PROPERTY NEWS | PROPERTIES IN BULGARIA (a service of easyBG Ltd.)
1700 Years From
The Edict of Toleration
On April 30, 311, Galerius proclaimed the Edict of Toleration at Serdica (today's Sofia - the Capital of Bulgaria) ending the Christian persecutions. Galerius died on May 5, 311. He was succeeded by Constantine I, his longtime rival. Constantine's rule marked a significant turning point for the Roman Empire, for he was the first emperor to convert to Christianity, but even prior to that had strengthened the original 311 edict of tolerance with his own Edict of Milan in 313, which banned all forms of religious persecution in the empire.
October 20, 2017
The Chief Architect Offers Two Skyscraper Areas far from Downtown Sofia
Two city areas for the construction of skyscrapers will be established in Sofia, in the center of the city the construction will be up to 75 m. This is how the chief architect Zdravko Zdravkov imagines the development of the city, today he made a presentation to the municipal councilors the project for the amendment of the Law on the Structure and Construction of the Sofia Municipality, reports bTV.
The proposed changes "close the loopholes", which allow higher than permitted construction, Zdravkov noted. The height of the buildings are related to both the fire safety norms and the purpose of keeping the "visual corridors" to the mountain.
Thus, the two "high" zones are 7 km away to the Iskar River along Blvd. Tsarigradsko shose and to the west on Blvd. "Tsaritsa Yoana" opposite to the Ring Road. The idea - places that have infrastructure and easy access public transport to develop such complexes, said Zdravkov.
The Western complex will begin to form after the development of the metro station from Lyulin metro station to the new metro station between the second and third micro-district and the construction of a next metro station after the Ring Road, he explained.
In the area of the central station there is an opportunity to build buildings up to 125 m high, the chief architect said.
In this context, a building of up to 75 meters will be located in the areas between Blvd. Tsar Boris Treti, the center, Dragan Tsankov Blvd., Alexander Malinov Blvd. and the Ring Road.
October 5, 2017
Bulgaria is the Leader in Renovating Buildings with Public Funds
Bulgaria is the EU leader in spending public funds in the area of public housing and public amenities. This takes into account Eurostat's analysis of "Housing Policy in the EU" in 2015, quoted by BTA.
Our country has the highest total EU spending on housing rehabilitation and public amenities at 2.1 per cent of GDP. Of these, "housing" in Bulgaria amounts to 1.1 percent of GDP in 2015, Eurostat data show.
To date, over 4,500 energy efficiency certificates have been issued after renovation of residential buildings rehabilitated under the national energy efficiency program. New state funding for rehabilitation may happen in 2019.
In the future, the program is scheduled to continue with co-financing by the participants, and new state funding is expected in 2019. In 2018, the ongoing projects will be completed.
October 3, 2017
Bulgaria Ranks Eighth in Europe in Income from Rented Properties
Bulgaria is ranked eighth in Europe in income from rented property, the online edition simplybusiness.co.uk reports, referring to WorldFirst payment group calculations.
The average income in our country reaches 5.77%.
Leader in Europe is Ireland with an income of 7.08%. Malta is second with 6.64% and Portugal with 6.43% is third.
The top 10 is complemented by the Netherlands, Slovakia, Belgium, Turkey, Cyprus and Hungary.
At the bottom of the list is Sweden with an average rental income of 3.03%. Croatia and France are just ahead of it with 3.82%.
For 12 months, Britain recorded the strongest decline in ranking - 10 positions to 25th with an average rental income of 4%. The reason - the "challenging environment" for homeowners, such as tax deductions for rented dwellings, and tax cuts in a deal to curb speculation because of housing shortages in major cities in the country.
Tightening the requirements for buyers of mortgage lending, investors face the vague prospects of Brexit, which is still under negotiation.
According to Edward Hardy of WorldFirst, the worsening dynamics of the UK's rental market sounds like a signal for a further slowdown in housing markets.
September 6, 2017
Iceland will Tighten the Rules for Acquiring Land by Foreigners
Chinese investors have an enormous desire to invest in tourism in Iceland. But the problem is that local residents are not at all friendly, Bloomberg writes.
Since the North Atlantic nation has fully reintegrated into the international community since the financial crisis, its center-right government now wants to tighten the rules and restrict foreign ownership.
This move comes amid the boom of foreign visitors and new attempts by an unidentified Chinese entrepreneur to acquire an area of 12 sq. Km and build a holiday resort in the so-called Golden Circle of the Island, the most popular tourist destination in Iceland. An even more ambitious Chinese offer was blocked in 2012, the news agency recalls.
Tourism is now the number one industry for Iceland, partly thanks to scenes from a James Bond movie, The Secret Life of Walter Mitty and the Game of Thrones TV series.
The foreign appetite for Icelandic land comes amid the prosperous property market. House prices are rising by 54.6% between December 2009 and July 2017, according to Iceland statistics, as well as the Arctic resources race.
Experts, however, expect China's interest in the country to continue to grow despite stumbling blocks.
August 28, 2017
Rents in Sofia Rise Up with 10%
Rents in Sofia are rising on average between 8 and 10%, according to real estate brokers. In the last year, the biggest rises were of the rooms in Studentski grad, Nova TV reported.
The boom in Sofia is in August and September, experts say. Firstly, because the students come and the second reason is the people who have chosen a new job in the capital.
BGN 500 per month is the amount best suited to most people according to the survey of brokers. The most advantageous is to rent in the spring, and the most desirable neighborhoods in the capital are the eastern.
The trend is that next year there will be no increase in prices, and they will remain at one level.
July 20, 2017
Housing Prices in Bulgaria are Rising with one of the Fastest Rates in the EU
Household prices in Bulgaria registered one of the biggest increases in the first quarter in the European Union on an annual basis - 8.8%. This shows latest Eurostat data released on Wednesday. Reports Investor.
Thus our country ranks fifth in the ranking, with the Czech Republic having a 12.7% increase. Lithuania followed by Lithuania (10.2%), Latvia (10.1%) and Ireland (8.9%).
The statistics show that in the last few years there has been a steady rise in house prices in Bulgaria after it was only 0.7% in the first quarter of 2014. Though prices fell slightly in the fourth quarter of last year, they went up again in the first three months of 2017. Overall, house prices in the European Union grew by 4.5% in the first quarter. The increase in the Euro zone is slightly lower - 4.0%.
March 13, 2017
Bulgaria's Property Prices Up by 12% in Six Months Alone
In six months alone, real estate prices in Bulgaria have jumped by 12%, showed data of the Association of Real Estate Brokers.
In Sofia, the average price is about EUR 1,000 per sq m. There is growing interest in deals in new construction real estate.
Broker Iliyana Vasileva explained that real estate property of up to 60 sq m is most sought after and people purchase such properties in order to invest and lend these. After a certain slump in the market, now there is a deficit in supply:
“Since the beginning of the year, there has been a deficit in the supply of quality real estate in all segments. We are not just talking about small apartments! Let’s say a nice, brick, three-room apartment with a garage. There is no choice and no supply of such offers,” said Vasileva.
This is why ¼ of the buyers are targeting deals in new construction properties.
Sunset on Rila Mountain
© 2017, D. Georgieva
Did you know?
March 13, 2017
Bulgaria's Property Prices Up by 12% in Six Months Alone
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