Bulgaria Property Upturn Predicted in 2010
www.property-abroad.com; News Posted On: 28 January 2010; excerpt
Analysts within the Bulgarian property market are suggesting that Bulgaria property could be strong going into 2010, depending on how the banks read and respond to the early signs of real estate rebound…
According to analysts selling Bulgarian properties in the UK, 2010, is to be a good year for Bulgarian property in terms of rising foreign demand as well…
The grand project Super Perelik
Perelik, Super Borovets and Bansko – Time will tell which one will be better considered, more attractive to tourists which will be the most profitable … We all know what offers Bansko – the type and number of trails of various difficulties, the large choice of hotels … We all want to see what will happen to the Super Borovets project – a ski area in Bulgaria, with many traditions in the winter ski tourism, hoping to become all-season tourist destination … And now to speak about the project Perelik and the area around the winter resort Pamporovo which is located in one of the most picturesque places in Bulgaria.
The grand project “Perelik“ which can be compared only with the “Super Borovets” project received a “green light” by the municipal council in Smolyan. The main purpose of the grant project, called “Super Perelik” is to connect Perelik peak in Pamporovo with the Mechi Chal peak near Chepelare. The realization of the project will transform the Rhodopi Mountain into leading tourism centre. The project itself envisages the construction of a modern winter resort which will extend area of 130 square kilometers, with a system of facilities for winter sports and summer tourism. The resort will include 50 ski slopes with an area of over 200 km, equipment for artificial snow, 24 lift services, hotel facilities with nearly 20 000 beds and covered parking with approximately 8 000 parking places. At a later stage will be built congress center and golf course. Because of the project “Super Perelik” the government was committed to construct an airport near Smolyan as well as a 100-kilometer-way road to Plovdiv.
The investment plan is financed by Bulgarian and international banks and the capital expenditure is expected to reach over 250 million EUR as the revenue and the profit may reach 300 million BGN per year.
All lovers of winter pleasures will have to wait to try out new trails and facilities, but those looking for properties with great potential should start thinking about the great opportunities offered by such a project.
Here are some of the hottest offers in the area:
Royal Lodge – The newest jewel in Pamporovo!
Five-star complex in the hear of the charming ski resort Pamporovo.
Prices start from 500 Euro/ sq.m
A new development situated in the center of Pamporovo ski resort.
The prices vary between 600 and 750 Euro/ sq.m
How the international press said that a killed criminal was a prominent journalist
I have read a lot of articles about the murdered Bobi Tsankov. First of all I’d like to say that shooting is unacceptable way to manage with criminals. This has to be done in court!!!
BUT…in case like this…I wonder how the international press have spread the information in a way which presents Bulgaria as a country where journalists are being killed for their free speach rather than a country where underground mafia kill one of its members. Bobi Tsankov WAS NOT a prominent journalist as BBC said nor he was a prominent radio journalist and author of a book on Bulgaria’s gangsters according to NY Times.
He used to work as a radio host where he started his frauds for hundreds of thousands levs. He had close connections with Sofia underground world. He survived few atempts of murder. Recently he decided to speak in the press and the police about the secrets of the mafia and even wrote a book. He published some articles in not so famous weekly newspaper trying to call himself a journalist. He even complained that he was threatened to be killed if he don’t stop these stories. The truth is that he was more popular with his criminal actions than his writings about the Mafia’s secrets.
I will say again that a daylight shooting is bad enough. I don’t care about the internal mafia wars but such a shocking act in the centre of Sofia is quite frightful to hear. I don’t care if he was going to reveal something important and that’s why his mouth was shut or he was murderd by someone that was lured by him and lost a lot of money. Everyone will agree that this should not happen in European country. And we all hope that the new govenrment will succeed to put the criminals in prison not in graves…
Why buy an existing business now?
It’s an unfortunate fact that many businesses are unprepared for a major crisis and got surprised by it. A recession is generally a difficult time for many companies and especially for those, who failed to recalculate correctly their expenses. This is the perfect time for wise buyers to make their choice and make the best of a deal.
- Save money! It may sound surprising, but buying an existing business does not mean that it will cost you more. In fact, many times it’s less expensive than launching a start-up and not to mention all the time that you save for developing the new business. Even in those cases where it may require a premium, at least you know what you are getting. Plus, with the right information you can negotiate incredible deal terms that you could not achieve with a new business. When you know what sort of business you can run, how much you can afford to pay for it and how profitable it should be, it is time to get looking.
