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Raiffeisenbank unveiled its first brokerage and property lending unit in the northern town of Ruse. The steady demand for mortgages and Bulgarian properties continues, said Raiffeisenbank board member Momchil Andreev. Moreover, many people plan to buy homes or renovate existing ones. The ribbon-cutting ceremony coincided with the bank s tenth anniversary in Ruse. The lender has four offices in the town and nine in the area. Source: Pari, PIV Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

Foreigners who buy Bulgarian banks make efforts to delist them from the local stock exchange. This is what Eurobank EFG did with the shares of DZI Bank and Belgian KBC did with the stocks of EIBank. One the other hand, First Investment Bank and Corporate Bank, which have Bulgarian owners, listed their shares for trade. Now INVESTBANK will follow suit. The bank will issue 10 million new shares with a face value of 1.0 lev each.(1EUR=1.95levs) The minimum subscriptions target is set at 8.5 million stocks. The bank may raise 72 mln levs if all shares are subscribed. Source: Banker, P5 Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

Bulgarian bank forecast 50 pct or 60 pct increases in new loans till the beginning of 2008 but their latest projections are much more modest with most of them seeing 30 pct to 40 pct growth or even 20 pct. It seems as though banks have taken heed of the central bank s order to slash lending. At the same time, deposits are not increasing because lenders rush to give out attracted resources in new loans. Most banks said in the very start of the year they would raise their loan interest rates by between .25 pct and 0.5 pct. The reason is that the price of foreign funding is soaring as the market shakes under a credit crunch. In addition, household and corporate deposits do not increase quickly enough. To crown it all, banks re-registration is hurdled by poor administration. DSK Bank, UBB, Piraeus Bank Bulgaria and MKB Unionbank topped Banker weekly s ranking of the most active lenders for March 2008. The market s 24 players are judged by loan portfolios, total assets share and annual growth. UniCredit Bulbank and Eurobank EFG are not in the table because they were born in mid-2007. Source: Banker, P6-7 Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

The town of Ahtopol has population of about 1,500 people and is situated over a sharply jutted cape 87km southeast of Burgas. It has two long and beautiful beaches, the second one (further to the north of the town) being used mostly by nudists. The town occupies the place of a Thracian settlement. It was probably colonized in the 6th century BC. The Romans called it Peronticus while the Byzantine leader Agaton reconstructed the town after barbarian invasions and gave it his own name, Agatopolis. The town frequently changed hands between the Byzantine Empire and the Bulgarian state. With the arrival of the Ottoman troops at the end of the 14th century, it was called Ahtenbolu. It was burnt down and devastated by sea pirates many times with the most recent fire being in 1918 when the town was completely destroyed. Google Map of Ahtopol Remains of the town s fortress and a fountain with a carved horseman are the only traces left from old times. Assumption Church and the St. Yani Monastery are interesting sights for tourists. In the afternoon and evenings, romantic visitors enjoy walking to the town s lighthouse and crawling over the nearby rocks next to the quay, beneath which one can see a lot of crabs and fish. Five kilometers south of Ahtopol is the mouth of Veleka River, one of the most beautiful rivers, which flow into the Black Sea, together with Kamchiya and Ropotamo. The mouth of the river is barred by a strip of sand stretching from one shore to the other, where some holidaymakers prefer to sunbathe and take turns in swimming in the river (which traditionally has much colder water) and the sea. The village of Kosti, famous for its nestinarski dances (barefoot dances on glowing embers) is situated nearby the river mouth. Further south to the border, holidaymakers can sunbathe at the beautiful beaches of Sinemoretz, Silistar and Rezovo (the latter though being a rather small one). Prices in Ahtopol are rather low due to the plenty of private lodgings and bungalows outside the downtown. While some of the bungalows fall in the lowest category, others are luxurious family villas, hidden among flowers and trees. Yet the latter class usually has to be booked beforehand. Besides, one of its key assets is the highest number of sunny and hot days during the season. The resort is preferred by young people (with the most dominant group being hard rock and heavy metal fans due to the few specialized rock cafes in the town such as Tsunami and Durvenoto - the latter literally meaning The Wooden One ) and Bulgarian families with children and pets for the plenty of low-price accommodation in bungalows and villas. There are a large number of pubs down the two main streets in the town and close to the quay, offering fish specialties and traditional Bulgarian cuisine. Prices are generally low. Fishermen also sell freshly caught fish around the quay, while one can buy fruit and vegetables from local growers with improvised stalls all over the town.   There is regular bus and minibus transport to Burgas (passing through most of the towns and villages in the southern part of the coast) and the nearby towns of Sinemoretz and Rezovo (the latter being already a part of the border area) to the south. click here to view photos of Ahtopol source: http://bulgariansearesorts.com Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

