As reported last week, the tourism industry in Bulgaria has been hit as hard any sector in the financial turmoil, with more and more winter resort hotels coming to the market. Now there comes to light news that the country’s bailiff court, having seized nine hotels (property in Dobrich mainly), are about to place the properties up for auction. The economic downturn has simply left the owners with no option  [ Read More ]

Now, in the beginning of March, everything is showing that the winter is almost over.We have less reservations for March for our properties in Bansko and Pamporovo area, compered to February. Last week only half of those properties were booked. But the good thing is that we are receiving more and more inquiries for property in the Black Sea area, and almost half of them are already secured bookings. Last  [ Read More ]

Overnight stays in Spanish hotels rose 0.3 percent in January from a year earlier for the first annual increase since April 2009, the National Statistics Institute said on Monday, a further sign that tourism, a pillar of Spain’s economy, could be turning around. The data followed a report on Feb. 22 which showed tourist arrivals rose in January for the first time in 18 months in a sign Spain’s battered  [ Read More ]

Evidence of the property market in Spain beginning to stabilize can be seen by slight house price increases in the south-eastern city of Murcia, it has been claimed. House prices in the region have risen by 0.24 per cent during January, making it one of a select few areas to note housing market augmentation. Other areas to record growth include Valencia with 0.11 per cent, Cantabria at 0.09 per cent  [ Read More ]

The number of Brits purchasing real estate property abroad is going down drastically according to a joint study conducted by the global real estate service provider Savills and HomeAway.co.uk. The report shows that about 43 000 properties around the globe belong to UK citizens, the Bulgarian information agency Bulgarian Telegraph Agency informs Saturday. In 2009, however, the number of Brits purchasing abroad is down 80% over the financial and economic  [ Read More ]

Spain’s recession-plagued economy contracted for a sixth consecutive quarter in the last three months of 2009, although the rate of decline is easing, the Bank of Spain said Friday. The 0.1 percent drop in gross domestic product is a blow to government predictions that the country would climb out of technical recession at the end of 2009, as other major European economies have. Late Friday the government announced its latest  [ Read More ]

Southern Spain is too good to be true; it has a large desirable coastline, a fantastic natural environment, one of the healthiest climates in the world and is culturally rich. Its geographic location gives it easy reach from Northern Europe. As a result there is simply nothing to beat a gorgeous Spanish Villa for holiday rental. A villa rental that has a pool and an air air conditioning san diego  [ Read More ]

Office space in Bulgaria is struggling as much as the residential market, with a tough year ahead, according to a recent report by Cushman & Wakefield. For grade A, B and C office space, rental values were at their last peak in Q2 of 2008, with a steady decline since. Against this, the vacancy rates have shot through the roof as the global economic crisis has deepened. Office rental in  [ Read More ]

The number of foreign tourists arriving in Spain inched up in January from a year earlier, the industry ministry said on Monday, ending 18 consecutive months of decline for the key tourism sector. The country received around 2.54 million foreign tourists last month, a 1.1 per cent increase over the same period in 2009 with Britain remaining Spain’s main source of visitors, accounting for one-fifth of all arrivals that month.  [ Read More ]

The International Monetary Fund said Thursday that Spain’s fiscal challenges are not as severe as those faced by Greece, reinforcing the message that Madrid has been delivering to the world’s financial markets. In its first official comment on the matter, the IMF told investors that Spain should not be placed in the same boat as debt-laden Greece. “Regarding Spain, we do see differences between their circumstances and those of other  [ Read More ]