- Save time! When you buy an existing business you will have the benefit of a built-in infrastructure. You will inherit active customers, suppliers, employees, equipment and systems. You will save yourself a lot of trouble as this will allow you to focus on developing the business further. You will have positive cash flow on your first day of operation and you can skip the many years it usually takes to get your business name known through expensive advertising and trial-and-error marketing.
- Reduce the risk of failure! With an existing business you will have access to actual historical information that will allow you to thoroughly investigate its past activities, the financials, the market, the customers, the industry, the employees, the competition, its operations, its current status, and its future potential.
Buying a business is something that anyone can achieve. Put yourself in a position to buy. Above all, educate yourself. You cannot guess your way to success! With the right information and advice, you’ll make all the right decisions.
For many, owning a business is a dream. For some, it will become reality. Your fate is in your hands.
The final decision is yours! Never feel intimidated by sellers or be afraid to ask questions. Your broker will help you and ensure you receive the right answers to all your queries. The majority of buyers’ in today’s market will raise finance on their homes.
Bulgarian Credit Rating Revised To Stable From Negative; ‘BBB/A-3′ Sovereign Ratings Affirmed
On the 1 st December 2009, Standard & Poor’s said:
– We are revising our outlook on the Republic of Bulgaria to stable from
negative, and affirming the ‘BBB/A-3′ sovereign credit ratings.
– The stable outlook reflects our view of the government’s commitment to
fiscal discipline, and our expectation that the government will implement
structural reforms in the social security system.
LONDON (Standard & Poor’s) Dec. 1, 2009–Standard & Poor’s Ratings Services
today said it had revised its outlook on the Republic of Bulgaria to stable
from negative. The ‘BBB’ long-term and ‘A-3′ short-term sovereign credit
ratings were affirmed.
The ratings on Bulgaria reflect our view of the government’s strong track
record of prudent fiscal policy and low gross debt; solid growth prospects
over the medium term; and the country’s EU membership. Offsetting these
strengths somewhat are large external imbalances and the related risks as a
result of the adverse economic environment, which we expect to continue in
2010.
In our view, Bulgaria continues to face economic risks due to the
uncertain outlook for external demand and the sharp tightening of the external
commercial credit channel, which negatively affects domestic demand. As a
result, the current account deficit, which peaked in 2008 at 25.4% of GDP amid
an overheating economy, has contracted sharply and is expected at around 10%
in 2009 (we expect the deficit to be fully funded by foreign direct investment
flows). We expect GDP to contract by around 6% in 2009 and a further 2% in
2010, followed by a positive growth rate in 2011…
This material was taken from www.standardandpoors.com
SPA tourism in Bulgaria
The following article aims to introduce and show you one of the advantages of Bulgaria, namely the wonderful Spa resorts which it has with. The Bulgarian Spa resorts are one of the best in Europe and if you’d like to get rid of the stress and have a relaxing holiday in the beautiful nature, you should definitely visit some of these amazing places. Some of the most popular Spa resorts in Bulgaria are Velingrad, Hissarya and Banya.
Velingrad- Velingrad is undoubtedly the most picturesque and most renowned of all of the Bulgarian spa resorts. It lies in the Rhodope Mountains in the beautiful Chepino Valley. Velingrad has a mild year round climate and a wealth of mineral waters, suitable for the treatment of respiratory diseases and rheumatism amongst others. There are also opportunities to ski in nearby Yundola. There are 70 mineral springs here, which vary in temperature. In addition to the spas, Velingrad boasts another impressive natural phenomenon, the Kleptuza, Bulgaria’s largest karst landscape, which is covered by eroded towers of limestone. The karst dispels 1,200 liters of ice-cold water per second.
Three months ago Velingrad was declared as the SPA capital of the Balkans. The prestigious award, which “shot off” the Rhodope town into the top ranking of the most attractive spa centers in Europe, was bestowed personally by the President of the International Hotel and Restaurant Association on 7th July. The international recognition of the picturesque mountain village is not just a coincidence. Before being officially named as „Тhe spa capital of the Balkans”, in 2005 Velingrad won his vocation to the spa capital of Bulgaria, thanks to the wonderful conditions for a healthy vacation in the folds of the Rhodopes. 
For a very short time Velingrad literally was transformed into a modern spa resort. But the town is not just about luxury hotels, pools with mineral water and different spa airs and graces. The mountain town is known for its unique folklore, with its delicious Rhodope cuisine offered anywhere in the local pubs, as well as the unspoiled nature of the Rhodopes.
Hissar- Hissar/ Hissarya is one of the largest spa resorts in the country, known for its clean and curative mineral waters and untouched nature. Green parks, historical sites, fresh air and relaxation in luxury spa hotel with modern equipment – this is an unforgettable holiday, which you cannot remain in mind forever.