Bulgaria is emerging as a popular destination for tourists who want to cure their teeth for nothing. Some witty dentists even bundle the treatment with sightseeing tours. On the other hand, they woo Bulgarians with bank loans. Many of the big dental hospitals have joined forces with certain banks over softer loan terms for dental treatment. The money is transfered to the dentists who guarantee the repayment of the loan. Source: Telegraph, P8 Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

State fund Agriculture will team up with DSK, UBB, Tokuda Bank and Corporate Bank for the rural areas development program. The parties will jointly encourage the development of Bulgaria s rural regions. The financial engineering agreement they signed yesterday contains specific forms of cooperation. The banks will finance the projects under the EU programs approved by the fund. They will also extend guarantees for the implementation of the projects. Source: Dnevnik PIII Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

The Bulgarian financial market has been thriving over the recent years. One of the new products that appeared there is repo deals, which are available form a number of banks and larger non-bank institutions. They should only be signed with shares from big and liquid bourse players. Investbank chief dealer Mincho Minchev named local industrial conglomerate Chimimport and Eurohold some of the good companies for the purpose. The article gives the gist of repo deals and compares them to customer loans. Source: Capital,P67 Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

There are no surprises on the Bulgaria Property Market for the first half of 2008. Bulgaria Property prices increased on average with 12 pct. The most significant increase is seen in Ruse with 24.3 pct. In some parts of Ruse, property prices almost match the ones in Sofia and Varna. On the rental Bulgaria Property market, rent has increased by 18.9 pct in Sofia for apartments and by 16.1 pct for houses. In other parts of the country a steady and slow increase of 10 pct has been observed. This however, is less than the increase over the previous three years. Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

Bulgarians have taken the largest percentage of foreign-currency loans in the world, Erste Banks said in a report. Local experts say that euro-denominated loans are more popular than those in levs despite the higher price because the foreign currency in considered more stable. Lending in Bulgaria zoomed more than 80 pct in 2007 compared to 2006, according to the report. Companies have taken 77 pct loans. Further increases are expected this year. For instance, mortgage lending is seen up by a whopping 88 pct due to the construction boom and the relatively lucrative interest rates. Yet banks are expected to further tighten lending requirements and hike rates over the coming years. Source: Netinfo (27/06) Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

Bulgaria Property price for the first half of 2008 (1 EUR = 1.95 BGN) Please read Bulgaria Property Index, for important notes and facts. Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

With the inflation hovering around us as much as 15 pct, there is no fund, deposit or another asset that does not promise a higher interest rate. Deposit interest rates are gliding up and banks are offering an annual return of 6.0 pct (with various strings attached). Shares on the Bulgarian Stock Exchange have been plunging for as long as nine months and the main indices are 40 pct below their peaks. The property market in Bulgaria is showing signs it would be more selective and experts do not write off the possibility for stagnation or even fall of the prices in certain segments. Financial experts themselves are at a loss as to what is best to invest in. Capital weekly invited some of the leading banks and brokerages to offer specific investment portfolios that can beat the inflation rate. The ECB recently raised it s key rate by 0.25 points to 4.25 pct for the first time since the start of the crisis. This is impacting on the Bulgarian banking market, where the race is tightening for resources are foreign parent companies are batting liquidity problems. The rates of euro-denominated loans and some 1.0 percentage point lower than those of local-currency loans. And yet neither is enough to cover the inflation. But for the crisis, the growth is giving the developing markets an edge. Most analysts agree that the emerging markets will suffer milder consequences from the crisis than the USA and the UK. For instance, Raiffeisen Capital Management, which runs 39 mln euro worth of assets, says the eurozone s GDP will slump to 1.7 pct and edge down to some 7.0 pct from last year in the emerging markets. Source: Capital, P12-13 Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

All banks that have given loans for SAPARD projects will be informed of the frozen amounts so that they know which installments will be delayed, Agriculture Fund head Atanas Kanchev said. Brussels stopped the funding under certain SAPARD measures ad also barred the budget from financing the contracted projects. Source: Telegraph (12/07), P5 Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis

