Category: General


PROPERTY SALES AND RENT IN BULGARIA – STATISTICS

November 23rd, 2011 — 5:53pm

According to the property analysts 40% of the property buyers in Bulgaria are prepared to pay between 50 and 80 000 Euros for their purchase. They are the largest group of property buyers in the country. In the second place (23%) are the buyers ready to pay between 80 000 and 120 000 Euros and in the third place (again 23%) are those under the 50 000 Euros margin.
According to the official statistics 40% of the sales have been of properties that cost from 30 000 to 50 000 Euros, followed by a group of properties (24%) that cost between 50 000 and 80 000 Euros. Although apartments under 30 000 Euros are the least in demand, the actual sales of such properties are 14% of the total number of the sales. The sales of apartments with prices exceeding 120 000 Euros are 7% of the actual sales which is equal to the number of enquiries for properties within this price margin.
Concerning rent, almost 60% of all enquiries were for apartments that rent for less than 250 Euros per month, of them 40% fall in the 150-250 Euro margin. However, the highest number of rental contracts (66%) is signed for properties that rent between 250 and 500 Euros per month. In the second place (17%) are those that rent for more than 500 Euros per month and in the third place (17% again) are properties renting for less than 250 Euros per month.

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Comment » | Bulgaria, Economy, General, Property

LOWER TAX FOR LARGE INVESTORS

October 7th, 2011 — 6:18pm

During his meeting with some large Czech investors the Bulgarian Prime Minister Boiko Borissov has announced that his government will introduce new concessions for large companies investing in Bulgaria. The PM explained that these concessions will include lower taxation and support with plots of land and infrastructure. The Bulgarian government thus will try to attract large companies to the country.

According to the Czech government, some of the largest Czech investments abroad are in Bulgaria. PM Borissov underlined that it is not clear if the budget of Bulgaria will be able to provide funds for the Bulgarian-Czech Euro projects in the next two years.

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Comment » | Bulgaria, Economy, General

Re-registration deadline

June 8th, 2010 — 12:59pm

The deadline for re-registration of companies in Bulgaria will expire 2 years, 235 days ago. In practical terms this means that all companies registered in Bulgaria prior to 2008 (when the new Commercial Register started working) will have to submit documents for re-registration. All companies failing to do so will be terminated by the State authorities and their owners will be required to cover the expenses for the proceedings.

Unlike some websites who claim that this should be done before June 2010 in fact there is enough time to complete the procedure but in any case this matter requires urgent attention from anyone who has a company in Bulgaria registered before 2008 and especially if this company owns property in Bulgaria (apartment, land, house, etc).

Should you wish to use our services for re-registration of your company in Bulgaria please do not hesitate to contact us for a quote.

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Comment » | Bulgaria, General, Legal, News

WHO IS TELLING THE TURTH

September 1st, 2008 — 4:49pm

The forecast of Bulgarian and American analysts for the future of the real estate business in Bulgaria are absolutely different.

According to the National Revenue Agency, the business climate in Bulgaria has got worse by 1.1 points. According to 69% of the interviewed industrial and construction business managers, the sale prices will not change in the next three months, 20,5% of them expect a decrease, while only 10,5% predict an increase. The unstable business environment and the lack of qualified workers are the reasons for the decrease by 2.5 points of the business climate in the construction industry in July alone. The increasing competition and the rising prices of materials make the business more difficult. At the same time more clients delay their payments. Despite this developers expect price rise in the next three months.

According to the US analyst Nouriel Roubini, Bulgaria’s future is bright due to the good financial policy and the high level of the foreign investments in the country. However, he expects slowing down of the Central and Eastern European economies in 2008 which is in tune with Western Europe. The new EU-member states are tied to the West as 65% of their export is in the Euro zone. It is expected that Bulgaria and Romania will show steady but stable progress.

Having in mind the current account deficit of 20% of the GDP and the frozen EU funding it is difficult to predict Bulgaria’s future.

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Comment » | Bulgaria, Economy, General, News

PROPERTY MARKET SLOWS DOWN

August 22nd, 2008 — 12:52pm

The number of planning permissions issued in the first half of the year have decreased by 6%. 4300 new buildings with total area of 2,8 million square metres have been approved for construction, 62% of them are new apartments. The number of the new office spaces have stayed the same, while there has been a sharp decrease in the number of all other types of buildings.

The highest number of planning permissions have been issued in Sofia, Plovdiv is in the second place, while Varna is in the third. Plovdiv heads the list with the highest number of planning permissions for new office buildings.

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Comment » | Bulgaria, General, Property

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