Price increases in the lodging property sector worldwide slowed down in the first quarter of 2008 to reach 6.1 per cent on an annual basis. But Bulgaria still heads the price hike, according to the Global House Price Index of UKs real estate company Knight Frank.The price increase registered in Bulgaria was 31.5 per cent for the first quarter of 2008, investor.bg said. Bulgaria also occupied first place in the same ranking for the last quarter of 2007 with a 33.7 per cent price increase.
On May 28, Nike Investment Group turned the first sod of their project Central Life City Estates in Sofias Tsar Simeon street. The development will have 27 residential and four retail units on total builtup space of 4000 sq m.
Real Estate Services Bulgaria, developer of retail complexes Mall of Sofia, Mall Plovdiv and Mall Rousse, announced plans to build a fourth retailentertainment complex in Stara Zagora, RESB said in a statement.RESB will be partnering with Gradus1 OOD, active in food production and a leading company on the Bulgarian poultry market. The 72 million euro project was showcased on May 27 in Stara Zagora to city officials, among them mayor of the town Svetlin Tanchev
Real Estate Services Bulgaria, developer of retail complexes Mall of Sofia, Mall Plovdiv and Mall Rousse, announced plans to build a fourth retailentertainment complex in Stara Zagora, RESB said in a statement.RESB will be partnering with Gradus1 OOD, active in food production and a leading company on the Bulgarian poultry market. The 72 million euro project was showcased on May 27 in Stara Zagora to city officials, among them mayor of the town Svetlin Tanchev
Sofias future Simeonovo River Park residential development will cost about 100 million euro to build, Ivo Koloushev, director of Bulgarian developer Litos, told SeeNews newswire.The company controls a 50 per cent stake in the project and the remainder is in the hands of an unnamed foreign investor.
Living standards in Romania were developing in greater harmony with the countrys property prices than in Bulgaria, Teodora Dimitrova, executive director of ERA Balkan Estate said at a news conference on May 26 2008. ERA is the first franchising network in Europe for property sale, Focus news agency said.On May 26, ERA announced its entering the Romanian real state market.
Rental prices in the city of Varna on the Black Sea were the highest in the country, local Narodno Delo daily said on May 26 2008.According to the paper, luxury apartments registered the highest increase, 22.1 per cent, compared to May 2007. Rents of unfurnished housing went up by 19 per cent, while furnished ones increased by 17 per cent.
Mall Varna, the second mall in the Black Sea city of Varna, will open its doors to customers on June 12 with a fourday grand opening programme, the shopping centre said in a media statement on its website on May 21.It will allow 100 people, picked through a lottery on its website, a sneak preview two days earlier.