Super Borovets Property REIT has purchased three land plots worth 1.221 mln leva in the town of Samokov, BSE reported.

The terrains have an area of 7,154 sqm, 6,823 sqm, and 6,307 sqm, respectively. The deals were made back in April.

On July 9, Super Borovets Property REIT won an auction organized by the Municipality of Pleven for the sale of a 40,55 sqm plot, together with the buildings on it.

In April the company sold one of its properties in Samokov. The property (56,100 sqm) and the buildings on it were sold for 5.049 mln euros. It had been purchased in the middle of 2006 at a price tag of 550,000 leva.

There have been five transactions with the stock on the BSE this year. Two were made on 26 September, when 26,315 shares changed hands at 15.20 leva.
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Homes in Varna were the most expensive in the year's first half, shows statistics released by real estate agency Address. The average price of residential properties in Bulgaria's most famous city on the Black Sea Coast stood at 806 euros per square meter. The data was presented during the Balkan Properties Exhibition, which is currently taking place in Sofia.

Prices in Varna rose by 9.86% in H1, compared to H1 last year.

Address real estate agency is also reporting a rising interest in properties near big coastal cities and resorts, which spurred offering. Another factor has been the increasing demand from foreign investors, which find a lot of potential in properties in the area and expect prices to continue rising.

A characteristic of the real estate market in Varna is the growing supply of new homes. The average price of such stands at 782 euros per square meter.

It is interesting that in H1 the prices of existing homes in Varna were 8% higher than those of new homes. Buyers spend an average of 848 leva per square meter for apartments in panel buildings.

The hike in home prices in Varna was extrapolated to rents. The average rent rose 14% over the period (the highest increase in the country) and came to 4.43 euros/sqm.

Experts think that the demand for properties in Varna, on the part of both Bulgarian and foreign investors, will stay high. One of the leading real estate agencies projected a price hike of between 10 and 15% (diversified on different segments). Experts also think that in the future investors will be focusing their attention primarily on high quality properties.

The first zone of residential Tsarigradski Complex has already obtained all necessary papers and about 1,000 people are now able to move into its 312 apartments, the project developer announced.

The total value of the investment poured in the project will exceed 100 mln leva (51.129 mln euros). Zone 2 and 3 are expected to be completed by summer 2009.

The complex occupies an area of 160,000 sqm. Sofia Building Company said that so far it invested 2 mln leva in underground infrastructure and 200,000 leva in landscaping.

The municipality is planning to build a subway station near the complex, in just a 5 min walk from the buildings.

The company Sofia Building Proprietor has been established with the sole purpose of providing maintenance and security to the complex, for which each household will be charged 30 .leva/month.

In April 2007 Mr. Stoyan Stalev, CEO Bulgarian Investment Agency presented a First Class Investor Certificate to Sofia Building Enterprise AD on behalf of his institution.

Sofia Building Enterprise received the prestigious prize after it had invested at least 71 mln leva in its next project - Tsarigradski Mall. The shopping center will be situated on an area of approximately 20,000 sqm in close proximity with Tsarigradski Complex, which is the biggest residential complex of a closed type in Sofia.
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The number of tourists having visited the Kaliakra Cape is expected to reach 300,000 by the end of the tourist season, Kavarna Mayor Tsonko Tsonev said before journalists on Tuesday.

Kaliakra Cape protrudes two km into the sea and is located 12 km east of Kavarna and 60 km northeast of Varna. The Cape is a natural and archaeological reserve. It has been established that in the 4th century B.C. was inhabited by the Tirizi Thracian tribe.

According to written evidence, a powerful city existed there in the Middle Ages. Its owners minted its coins and turned the city into a religious centre.

Last year Kaliakra was visited by 250,000 Bulgarian and foreign tourists. Revenues from entry fees alone are expected at 250,000 leva this year, Tsonev also said.

The successful tourist season curtailed unemployment down to 7 per cent in July. The number of jobless in August is expected to reach the unprecedented low level of six percent, the Kavarna Mayor stated.
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There is a total of 201,000 sq.m. of shopping mall GLA (Gross Leasable Area) under construction in Bulgaria, according to new Colliers International Bulgaria research. That is an increase of 138,500 sq.m. in the first six months of the year.

This can be attributed, say Colliers in their new Bulgaria Retail Market Overview for the second half of 2007, to the initiation of several big new shopping developments.

Three major new shopping centers broke ground this year. The construction of Carrefour Mall was initiated in January in Sofia followed by Serdika Center also in the capital and Mall Stara Zagora.

Colliers International also reports that the city of Varna on the Black Sea coast is shaping up as a very competitive market for shopping center developers and investors with five projects located within a 1-km radius.

Two of them, Pfohe Mall and Mall Varna, are already in an advanced construction phase with scheduled delivery in 2008. Construction of Mall Plovdiv in Bulgarias second most populous city is also progressing as planned with expected completion next year as well.

Atanas Garov, Managing Director of Colliers Bulgaria, said, "Our research shows that retail in Bulgaria continues its rapid expansion. Prospects are very promising, as the Bulgarian retail market is still vastly undersupplied, while tenants are bullish on their expansion plans".

Ivan Velkov, General Manager of Colliers Bulgaria, added, "Varna is attracting a lot of attention from developers in all segments". Colliers established an office in the city two years ago to support the real estate business on the Black Sea Coast.

Philip Bay, Regional Director, Colliers International Southeast Europe, concluded, "I am proud of the high level of the market research we produce. It is a valuable tool for clients, media and other real estate professionals, and just another reason why Colliers International Southeast is the leading property consultants in the region".profit.bg