The central bank s credit registry will launch a new service allowing banks to sift through disloyal loan applicants. The registry will keep credit files of all bank customers. Bad loans stood at 915.9 mln levs in May 2008, under central bank data. They made 2.17 pct of all corporate and household loans. Twenty-four banks operate in the coastal city of Varna versus 31 two years ago. The decrease is due to the consolidation of Bulbank, Biochim and Hebros into the powerful Unicredit Bulbank, Postbank recently joined forces with DZI Bank into Eurobank EFG Bulgaria. Source : Narodno Delo (28/06), P7 ShareThis

Pari daily will award today the most prestigious prizes in the Bulgarian finance sector - Bank of the Year. Twenty-four banks are competing for the awards, which will be given for the 11-th time in the categories market share,dynamics, efficiency, bank of the year and customer award. The 2007 Bank of the Year will go Raiffeisenbank, DSK Bank, Agricultural Credit Bank and Postbank. Raiffeisenbank, DSK Bank, Agricultural Credit Bank and Postbank have received the Bank of the Year award twice. It has also been given to Bulbank, First Investment Bank and UBB. Bulbank has also won the market share award. Source : Pari, P6 ShareThis

The Bulgarian central bank set the base interest rate at 5.06 pct, which is double from March 2006. The rate is based on the LEONIA index, which, in turn, depends on the price of resources on the interbank market. The price of Bulgarian money is rocketing due to the big demand from banks and the many foreign investments. Source : Pari, P6 ShareThis

The conservative mutual funds reported a positive return in first-half 2008, showed data of the Bulgarian Association of Asset Management Companies (BAAMC). The riskiest schemes, which thrived a year ago, reported negative return with some of them sinking as much as 30 pct. Advance IPO Fund was the only one to stay in the black but it had a 0.91 pct return. The fund was created last year and focuses on initial public offerings at home and abroad. Ten mutual funds achieved positive return. DSK Standard made to the top three. The return of six funds sagged 30 pct. Most of the funds with largest assets had negative return due to the intense investors interest in risky schemes last year. Six of the schemes with assets of over 30 mln levs reported a negative return of over 14 pct. The list includes Raiffeisen (Bulgaria) Balanced Fund and DSK Growth. Source: Dnevnik, PXII ShareThis

 A Project of GTC will Add Some 27,00 sq m Retail Space in Stara Zagora The estimated investment in Galleria Mall is around EUR 53m. The developer is Galleria Stara Zagora, company majority owned by Poland-based real estate developer Globe Trade Center (GTC). The complex will have 36,400 sq m built-up area and 130 shops. The entertainment are will be on the last floor and will include a multiplex with seven cinema halls, restaurants, a food court, electronic games and a casino. ShareThis

GM Stroy, developer and general contractor of the project, will raise the building on 0,4 hectares of land. The total building-up area of the retail center will be 17,500 sq m. According to the preliminary estimates, the investment will total EUR 8,5 m. ShareThis

Bulgaria is one of the most expensive destinations in the central - and eastern - European region for industrial development. Bulgaria s location is extremely favorable for investment in logistics projects, although we have not yet observed rapid growth typical for countries like Poland and the Czech Republic. Certainly, this is because of the fact that Bulgaria s real estate development lags behind Central Europe s. However, this does not explain why Romania has outstripped Bulgaria in logistic development, while in regard to all other segments the two countries are on equal levels. Most industry professionals, however, say that new retailers, which are entering the market, actually accelerate the development of logistic centers. Twenty malls have been projected in Bucharest alone and there are at least twenty more in other cities in the country. But malls are being built in Bulgaria as well. The main advantage of Romania is its size , Vlad Dimitrescu, of the Romanian unit of Prologis, assumes. Since 2006, the Romanian logistic has been making rapid progress. Demand for logistic space in some areas has seen huge increase and supply is respectively trying to respond to the new requirements. Three hundred thousand sq m of new logistic space is due to for delivery in Romania in 2008. Excessively high prices of land are one of the main problems investors face in Bulgaria. There is huge disparity between land values and rental levels, the Managing Director of Elta Consult CBRE, Valeri Leviev, said. Some areas, which have seen investment in other market segments, have higher prices of land, which makes these locations inappropriate for logistic development. Prices for land, suitable for logistic activities in Sofia, average between EUR 50 and 60 per sq m, twice the values found in Bucharest, which range from EUR 25 to Eur 35 per sq m. This adds to higher construction outlays (which increased by 10 to 12% in 2007) and additionally raises the expenses for projects, turning Bulgaria into one of the most expensive countries in the central - and eastern - European region in terms of cost of logistic developments. Another drawback for developments is the fact that the process takes too much time from land purchase, provision of public utilities to obtaining construction permits, said Rory Mepham, of Pinnacle, and industrial real estate developer in the CEE. Nevertheless, developers have great interest in buying Bulgarian property. Light industry is intensely advancing in Bulgaria and to get their plans in the pipeline Elta Consult CBRE s Leviev notes. ShareThis

