” ECPC has said, as quoted by Investor.bgRecently an ...

16.12.2008

Environmental respect key in naming Bulgaria's 2008 Building of the Year

more than 80 buildings and facilities around the country participated in this year's competition Energy efficiency played a key role in naming the 2008 Building of the Year. The seventh annual awards were conferred at a ceremony at Ivan Vazov National Theatre in Sofia on December 15 2008. Winning this year's competition was the Sveti Toma holiday complex at Cape Houmata, near Arkoutino by the Black Sea. The facility also won the title of Vacation Complex of the Year, both awards coming largely due to the fact that its traditional Sozopol-style architecture blended harmoniously with the local ...

10.12.2008

70 million euro investment for a Spanish tower in Sofia

The centre of the architectural scheme would be a 150-metre glass tower Sofia's chief architect Petar Dikov told Stroitelstvo.bg that in August 2008 a plan was approved for a glass tower to be built behind the Sofia central train station, at a location commonly knows as the “artery”. Spanish company Riofisa has a parcel of land worth 40 million euro, and is contemplating erecting a glass tower with an auxiliary complex around it, creating 2500 new jobs and significantly boosting the local economy in the district. “While the government is adamant on moving to 4th kilometre, the ...

10.12.2008

Eurobank Properties pulls out of skyscraper project

Greek company Eurobank Properties, which won a tender to build Sofia's first skyscraper, has ultimately backed down from the deal. The company has decided, in light of the global financial crisis, not to go ahead with the project. An official statement from the company said that the decision was ultimately caused by the current economic climate, the financial crunch and the negative economic forecast for Bulgaria, as quoted by the Bulgarian newspaper the Trud daily. However, consultants are speculating that the arduous circumstances on the real estate market and the buyers’ strong position ...

10.12.2008

Ceremony marks the sale of the first shopping mall in Bulgaria

the property has brought a return of nine million euro for 2007 The sale of the first shopping mall in Bulgaria, Sofia City Center, was officially sealed with a ceremony on December 9 2008, one month after it was first announced.The deal will see Equest Balkan Properties selling the mall to the international investment fund Heitman European Property Partners III for 101.5 million euro, which is one of the largest property deals in Bulgaria this year.Equest Balkan Properties bought the mall two years ago for 94 million euro. Their profit on the sale will be a meagre 7.5 million euro. Equest ...

04.12.2008

Mega tourist projects in Bulgaria left on standby

Ski resort, golf course plans on the back burner Investors have put on hold tourist projects worth nearly 4.5 billion leva with only a handful daring to blame the tight funding in the aftermath of the global financial turmoil or fear of few holidaymakers, a check by Dnevnik showed.Investors rushed to inject about 2.5 billion leva into large-scale ski resort projects praising the huge potential of winter tourism and set to create what they dubbed the Bulgarian Alps but now many have given up the pies in the sky.About two billion leva was supposed to be spent on the construction of about two ...

04.12.2008

The real estate market at present

New mall in the town of Pleven

The main concept of the design is “organised chaos” The first commercial and recreation centre in Pleven - Central Mall Pleven – has greeted its first wave of clients with 95 per cent of its capacity being “occupied”, according to Valerii Ruskov, manager of the investment company Nia, the mall's main investor. The new centre, on Vassil Levski Street, opened on November 28. It's an architectural collaboration between Proskonsult, with architects Krassimir Popov, Sergei Bonev and Emil Borisov.The arduous challenge for the mall started from the onset, both for the investment team and ...

26.11.2008

Real Estates

Construction permits number down 1.5% in Q3

Residential developments continued to account for the largest share of the total permits issued The number of construction permits issued by Bulgarian authorities in July-September 2008 was 1.5 per cent lower compared to the previous quarter, at 4327 versus 4355, data from the National Statistical Institute data showed on November 26.Albeit small, it was the third quarter of decline over the past 12 months and the trend is expected to continue as the number of permits fluctuates seasonally with fewer applications in winter, but also because the global credit crunch has forced developers to ...

25.11.2008

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 ...

19.11.2008

Bulgaria ranks 68th in the world by the economic freedom index

Bulgaria ranks 68th in the world by the economic freedom index, according to data from the annual report of the Canadian Institute "Fraser" distributed in Bulgaria by the Institute for Market Economy. The index published measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property. Forty-two variables were used to construct a summary index and to measure the degree of economic freedom in five areas: size of ...

19.11.2008

Bulgaria Exhibit in Saragossa registers half million visitors

The book where visitors have written their impressions reflects views of the country as an interesting, beautiful and adventure attracting location Nearly half million people have visited the Bulgarian exhibit pavilion in Saragossa during the World Exposition held between June 14 and September 14, according to the International Plovdiv Fair press center. June 21 has been the pick day with visits reaching over 12,000. During the rest of the time, there have been an average of 5,000 visits while the weekend average reached 8,000.There have also been over 40 official visits of delegations and ...

14.11.2008

Super Borovets to apply for eco certificate

The plan includes "revolutionary" for Bulgaria construction, such as "passive buildings" or buildings that are heated and cooled by themselves The main investor in the new Super Borovets mega ski resort is to apply for an EMAS (Eco-Management and Audit Scheme) eco certificate which guarantees that all work, products and services will be done in accordance with the highest European eco standards. So far, Super Borovets is still only on the drawing board, as construction is yet to be given the go-ahead.The Eco-Management and Audit Scheme is the EU voluntary instrument which acknowledges ...

11.11.2008

30M euro open-air mall planned for Bourgas

The investment in the new shopping centre is estimated at 30 million euroDeveloper ZBS plans to begin construction on the first open-air mall in Bulgaria in March 2009. The Strand mall would be built on a six ha plot near the highway to Sofia, next to a Baumax hypermarket, currently under construction. The open-areas will be built like pedestrian streets and will be covered in bad weather.Initially planned to open in the summer of 2009, according to ZBS' website, the mall is now scheduled to begin operations in 2010, investor.bg reported.Designed by British architecture and interior design ...

31.10.2008

Leading architectural studios short-listed for design of government centre

The Government centre would spread on 60ha, and the initial plans envision the construction of administrative buildings, hotels, residences for diplomats and sports centers The Regional Development and Public Works Ministry has short-listed six architectural studios for the design of a Government centre, meant to rise on the area near the sixth km of the Tsarigradsko Chaussee Boulevard in Sofia.Out of 19 applicants, the ministry's short-list includes Foster+Partners, a London-based firm led by world-renown architect Norman Foster, who has another project in Bulgaria working with architect ...

31.10.2008

Resort Operator Albena to sell two seaside projects

The complex should be finished by the end of 2010 at a cost of 17 million euroBulgarian resort operator Albena AD has put up for sale its upscale holiday complex in Byalata Lagouna (White Lagoon) area, on Bulgaria’s northern Black Sea coast.The project is up for grabs for 42.5 million euro, and comprises two units of 177 flats, a spa centre with an indoor and an outdoor swimming pool, a beach, a tennis court, a restaurant, a sweet shop, a supermarket and a parking lot.Albena unveiled in June plans to build on the 2.2ha land plot after failing to sell it. The complex should be finished by the ...

31.10.2008