Bulgaria will close a record number of schools this year, allowing developers to remodel the buildings into hotels, retirement homes, spa centers or small factories, a Dnevnik investigation has found out.
Advance Terrafund, the Bulgarian real estate investment trust REIT, said its agricultural land totaled 24 300 ha at the end of July, up 500 ha monthonmonth and 5300 ha yearonyear.
The Bulgarian Defence Ministry will put 243 properties around the country up for sale in autumn, as it attempts to shed redundant assets, defence minister Nikolai Tsonev said.
Bulgarias property market was treading water with holiday homes emerging as the riskiest segment, Bulgarian real estate investment fund REIT managers said on August 13.
BTC, the dominant Bulgarian fixedline telecom, will seek shareholder approval to transfer 100 real estate properties valued at over 281 million euro to one of its subsidiaries. The general meeting of shareholders is scheduled for September 23.
The average price of land plots suitable for construction near Sofia has increased between 10 and 15 per cent since the beginning of 2008, Era Izida Properties has said, quoted by website investor.bg.
The construction of a new logistics centre has begun near Slunchevo village, in Aksakovo municipality near Varna, Stroitelstvo Gradut weekly has reported.
Fewer property deals have been finalised in the Danube cities of Rousse, Vidin and Silistra since the beginning of the year, according to local real estate agencies, as quoted by website investor.bg. Supply exceeding demand, unfavourable credit terms and overpriced offers are among the factors responsible for the stagnant market, according to agencies.