The residential market is yet to progress. High land prices and poor infrastructure are some of the major problems on Bulgarian residential market, Mr.Liron Or (Engel), Mr.Rosen Plevniev (Lindner Immobilien Management), Mr.Ivan Mekushin (Winslow) and Pablo Losada (Martinsa-Fedesa) agreed. Somewhat out of touch with global financial issues and foreign buyers chill, developers are still the active side on the first and second home markets. Some of them reckon that the strong market development will follow in the next 2-3 years, especially in the urban residential segment. Supply in Sofia has grown by 40% compared to last year. While in 2003 we had only 2 000 apartments on the market and 5 000 in 2007, this year we expect this number to grow to 8000 units, said Rosen Plevneliev, General Manager of Lindner Immobilien Management. The General Manager of Winslow Developments, Ivan Mekushin, agrees that the country has still a way to go before the residential market peaks. Besides problematic infrastructure, land price is also and issue that comes to the fore. All this makes projects more expensive some business plans inefficient. According to Liron Or, of Engel East Europe, a residential development company in Eastern Europe, the problem with high land values root into the fact that prices are formed on the basis of buildable square surface. Vendors boost prices to their maximum levels, which do not quite correspond to whether the market needs that much space. Restricted lending will probably reduce the number of projects of poor quality and riskier developments as there will be a wide scope of projects to select from. The combination of more proper investors and more cautious financial institutions will bring prices back to normal levels, Mr. Plevniev said. Although foreign investors are active in the domestic residential market, they mostly influence the holiday homes one. After Some very successful years of investing in Bulgaria, UK buyers seem to show less interest since the beginning of 2007. A slow - down and oversupply are also observed. Russian buyers, however, are a flicker of hope for the recovery of the segment. The Executive Director of Bulgarian Land Development, Dimitar Savov, said Romanians and some Central European buyers also started to take interest in the holiday home market. Bulgarian investors, however, are still very few. ShareThis

Secrecy benefit neither banks, not customers The loans interest rates of Bulgaria s biggest banks are moving up unchecked. The new hikes of 0.25 to 0.7 % will hit loyal payers and some new customer loans. The new increase will add 3.0 to 12 BGN more to the monthly installments, but the payers will not be informed of that. The silence of the banks lebels customers disloyal for just 2.0 unpaid BGN. The new secrecy will not benefit neither the banks, not customers. source: Standart Daily ShareThis

Finally - the Student Lending Law The Parliament passed the student lending law, which allows students to draw loans covering university fees. The loans will be guaranteed by the state and will be given by commercial banks at a preferential interest rate equaling the base rate. They will come with a grace repayment period from signing the contract to a year after the last state exam and a thesis defence. The loan is to be repaid in ten years. Borrowers will not be charged for advance repayment. Source: PARI Newspaper. ShareThis

The expected higher interest rates prompt Bulgarians to put their spare money into deposits despite the mounting inflation. Deposits that can be drawn after the third month increased to 34.1 pct from 31.3 in the previous month, under data of the central bank. A survey of local think-tank Industry Watch showed that Bulgarian households are still conservative keeping the bulk of their money in bank deposits and only a quarter of it in cash. Saving hit 31.3 bin levs in first-quarter 2008, up to 28.5 pct year-on-year. The global financial crisis ate away at the savings moved from deposits to mutual funds last year. The slump on the stock exchange put a large portion of the savings back to deposits. The central bank estimated deposits gained 9.9 pct year-on-year in March 2008 as the terms improved under the burden of the financial turmoil. The list of juicy deposit offers includes products of Raiffeisen Bank, DSK Bank, First Investment Bank, UniCredit Bulbank and United Bulgarian Bank. ShareThis

