NEW CONSTRUCTION
Despite the new Law for the Black Sea Shore which came into effect in January of this year, the developers have found a way to continue building right on sea shore. They call their buildings apartment complexes instead of hotels. However, because of the new restrictions for the height of hotels on the shore and for their size – the height of a hotel should not exceeding 7.5 metres which in reality is two or three floors – it is expected that investments in such hotels will not have a good return. The investors have switched to building villas and have ignored the warnings of the experts for a property slump.
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Category: Bulgaria, Economy, Property | Tags: apartment complexes, building, developers, hotels, investment, Property, return, sea shore, slump, villa Comment »