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	<title>LM Legal Services Blog</title>
	<link>http://lmlegalservices.com/blog</link>
	<description>Advice when you need it most</description>
	<lastBuildDate>Mon, 08 Mar 2010 14:57:09 +0000</lastBuildDate>
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		<title>Bulgarian Property Market</title>
		<description><![CDATA[The forecasts for a slow down on the property market in Bulgaria came true &#8211; it is back to the levels of 2004. The number of deals with real estate have dropped by 35% in 2009 and stopped at 200 678. This drop was deeper than the one in 1997 &#8211; 1998 when the country [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/730</link>
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		<title>Office Space in Bulgaria</title>
		<description><![CDATA[In the last quarter of 2009 the first signs of activity have appeared on the rental market of office space in Bulgaria. Analysts claim that this was due to the efforts of the owners to stimulate prospective tenants with bonuses like rent free periods and payment of the relocation. The much lower rents of newly [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/726</link>
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		<title>Construction Of New Buildings &#8211; 70% Drop</title>
		<description><![CDATA[
The number of new buildings in Bulgaria has dropped by 70% on an annual basis. In the last quarter of 2009 the number of the new planning permissions was 1343,  while in the same period of 2008 they were 2452, according to the National Statistics Institute.  This huge drop has come after 5 years of [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/724</link>
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		<title>2009 &#8211; Bulgaria&#8217;s GDP Falls</title>
		<description><![CDATA[The last quarter of 2009 was the worst one for the Bulgarian economy. According to the National Statistics Institute Bulgaria&#8217;s GDP has fallen by 6.2% and it has been 17,858 billion levs (about 8. 5 oo billion Euros). The real annual drop for 2009 was of 5.1% in comparison with 2008. The official forecast of [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/721</link>
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		<title>Russians Prefer Bulgaria</title>
		<description><![CDATA[In 2009 the Russians have spent 11.3 billion USD to buy second homes abroad, according to the review of the department for properties abroad of the Russian estate agency DOKI. Properties in Bulgaria are the most popular among Russians and 21% of the clients of the agency have been interested in buying second homes in [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/717</link>
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		<title>Bulgarian Property Market 2009</title>
		<description><![CDATA[Almost 28% is the decrease in the number of deals on the property market in Bulgaria annually. This number is different in the different parts of the country but only Sofia and Varna have similar statistics. 72% of those who would like to buy a property in Sofia and Varna are prepared to pay not [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/713</link>
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		<title>Property Prices in Sofia and in Plovdiv</title>
		<description><![CDATA[Prices of properties in Sofia and in Plovdiv have dropped by approximately 17% in the third quarter of 2009 in comparison with the same period of 2008. The average real purchase prices of apartments in Sofia are similar to the ones at the end of 2007 and in the beginning of 2008. The prices of [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/708</link>
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		<title>Prices of Luxury Property</title>
		<description><![CDATA[In the last months the highest price of a property purchase in Sofia was 3000 Euros per sq m. This is half of the top prices paid for luxury properties two years ago.  The owners of expensive properties sell them now for two reasons &#8211; some experience financial difficulties, others think that with the money [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/706</link>
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		<title>Minimal required share-capital of a limited liability company is lowered to 1 Euro</title>
		<description><![CDATA[With changes in the Commercial Law the minimal required share-capital to register a limited liability company in Bulgaria has been lowered to 1 Euro. The changes have been published in the State Gazette today and shall be in full force and effect as of 20 October 2009. Before the change the minimal amount required was [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/701</link>
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		<title>Property Prices In Affluent Areas</title>
		<description><![CDATA[The prices of the apartments in affluent areas of Sofia have dropped by 20 %. The most serious price drop is in the area of the Doctor&#8217;s Garden &#8211; by 33% and now the price is 1500 Euros per metre. This is due to the fact that the properties offered at unrealistic prices have disappeared [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/696</link>
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		<title>British sunseekers flock back to Spain and France in search of bargain holiday homes</title>
		<description><![CDATA[By Kevin Rose, The Independent

As property prices fall across Europe, the chance of owning a holiday home abroad may never be better. And with sterling struggling against foreign currencies – touching a six-month low against the euro on Thursday – it may be wise to get moving sooner rather than later. But where are the [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/693</link>
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		<title>Bulgarian Property Market &#8211; An Overview</title>
		<description><![CDATA[In the next four to five months the property price drop in Bulgaria will be much of smaller scale, according to analysts. After that the property market will hit the bottom.
According to the statistics, the property prices in Sofia drop slower in the last months. In February the price drop was of 6.88 % while [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/691</link>
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		<title>Property Market In Bulgaria &#8211; Update</title>
		<description><![CDATA[The prices of properties on the Bulgarian Black Sea coast have dropped by 15-30% while those of inland properties by almost 70%.
Newly built apartments sell for 390 Euros per sq m. In Sunny Beach there are completed apartments for sale for 20-30 000 Euros, which is below their value.
Properties in the big cities like Sofia, Plovdiv, [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/688</link>
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		<title>Bulgaria to yank cash out of property deals</title>
		<description><![CDATA[Dnevnik Daily
A new public institution will be set up in Bulgaria to manage and control amounts from all real estate transactions in an effort to bring them into the light and crack down on money laundering in the industry.