Nestled in a tiny valley in the border of the Sredna Gora Mountain, this pretty town often referred to as just Hissar, is a popular destination not only for Bulgarians looking for peaceful surroundings and a healthy environment. This town is famed for its mineral spas of which there are over 20 and a strong history with pre-historic remains excavated in the town centre. Hissarya is prospering thanks to the growth in spa tourism. Its mineral springs are extremely pleasant with temperatures between 24 and 49 degrees C. They give out vast plumes of water at a rate of 40 liters per second. The environment around this area also helps; there is no industry whatsoever here and consequently no pollution. Treatment procedures are conducted in a number of diseases. In the new hotels are proposed procedures and spa for relaxation and pleasure – aromatherapy, thalasso therapy, phyto therapy, classical and eastern massages, music therapy and others. But one of the biggest attractions is the mineral water beach which is frequently attendant especially during the summer season.
Banya- The beautiful, picturesque town of Banya is nestled between Karlovo and Hissarya on the road to Plovdiv, in the central part of the Stryama Valley, surrounded in a semicircle by the Sashtinka Sredna Gora Mountain. The town’s mineral springs, rehabilitation and spa facilities are one of the best in central Bulgaria and are known as the Karlovo Mineral Baths. The facilities afford the health enthusiast a year round climate and opportunity to treat joint, neurological and gynecological disorders. There are numerous baths, swimming pools, sports and rehabilitation centers that offer inexpensive yet effective methods to improve your health and well being. The mineral water varies in temperature, depending on the facility you choose and offers something for everyone. The range of the water is from 35-54 degrees C and can be found in spas, pools and bath facilities throughout the town. There’s also a unique mud bath facility that offers treatment for various diseases. The resort’s rehabilitation clinic and sanatorium plus great outdoor beaches and mineral water guarantee a great time and a healthier you. In addition to the tremendous spas and outdoor pools, there’s a sports complex, several nice hotels and numerous historical sites and points of interest close by for day trips, including the largest Thracian tomb ever discovered in Southeastern Europe at Starosel.
The word SPA is an acronym of various Latin phrases such as “sanitas per aquas” meaning “health through water”, or “Solus per Aqua” meaning “water in itself “. Today SPA in Bulgaria means strength and beauty through the magic of the Bulgarian thermal water springs. So…. Relax! Meditation! Massage! Special Therapies! Rehabilitation! Mineral Springs! How much do you need all that – in the hurried daily round and rhythm! Healthy and full of energy…close to nature, close to your real self…feel the spa magic now and visit the richest spa land in Europe – natural and virgin Bulgaria!
Repair works on the road from Bourgas to Elhovo
We are glad to spread some good news about the road from Bourgas to Elhovo, which I am sure that will make happy everyone who has bought or is looking for a property in the area.
In the beginning of June 2009 repair works started on the road from Bourgas to Elhovo. The project is massive and includes total repairing of the full length of the road, which is now a part of the international road network, leading to the newest border check point between Bulgaria and Turkey – Lesovo. The road will be repaired according to modern standards and constructed with high quality, as it is financed by the EU. 65% of the project is financed by the European Investment Bank and the other 35% should be paid from the budget of the Republic of Bulgaria.
The full length of the road is 100km and it should be finished by the end of January 2011. However this summer, working hard, they managed to repair a big part of it. This project is a part of the massive project for road rehabilitation called Transit Roads. It includes the main roads, which connect Bulgaria with Turkey and Greece. These roads have become very important since our country has joined the European Union in 2007.
At present there are some speed limits in the parts which are being repaired and we advise you to be extra careful if you drive there alone. The parts, which have been already repaired, are nice, with new gutters along the road and new sidewalks in the villages.
Minimum initial capital of 1 euro for Ltd company in Bulgaria
Bulgarian Parliament approved the initial capital to be 2 BGN or approximately 1 EUR
The initial capital for the registration of a limited liability company (Ltd.) is reduced from 5000 to 2 levs. Now this is a fact by passing amendments to the Commercial Code on first reading. According to the Council of Ministers with the implementation of this measure the level of entrepreneurship in Bulgaria will increase, which means more jobs, new services and products.
The Chairman of the Parliamentary Economic Committee Martin Dimitrov commented that this is the first real reform act of the Parliament, and will help young people to do business. 
The measure was introduced in many European countries where the fee for registration of a company is just one euro.
The proposal for a symbolic capital for initial registration limited liability company was announced by the Government of GERB as one of the anti-crisis measures to stimulate business.
