There’s been a 27,9% drop in the number of Bulgarian tourists abroad for March 2010 year-on-year, shows data by Bulgaria’s National Statistical Institute. About 283 8000 Bulgarians have traveled abroad in March. There’s been an increase only in the number of Bulgarian tourist visits to Portugal (128,4%) and Denmark (8,6%) when compared to those of last year for the same period. The greatest drop in  [ Read More ]

Bulgaria may not participate in this year’s world Expo 2010 in Shanghai, China because the state is unable to cover the expenses. Bulgaria’s Ministry of the Economy, Energy and Tourism has already allocated BGN 1,3 M to the Plovdiv International Fair Association which is in charge of organizing Bulgaria’s representation at Expo 2010. However, these funds fall short of the money that the Ministry has promised to secure – over  [ Read More ]

The coffee chain Starbucks opened its fourth location in Bulgaria Tuesday, inside the recently inaugurated shopping center in Sofia – The Mall. Starbucks came to Bulgaria two years ago. The other three coffee shops are located in the capital and the Black Sea city of Burgas – 2 separate facilities in downtown Sofia and one at Burgas Plaza Mall. Starbucks entered Bulgaria’s market through the Greek Marinopoulos Coffee Company, which  [ Read More ]

Housing prices in Bulgaria during the first quarter of 2009 are down nearly 18% compared to the same period in 2009. The data was published by the National Statistics Institute (NSI) Friday. Compared to the last quarter of 2009, prices are down over 2% while price reductions have been registered in 19 regional centers whit the most significant slump listed in Razgrad – 9.5%, Yambol and Burgas – 8.4%. In  [ Read More ]

Research from Colliers International, or what is described as the “Top 15 survey”, shows that office rental levels in Sofia will be “stabilized” in 2010, a company media statement announced on April 27 2010. The survey shows data collected by the end of March, while the Top 15 pertains to existing, large multi-tenant office projects in Sofia, encompassing a total of 300 000 sq m of office space, or what  [ Read More ]

THE MALL, the largest shopping center in Bulgaria, officially opened doors on April 21st, announced Colliers International, the exclusive leasing agent and property management company of the project. The opening was attended by Bulgaria’s Prime Minister Boyko Borissov and Sofia Mayor Yordanka Fandakova, who cut the ribbon of the biggest shopping center in Bulgaria (GLA 66,000 sqm). THE MALL is strategically situated on one of the key traffic arteries in  [ Read More ]

Small studio flats, predominantly newly completed and priced up to up to 25 000 euro, are reportedly staging a strong comeback on the market, accounting for 34 per cent of total sales, Address real estate consultancy firm said on April 23 2010. In the first quarter of 2010, nine per cent of all transactions were conducted with 90 per cent external financing, the agency said. “The supply of such types  [ Read More ]

The Spanish property market grew by 16% in February compared to the same month last year, according to the latest figures to be published by the country’s National Institute of Statistics. Not including social housing, there were 35,720 home sales in February, 21,368 of them newly built and 19,665 resales. According to analysts the market has touched bottom and is starting to recover after two years of decline but the  [ Read More ]

Spain’s property market is “dropping fast”: ‘ Property fairs tout discounts of as much as 60% on new-built homes, or even “buy one, get one free” offers. “All the statistics show a fall,” concedes the housing minister, Beatriz Corredor. Yet pinning down just how big a fall is tricky. Tax-shy Spaniards do not always declare the true selling prices. the government’s main index, based on valuers’ estimates, shows a 1.3%  [ Read More ]

Property sales in Spain have shot up by 20% according to the latest report from Spain’s ultra conservative National Institute of Statistics (INE). They have revealed the first double digit growth in Spanish property sales for three years. Sales increased by 20% in February after a marginal 2% in January, a great boost for Spain’s main engine of economic growth. As 60% of the sales were in second hand properties,  [ Read More ]