Real Estate & Funds News in Bulgaria from Propertyshowrooms.com

Bulgarian Fund Plans Renewable Energy Investments

Tue, 23 Sep 2008 00:00:00 GMT

Clever Synergies Investment Fund has new plans for wind, mini-hydro and biomass energy projects...

Lighthouse Golf Resort to open May 2009

Mon, 8 Sep 2008 00:00:00 GMT

Lighthouse Golf Resort, the 70 million euro complex being built near Balchik on Bulgarias northeastern Black Sea coast, will officially open in May 2009. Some 50 million euro of the funds earmarked for the project have already been invested, executive director Georgi Chouklev said at the ceremony inaugurating the golf course. Ian Woosnam, the Welsh golf pro who designed the course, is expected to attend the official...

Bulgarian farmland funds amass 71 000 ha

Wed, 20 Aug 2008 00:00:00 GMT

Bulgarian real estate investment funds REITs focused on arable land have accumulated 71 000 ha, according to the latest market data, which also showed that the biggest special purpose vehicles were boosting their market share. The biggest REITs were the most active buyers, while their smaller competitors were more cautious and purchase smaller plots. The three biggest REITs Elana Agricultural...

UniCredit to launch real estate fund report

Mon, 21 Jul 2008 00:00:00 GMT

UniCredit plans to set up a real estate fund, following the example of other major European banking groups, which would use parts of buildings that house the banks branches and other properties, Reuters news agency reported on July 20.The fund would be worth around two billion euro, Reuters said, quoting a report in Italian newspaper Il Sole 24 Ore. Contacted by Reuters, the group declined to comment...

Bulgaria 'offers strong fundamentals'

Thu, 12 Jun 2008 00:00:00 GMT

Bulgaria has a number of strong fundamentals which are supporting its housing market, according to industry analysts.

Amberlamb stated that factors such as its growing tourism industry are helping to make Bulgaria a good option for long-term investment.

The organisation said the eastern European country has become increasingly popular with leisure travellers because it is an affordable and easily accessible location.

Since it also offers natural beauty and a variety of attractions, it has also helped become an appealing destination for foreign property buyers.

Commenting on its investment potential, Amberlamb stated that visitor numbers went up by 11 per cent last year.

This means that demand for rental accommodation in the country will have gone up by a similar amount, thereby generating higher yields for buy-to-let investors.

Online travel agency Lastminute.com recently revealed that the number of June bookings holidays in Bulgaria is 151 per cent up on this time last year.

Foreign investment used to fund UK property

Thu, 29 May 2008 00:00:00 GMT

A couple from the UK hope an overseas property investment could help them afford a house in Britain, according to a newspaper.

The Metro highlighted the case of Paul and Samantha Emery, who have been priced out of the market in their home town of Watford.

Speaking to the newspaper, they said they believe a foreign property investment could be the solution to their problem.

The couple have purchased two properties in Bulgaria, as it is a much cheaper country with a rapidly-growing housing market.

This means that the couple could potentially make a profit if they sell up after the houses have gone up in value.

Ms Emery commented: "It has already increased in value, but we are holding onto it for five years so that we don't have to pay capital gains tax when we sell."

She added that they have been able to afford the mortgage payments by letting the properties out and collecting the rental yields.

According to the Association of International Property Professionals, Bulgaria was the fourth most popular foreign destination for UK buyers last year.

Bulgarian road network to be upgraded

Tue, 13 Nov 2007 00:00:00 GMT

EU funds are to be used to pay for a series of infrastructure improvements in a popular Bulgarian tourist spot.

According to the Sofia Echo, up to €280,000 are to be put towards upgrades to the road network in the Bansko municipality.

Although the region is highly popular as a skiing resort, Bansko mayor Alexander Kravarov believes that transport links in outlying areas could benefit from extra investment.

He was quoted as saying that the roads which connected villages in the area were "fourth-rate".

Money will also go towards restoring old buildings such as St Trinity Church in the old quarter.

Although Bansko is highly popular with holidaymakers and overseas property buyers, the infrastructure improvements will be likely to further enhance its appeal, resulting in more investment in the area.

Earlier this month, Steve Williams, British ambassador to Bulgaria, told the newspaper that the country's popularity among foreign investors was widely perceived to have been good for the economy.

More funding by World bank for Bulgaria

Wed, 28 Jun 2006 00:00:00 GMT

A new four-year lending strategy from the World Bank aims at further supporting Bulgaria’s growth and successful European Union membership for 2007. Up to 240 million euros a year will be leant to Bulgaria until 2009, further increasing investor confidence in Bulgaria as a desirable investment option. With World Bank assistance, Bulgaria has come a long way since its Communist days. Although progress has been unmistakeable, this further funding will allow Bulgaria to go that extra mile and reach its full potential as a member state of the EU. Various structural reforms are planned, including improvements to transport, energy and telecommunications systems, and resources will be provided to increase economic productivity and employment. In addition, the World Bank will support policies to reduce social and economic imbalances that still exist across the country – all good news for Bulgaria as an excellent emerging market success story.

2 new property funds on Bulgarian Market

Wed, 19 Apr 2006 00:00:00 GMT

The Bulgarian Central Depository stated it has recently registered shares of 2 new special purpose vehicles for property investment, These are Agricultural Land Fund Mel Invest and Sopharma Estates.

Bulgarian Property Investment Fund Floats £23m Shares in London

Thu, 30 Mar 2006 00:00:00 GMT

Bulgarian Land Development, a real estate investment fund, established by realtor Address Group, announced the start of floating shares on the Alternative Investment Market of the London Stock Exchange, or AIM. The fund said it raised £25m by placing £23m worth of shares on AIM at 100 pence apiece. On the very first day of the placement the achieved yields reached 10%. The fund plans to invest the entire capital in residential property and holiday sites in Bulgaria's Black sea and winter resorts. Based on the Isle of Man, the fund was established for about eight months with the aim to attract huge foreign investors to the Bulgarian real estate market. Among the investors in the fund are CLS Holding, one of the biggest real estate companies in Europe, he fund management company Jupiter, New Star.

Multinational Investment Fund Targets Bulgarian Properties

Mon, 16 Jan 2006 00:00:00 GMT

Heitman LLC, a multi-national real estate investment management firm, has announced that it has closed its Heitman European Property Partners III Fund, raising EUR 350 M of equity.
The Fund is targeting office, warehouse, residential and retail property investments in Poland, Hungary, the Czech Republic, Slovakia, Slovenia, the Baltic States, Romania and Bulgaria.
"It's a very hot market today because of the availability of consumers finance and mortgages," Heitman managing director Gordon Black has said, as quoted by Commercial Property News.
"It's opened the market quite a bit, moving from ex-Soviet housing facilities to newer modern condos; so it's quite a sweet spot."
Article Source: Novinite