News For Bulgarian Estates and Property Market

11
Mar. 2008 Loan from the WorldBank for water and sewage in Bulgaria The World Bank lends Bulgaria 88.2 million euro for network upgrades and energy efficiency measures, for the construction of tap water filtration stations and eight dams, Regional Development and Public Works Deputy Minister Dimcho Mihalevski said on a conference on infrastructure projects on March 11, Dnevnik daily reported.
The Cabinet would complement the loan with 21.4 million euro in budget financing, while water and sewerage operators will add another 10.5 million Euros. The upgrades are planed to be completed in 2011.
The loan has a maturity of 17 years and a grace eriod of five years .
Sandanski, Harmanli and Belogradchik will be equipped with tap water filtration stations during 2008, while within a year such facilities will be set up in the towns of Sliven, Doupnitsa, Lyubimets and Svilengrad.
A new water supply system will be built from the Kamchia river to the towns of Biala and Obzor, another one some 20km north of Nessebur resort on the Black Sea Coast, will be built by May. By the summer of 2008, winter resorts Bansko and Dobrinishte will have new reservoirs.

10
Mar. 2008 Preparation of an antiterrorist program in Sofia The Bulgarian capital - Sofia will develop a special antiterrorist program by training Municipality's employees in taking actions in case of a terrorist attack, Ivan Boyadzhiev reported, the newly appointed expert to head the antiterrorist department with the body.

"We are going to train the public transport staff, teachers and workers in big municipal buildings," Boyadzhiev said.

He also said he is to prepare a concept for taking such preventive measures, which would be launched as soon as it is approved by the Mayor of Sofia Boyko Borissov.

Boyadzhiev, who takes the post of the antiterrorist expert for about a week, claimed he will do his best to help the deputy mayor, responsible for the security in the capital city.

07
Mar. 2008 The growth of the Bulgarian property prices is expected to continue Bulgaria's real estate market has been on its rise over the last few years, with prices of Bulgarian properties rising by 30.6 per cent in 2007, but their growth is expected to continue at a more moderate pace this year, home and property portal homemove.co.uk said on March 3.
Many people were eyed Bulgaria for holiday investments due to its natural landscape, the beaches, the coastline along the Black Sea, historical attractions, skiing opportunities.
In its guide to buying property in Bulgaria, the portal warned about the fact that buyers paid the bulk of transaction costs, which can reach 25 per cent of the total purchase price, and sometimes even more.
Properties in rural areas offered little rental income, if any, and were better investments for individuals who seek a retirement house. Typically, these properties sell at tempting prices, it said.
Other shrewd investments could be struck in mineral spa regions or in some of the historic cities, like Veliko Turnovo. Currently, non-residents cannot buy land in Bulgaria, but they will be allowed to do so, as well as inherit it, starting from 2014.