Bulgaria had had one of the highest levels of minimum capital in the world. The World Bank “How to do business” report defined previously that Bulgaria was the country with the 36-th highest capital of 181 countries. With a higher minimum capital are countries such as Mongolia, Lebanon, Mozambique, Congo, Benin, Syria.
Nearly 100 countries have zero minimum capital requirements. Among them are Australia, Canada, Ireland, Israel, New Zealand, Saudi Arabia, the United States, Great Britain, Japan, Singapore, Hong Kong, France and Malaysia.
Driving a car in Bulgaria – cost, taxes, insurances…
We have been questioned recently how much would cost a foreigner to have a car in Bulgaria.
To drive a car in Bulgaria you should have a valid driving license and at least 18 years of age. There are two options for those who don’t intend to rent a car – to buy one locally or to import your own car from your country.
If you decide to buy a car in Bulgaria and register it here you will pay:
1. To register the car on your name – approx. € 50
2. Eco tax – if the car is older than 5 years – from € 100. This is payable once – only when you buy the car.
3. Driver responsibility insurance: at least 50 € per year.
4. Annual theft and accident insurance – it depends on the car- can be € 100 per year for an old car or around € 800-1000 for a brand new car.
5. Road tax (depending on the engine power): around 60 € per year for a car of 2000 ccm engine.
6. Vignette – approx. € 34 per year. It is required for the national roads only; this means that if you are driving only locally you may not need it at all.
If you come here with your own car you may drive it in Bulgaria without registering it. In this case you can use your insurance made in your country in case of accident. You will have to pay for vignette ( to use the roads) – there are vignettes for one week, for one month or for one year. You can buy a vignette in every petrol station. You will be given a sticker which has to be placed on the wind screen.
- Fuel prices:
petrol: 0.97 €/L,
diesel: 0.96 €/L,
LPG: only 0.51 €/L.
Cost of living in Bulgaria – 2009
With the following article we would like to help everyone who is considering a property purchase in Bulgaria and would like to know what the standard of life here is. You hear from everywhere that it is cheap in Bulgaria and that investing your money in a property in this picturesque country is a wise decision, but it is hard to believe without being familiar with real digits.
Here you can see the prices of main products and services for 2009.
Food prices:
Bread – 1lv/ 800gr
Eggs – 0.22lv/ 1piece
Milk – 1.40lv/ 1l
Yoghurt – 0.60lv/ 500gr
White cheese – 4.70lv/ 1kg
Yellow cheese – 10.00lv/ 1kg
Sausages – 5.80lv/ 1kg
Vegetable oil – 2.20lv/ 1l
Vinegar – 0.60lv/ 1l
Salt – 0.30lv/ 1kg
Sugar – 1.80lv/ 1kg
Chicken – 4.70lv/ 1kg
Pork meat – 7.00lv/ kg
Fish – 6.00lv/ 1kg of scad
Olives – 4.00lv/ 1kg
Honey – 5.00lv/ 500gr
Chocolate – 1.20lv/ 500gr
Ice cream – 1.20lv/ 200gr
Baby Puree – 1.10lv/ 120gr
Fruits and Vegetables:
Tomatoes – 1.40lv/ 1kg
Cucumbers – 1.40lv/ 1kg
Beans – 3.00lv/ 1kg
Potatoes – 1.00lv/ 1kg
Bananas – 2.50lv/ 1kg
Oranges – 1.80lv/ 1kg
Drinks and Cigarettes Prices:
Mineral water – 1.50lv/ 1.5l
Coke – 2.40lv/ 2l
Juice – 2.00lv/ 1l
Coffee espresso- 1.10lv/ 200gr
Nescafe 3 in 1- 0.40lv/ 1cup
Spirit drinks – 6.00lv/ 1l
Wine – 4.50lv/ 0.700l
Cigarettes – 3.00lv/ 1pack – 20pieces
Prices of goods of daily demand:
Soap – 0.85lv/ 1piece
Shampoo – 2.50lv/ 200ml
Tooth paste – 0.70lv/ 1piece
Washing powder – 1.50/ 330gr
Communal taxes:
Electricity – 0.20lv/ 1kwh
Water – 1.10lv/ m3
Internet – 30lv/ month
Property government tax – 0.15% of the price of the property per year
Diesel – 1.75lv/ l
Petrol – 1.95lv/ l
Gas – 0.93lv/ l
A lunch for two – 20€ (starters, main courses, drinks, desserts, coffee)
Hairdresser services – 5-25€
Main electricity appliances:
TV – 37″ plasma TV – 350€
Fridge – 130€
Air-conditioner – cooling and heating – 300€