Bulgaria Property Projects speed up, as prices remain stable Retail center projects are among the most attractive for developers. Real estate experts forecast that the development of shopping malls will progress at least until 2010. To attract the attention of clients, future projects bet on providing more services and leisure and entertainment opportunities. Over 10 new shopping and entertainment buildings are expected to be completed by 2009. Four of them are expected to appear in Sofia, 2-3 in Varna and 3 in Plovdiv.  The shopping center development boom has not led to changes in rental levels since the beginning of the year. Rents in malls vary between EUR 20 and EUR 60 per sq m per month in cities like Sofia and Varna. This depends on the specific location and unit size.  Downtown rents also remain the same. They usually range between EUR 70 and EUR 160 per sqm per month although asking levels of up to EUR 200 per sq m have been registered on Sofia s Vitosha Blvd. Location  The most expensive retail locations in Plovdiv reach EUR 153 per sq m per month for a high street unit. The high market end stands at EUR 150 per sq m for retail space in the city of Varna. The lower end in Sofia s city center has been estimated at between EUR 5 and EUR 12 per sq m per month.  A 25-sq m shop at Rakovski St. is commanding EUR 88 per sq m monthly rent.   Sale prices start from EUR 560 per sq m and could exceed 47,000 euro per sq m. The great disparity is due to the particular location, state of the unit and its square surface. On the very central Vitosha Blvd. in Sofia, an 85-sq m shop is up for sale for EUR 47,058 per sq m.  Asking prices on ohter major boulevards in Sofia are far below this level. The most expensive one on Vasil Levski Blvd. costs EUR 10,000 per sq m for 12 sq m. In the center of Plovdiv, shops are usually sold for between EUR 900 and EUR 10,000 per sq m, as in Varna the price range is between EUR 1,500 and EUR 10,500 per sq m and between EUR 800 and EUR 7,000 per sq m in the city of Burgas. ShareThis

Bulgaria Property poor project will suffer The lack of quality space forced some foreign companies to delay their plans to enter Bulgaria Office market in Bulgaria is still far from being mature although the number of quality projects is growing. Nevertheless, progress is evident. A couple of years ago there were no quality projects and even now some of them have simply vague resemblances to class A offices. Still, these are marketable as demand significantly exceeds supply. Foreign companies have even postponed their plans to enter Bulgaria as they have actually has not found place to establish an office. The term class A office is still pretty much unclear. However, almost every single offer on the market lacks certain features that would qualify it as class A - whether it comes to suspended ceilings, raised floors, lighted areas or the needed car parking spaces. Although there is more to expect from Bulgarian developers, quality is improving , Elitsa Panayotova, CEO of Alfa Developments, a Bulgarian real estate development and investment company, said. The first foreign investor to come to Bulgaria found there was actually nothing to invest in. They had to either start developing their own projects or to try to share the risks with Bulgarian development companies, the Executive Director of Forton International real estate consultants, Sergey Koynov, commented. This scene has recently started to change. A booming economy has driven the absorption of 200,000 sq m of office space in 2007. The forecasts for 2008 are similar. As of the end of 2008 and the beginning of 2009, the first new projects are expected to be delivered and to change the ratio between demand and supply. Financial concerns, prompted by the credit crunch, will also have an impact. More opportunistic and speculative players will gradually start to fall off the scene. A year ago most investors tended to be aggressive and use up to 75 per cent leverage ratios. But nowadays all of them seem to be more cautious. We are now witnessing a reverse effect with 80 per cent of investments coming from equity and just about 20 per cent from credits. However, there are still problems remaining regarding the office market development in Sofia and solutions are unlikely to be found soon. Problems with infrastructure equally apply to existing buildings and future projects. High prices of land, seen by all Bulgarian developers, are just another setback for the sector s development. This, however, is expected to change once land owners unrealistic expectations are cooled down. ShareThis

Bulgaria Property Construction Level of construction in Bulgaria remain, even increase the supply of newly build properties. This is so even in tourist regions, where the demand is low. The years of 2005 and 2006 were the strongest for the Bulgaria real estate business and construction. In 2007 we have vast increased of prices and supply of Bulgarian properties. Approved Bulgaria Property Projects For Q1 2007, the approved building projects were with 20% less than Q1 2006. That was a sing of decreasing construction in Bulgaria. However in the end of 2007 the approved building project were more than the same period of 2006. According to National Statistic Institute for Q4 2007, the approved building projects were for 19,393 units with total living area of 2.4 mil square meters. Compared to the same period of 2006 that is with 0.2 mil square meters more. Stara Zagora The highest rate of construction for 2007 compared with 2006 is in the area of Stara Zagora, where the approved building projects have been tripled ( 2006 - 41,930 square meters, 2007 - 113,964 square meters). Burgas Bulgaria Property The most active construction area for properties in Bulgaria is Burgas region, where for Q4 2007 a 6,407 buildings with living area of 582,299 square meters have been approved. Varna Bulgaria Property For the first time the construction of North Black sea coast region overrun the South Black sea region. The main reason for that is the over development, enormous supply and high prices of development land in Sunny Beach area. For 2007 the approved building permissions in Varna are 1,2 mil square meters and for Dobrich are 900,000 square meters, or total of 2,14 mil square meters. For Burgas area the approved building permissions are for 1,74 mil square meters. Bansko Bulgaria Property The major negative effect of over development in Bansko and Razlog, lead to 50% less approved building projects for Q3 2007. Bansko holiday place are hardly trying to develop the infrastructure in order to offer better tourist conditions, which is one of the main reasons for decreasing of approved building projects. ShareThis