The new Deposit and Consignation Fund will be inaugurated by special legislation hammered out by the Ministry [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/684</link>
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		<title>The Bulgairan Economy &#8211; Forecast</title>
		<description><![CDATA[The Bulgarian economy will continue sinking in 2010. The decrease of the GDP will be of 1%, according to the Agency for Economic Analysis and Forecasts.  For 2009 the expectations are of a significant  decrease of the GDP of 6.3%.  Bulgaria will be in recession for two consecutive years.  The decrease of the investments and [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/682</link>
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		<title>Commercial Property In Bulgaria</title>
		<description><![CDATA[In the first half of 2009, the worldwide recession has had its effect on the market of commercial property in Bulgaria &#8211; the number of frozen and delayed projects of shopping centres and malls.
Among the frozen projects in Sofia are Euro Park for 500 million Euros, Sofia Acropolis for 500 million Euros, Tsarigradski Mall (35 million [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/677</link>
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		<title>Banned Construction In Forests</title>
		<description><![CDATA[The construction of buildings in the forests will stopped with a moratorium on the change of the purpose of exchanged land formerly belonging to the State Agricultural and Forestry Fund, according to the new Bulgarian Minister of Agriculture Miroslav Naydenov.

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		<link>http://lmlegalservices.com/blog/archives/674</link>
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		<title>Dead Zone Hotels</title>
		<description><![CDATA[5% of the newly built hotels will become &#8216;dead zone&#8217; within 10 years &#8211; abandoned hotels with stolen windows, doors and tiles, hanging cables and no roofs, according to analysts. 
At the moment 20% of the hotels in Bulgaria are closed and at least 5% of them are not viable from a business point of [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/667</link>
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		<title>Bulgarian Property Market</title>
		<description><![CDATA[
The number of purchases of property in Bulgaria has decreased sharply according to analysts. In the first six months of 2009 in comparison with the same period of last year the number of property purchases has decreased on average by 42% for the country as a whole and by 58% for the capital Sofia, based [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/665</link>
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		<title>Office Rentals</title>
		<description><![CDATA[Office space, shops and industrial space are rented on average for 5 years in Bulgaria. In case of contracts with longer term, the rent is lower than the average and the tenants secure the use of the office for a long time. On the part of the owner long term rental contracts secure a guaranteed income from [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/654</link>
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		<title>Bulgarian Property Market</title>
		<description><![CDATA[The average decrease of  property prices in Bulgaria is by 23% in the first six months of 2009. There are areas of the country and especially cities where due to  overpricing, now the decrease is exceeds 30%. The expectations of analysts are that by the end of the year prices will decrease further by 5% to [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/650</link>
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		<title>Houses on the Bulgarian Black Sea</title>
		<description><![CDATA[The priceses of houses on the Black Sea coast in Bulgaria have fallen on average by 26% and in some cases they go as low as 200 Euros per sq m.  However, the supply of properties for sale has dimished as only owners who need cash urgently sell.  The supply of properties in the southern [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/648</link>
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		<title>Sea Side Hotels For Sale</title>
		<description><![CDATA[More than 70 hotels in the area of Varna, among them 4-star hotels in Golden Sands have been put for sale.  Almost all of the hotels are open and operating, only a few are still being built. The small family hotels are predominating among them. All the sale prices of the hotels are in Euros, [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/643</link>
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		<title>The Construction Business &#8211; Statistics</title>
		<description><![CDATA[The construction of new apartment buildings, offices, shops, roads and others has decreased by 11% in May 2009 in comparison with April 2009, according to the information of the National Statistics Institute based in Sofia. The sharpest drop is in the number of the new apartment buildings closely followed by infrastructural projects. In comparison with [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/639</link>
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		<title>Property Prices Reach New Bottom</title>
		<description><![CDATA[It is expected that the prices of apartments in Bulgaria will reach a new bottom at the end of this year and in the beginning of the next one.  The analysts predict that the further decrease will be moderate and will not exceed 10%.  The property prices will stabilize in the first half of 2010.
So [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/630</link>
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		<title>Major foreign investments in Bulgaria</title>
		<description><![CDATA[Reuters
Bulgaria has attracted 24 billion Euros in foreign direct investment since 2005, when the Socialist-led
government came to power, but the global crisis has hit the flows and put an end to the credit-fueled economic boom.
Economists say Bulgaria is now paying the price for not using the boom to boost productivity and encourage exports. Here are [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/625</link>
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		<title>The Bulgarian Banking System</title>
		<description><![CDATA[
59.8 billion levs  have been held in Bulgarian banks in May 2009 which is a decrease by 437 levs, according to the Bulgarian National Bank (BNB). This is the second most serious decrease of the amount of money in the Bulgarian banks since the beginning of the year. This is mainly due to the fact [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/622</link>
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		<title>Office Rentals</title>
		<description><![CDATA[Office rent in Sofia has decreased in comparison to the end of last year and at the moment is between 10 and 15 Euros/sq m. The decrease is due to mainly two reasons. Firstly, the economic recession and secondly, the highest number of new offices for rent, both because of the high number of newly [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/618</link>
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		<title>Ex-pats</title>
		<description><![CDATA[The ex-pats who have moved to the Bulgarian Black Sea coast are selling their properties and leaving Bulgaria in great numbers. They have lost their hope to make a profit by renting their apartments. They offer their properties for sale at prices which are 20% lower than in the last year. Studios are for sale [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/614</link>
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		<title>Bulgarian Property Market &#8211; Overview</title>
		<description><![CDATA[The direct foreign investment in  construction and in properties  in Bulgaria in the first quarter of 2009 was 208 million Euros which is a decrease by 59.3% in comparison to 2008 whe it was 511.2 million Euros.
In the first half of 2009 the prices of properties for sale in the country have decreased by 5.95% [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/609</link>
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