| Bulgarian Real Estate - The Growth
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| | strengthening of the future EU external
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| Continues
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| | borders. All are seen as areas of concern
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| Figures from the National Statistical
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| | and part of the EU accession process,
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| Institute indicated that the average
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| | with EU membership expected in 2007.
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| prices of flats in the Regional capitals
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| | * * *
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| of Bulgaria have shown a rise of over 36%
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| | Brits Invest and Holiday in Bulgaria in
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| in 2005.
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| | Record Numbers
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| The prices of flats in the capital of
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| | The British have been heading to Bulgaria
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| Sofia saw the highest rise of 20.2% with
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| | in record numbers. The country is not
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| prices averaging 1,222.4 leva/sqm. The
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| | only proving more and more popular as a
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| highest percentage of growth was
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| | destination for British holiday makers
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| registered in Vratsa, where the prices of
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| | but many are also buying investment
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| flats rose by an astounding 86.1% and
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| | properties and holiday homes in the
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| prices are at 464.8 leva/sqm.
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| | country.
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| Other areas of growth for the same period
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| | James Knight, Managing Director of
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| include:
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| | leading property specialist Knight
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| Yambol up 72.1 per cent to 513.6 leva/sqm
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| | International ( has predicted that 1.2
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| Silistra up 70.1 per cent to 406.5 leva
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| | million British tourists will probably
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| sqm
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| | choose to visit Bulgaria for a holiday in
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| Varna up 25.6% to 1,198.1 leva/sqm
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| | 2008.
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| Bourgas up 46.2% to 1,126.5 leva/sqm
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| | In 2002 there were 100,000 Brits
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| * * *
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| | travelling to Bulgaria for a holiday.
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| Sofia Olympic Bid Gathers Momentum
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| | This number has risen heavily each year
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| In a move which signals the determination
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| | and was up to 400,000 for last year,
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| to put Bulgaria on the tourist map and
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| | 2005.
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| commit to major infrastructure
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| | Knight cites that Brits now know a lot
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| improvements, the government has
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| | more about Bulgaria and the country is
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| confirmed its support for the Bulgarian
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| | now seen as been within their "comfort
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| capital to host the 2014 Winter Olympics.
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| | zone" for holiday destinations, along
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| "We should be aware that the road ahead
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| | with other countries such as Italy,
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| is long and difficult. Achieving the aim
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| | France and Spain.
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| will be good not just for the development
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| | The cost of a holiday is also vastly less
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| of the Olympic ideal, but for the
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| | than that of a similar holiday in France
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| development of winter sports andwinter
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| | or Spain due to the lower cost of living.
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| tourism in Bulgaria as a top priority of
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| | There is also an impetus on the expansion
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| the economy as well," Prime Minister
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| | work been carried out at airports such as
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| Sergei Stanishev said.
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| | Burgas and Varna to allow the passage of
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| The first stage in the process concludes
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| | an increasing number of tourists.
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| in June 2006 when the number of competing
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| | Low-cost airlines are also doing their
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| cities is narrowed down to four. These
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| | bit with more flights than ever in and
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| cities will then continue the bidding
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| | out of the country. The completion of
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| process right up until June 2007 when the
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| | construction work at the airports will
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| winning city is named.
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| | open the market to more low-cost carriers
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| Major highway projects will be given
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| | resulting in greater competition, lower
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| priority as the State and Sofia
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| | prices and improved flexibility for the
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| Municipality, along with the Bulgarian
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| | traveller.
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| business community work together to
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| | On the property front, the number of
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| ensure the best possible outcome of their
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| | Brits buying second homes in Bulgaria has
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| bid. Winter tourism will also greatly
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| | risen 77% in 2005. Alex Wright, director
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| benefit as a result of a successful bid.
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| | of British Consultancy Company HIFX
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| * * *
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| | comments "Although France and Spain
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| EU Integration
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| | remain the most popular destinations to
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| This week saw the arrival of European
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| | buy abroad, due to their proximity and
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| Commission Vice President Franco Frattini
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| | the cheap price of travel; British
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| in Bulgaria. Frattini met with the Prime
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| | citizens are starting to look further a
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| minister and many other government
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| | field,"
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| ministers along with Justice Minister
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| | He adds "Bulgaria also is booming and the
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| Petkanov and senior judiciary members.
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| | Black Sea resorts are reminiscent of
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| Items up for discussion included judicial
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| | Spain 20 years ago; investors are buying
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| reform, the suppression of human
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| | in their droves and there is similar
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| trafficking, corruption and the
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| | activity in some of the ski resorts.
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