Bulgarian Property Resources List - Part 1 Bulgarian Top 9 Most Useful Government Institution Links 1. Ministerial Council - the Bulgarian government http://government.bg 2. Bulgarian National Bank - the central bank of Bulgaria regulating bank activities of all commercial financial institutions. Follow local exchange rates and more. http://www.bnb.bg 3. National Statistical Institute - NSI - the government institution collecting data on the population, economy, etc of Bulgaria. Use the data on Bulgarian property with caution as it may be quite incomplete. http://www.nsi.bg 4. Registry Agency - the Bulgarian equivalent to the Land Registry - the government body where all Bulgarian Property deals are registered. http://www.registryagency.bg 5. Ministry of the Interior - http://www.mvr.bg 6. National Assembly - the Parliament of Bulgaria http://www.parliament.bg 7. National Income Agency - NAP - the agency collecting all taxes due by individuals and companies in Bulgaria. This is where you pay your tax on Bulgarian property. http://www.nap.bg 8. National Association of Municipalities in Bulgaria - the non-for-profit organization of all municipalities in Bulgaria. Find useful information on the municipality where your Bulgaria property is located. http://www.namrb.org 9. Ministry of Health of Bulgaria http://www.mh.government.bg ShareThis

A few notes about the Statistical Data used for compiling the Bulgaria Property Index The Bulgaria Property Index is compiled using variety of sources both online and off-line. While it is presumed that an accurate data should be available at the National Statistical Institute of Bulgaria ( http://www.nsi.bg), the data provided there is far from being complete and reflecting the real market situation. The lack of accuracy is reflected in the following: - Data about the property market is being collected from government only resources. The files of the government organizations in Bulgaria are notorious for their inaccuracy and incompleteness. A good example could be that, for instance, prices of properties reflected in the title deeds are far from returning the real market value, as the law in Bulgaria allows for the so called “Tax Estimation Value” to be declared in the deeds of Bulgaria property. - Furthermore, in Bulgaria there are several other forms of ownership proves, other than title deeds. Those are so diverse, and the data for them is kept in different government institutions. Those institutions fail to submit statistics quite often, and there are even periods of years where such data is missing. - The methodology and definition of “property” used by the NSI is quite questionable, as for instance the so called “summer kitchens” are classed as separate properties, although they are almost 100% part of another property. For the purposes of presenting as accurate as possible data we use data also from the biggest on-line property portal in Bulgaria, as well as statistics from sources like the Balkan Consultancy Center, big banks like UniCredit Bulbank, Bulgarian National Bank, the European Bank for Reconstruction and Development – EBRD, the two largest Bulgarian property magazines – Imot and Index Imoti, specialized business publications by www.economedia.bg, part until recently of the Verlagsguppe Handelsblatt GmbH, Germany, as well as other Bulgarian media. As a result of the lack of a central source of information, the data we provide cannot be guaranteed to be 100% accurate also. However, we believe it is much more reliable than data provided by the NSI alone, as it is analyzed and cross- referenced to other sources that contain much fresher, real time market data. ShareThis

According to PineForest Resort - Bulgaria, the prices for studio apartments for the first quarter of 2008 have increased almost everywhere in Bulgaria. There has been a significant increase in cities like Ruse, Stara Zagora, Blagoevgrad and Vidin. However, in two regions of Bulgaria - Dobrich and Veliko Tarnovo the prices for studio apartments have actually decreased. click here to read the original post. ShareThis

One Bedroom Apartment in PineForest Resort - Bulgaria includes: LOUNGE: fitted kitchen with fridge, sink and cooker sofa and arm chair TV with table dinning table with 4 chairs coffee table BEDROOM: double bed TV with table chest of drawers 2 bedside cupboards wardrobe dressing table with mirror and chair BATHROOM: fully tiled sink toilet shower ShareThis