Attractions Bulgaria

Archive for the ‘Investment’ Category

Kraft Foods has poured 40 million leva into the Svoge chocolate factory, north of Sofia, making Bulgaria a “regional production centre”, a company press statement from the Bulgarian branch has said, quoted by Dnevnik daily on September 15 2009.

Photo: John Gress

Kraft Foods was initially undecided whether to make the investment in Bulgaria or Romania, but in the end the management agreed that Bulgaria provides superior conditions because the Romanian Brasov factory is in the town centre and therefore gridlocked, making it virtually impossible to expand.

The Svoge factory has received the financial package earmarked for the purchasing and installation of new technological production lines, of which two are already in operation, while the third installation will be activated by the end of December.

Furthermore, in 2008, Kraft Food invested 1.6 million leva for new technology in the company’s Kostinbrod factory.

The investment has been achieved, according to the statement, exclusively through the company’s own capital. Kraft Foods Bulgaria envisages increase of exports for Greece, Romania, Macedonia, Serbia, Turkey, Ukraine, and Hungary. With new production lines, the factory will reach a capacity of 100 000 chocolate units a day.

Meanwhile, Kraft Foods Bulgaria have announced a drop in sales for the first half of 2009, as opposed to corresponding figures for 2008. The company envisages that the current trend, in light of the economic crisis, is unlikely to improve by the end of December 2009.

Article derived from Sofia Echo

Once you have chosen your ideal holiday home in Bulgaria, its time to get it furnished.

We offer class one quality Bulgarian furniture, can be compared to the U.K. Ikea style, click on our PDF, Either below or on our main property site www.attractionlifestylesworldwide.com

Attraction Lifestyles Furniture Package

Get it furnished and then advertise it for free on our site.

Please note our change of Phone number and web address

is now

01793-330083

and the new site is www.attractionlifestylesworldwide.com

VantageHeights%20Brochure%20Unbranded

This beautiful Black sea coast developement is a must see.

Attraction Lifestyles

Gary Woollard

Tel: 01793-330083

SKYPE ADDRESS: attractlife

garykw@attractionlifestylesworldwide.com

garyattractionlifestyles@yahoo.co.uk

www.attractionlifestylesworldwide.com

www.attractionsbulgaria.com

If you are visiting the Bulgarian capital Sofia a great alternative to a hotel is the many private serviced apartments available for rent in the city. There are literally hundreds of such apartments available in Sofia, and they can be an interesting and cost effective alternative.

The rise of property prices over recent years in the city have coincided with increased tourism, and Bulgarians who bought apartments when prices were low as investments have taken to renting out their properties.
Initially often rented out to travelling business people and others working in the city, increasingly these apartments are rented out to tourists and travellers.

Standards and prices vary greatly, but on the whole apartments offer excellent value for money if you want self-catering accommodation. Many apartments are right in the centre of the city so you don’t have to travel far to see the wide range of shops and attractions Sofia has to offer.

There are many sites on the Internet where you can select apartments a good example of which is Hostelbookers. And, as you will see many are decorated and equipped to a very high standard, such as the one shown in the photograph here.

It’s worth checking that the apartments have satellite TV in English – if that’s your thing of course. Also ask about air conditioning in the summer months, and if there is a heater in the colder months as the central heating is state run and you won’t have control in some cases as to when it comes on and goes off.

Something to remember is not to panic when you see the building as in many older building the hallways and entrances are poorly maintained. If you’ve selected well once you open the door to your apartment you’ll find an attractive and welcoming place to stay.

Hostelbookers offer a wide range of apartments, hosts and hotels throughout Bulgaria, and worldwide.

Visit the ALW Site and advertise for free

Good news for Bulgaria, is the rapid rise in the number of new shopping centres in Bulgaria. This is happening despite the global downturn in business… and once again points towards Bulgaria as a strong contender for overseas investment.

Bulgaria is still almost at the bottom of the charts for shopping centres – but this is not surprising, considering the average Bulgarian has less shopping power than the average Western European. However, with all the changes in Europe, and with Bulgaria soon to join the euro… growth is assured… and backers are seeing Bulgaria as potential shopping heaven.

However, should construction levels in Bulgaria maintain the same level, by the end of 2011, Bulgaria will have progressed from the current 25 sq m per 1000 people to levels currently enjoyed by Belgium, Malta and Croatia, who have anything from 100 to 75 sq m per 1000 people, provided of course that the aforementioned countries do not construct additional shopping malls.

Furthermore, a recent Cushman & Wakefield report indicated that construction levels in Bulgaria are actually considerably slower than they would have been had it not been for the global economic downturn. This saw the number of proposed projects slashed by 20 per cent.

More than 500 000 sq m of new retail area are expected to be completed in Bulgaria, which is more than the proposed construction in the United Kingdom, Spain, Germany and the Ukraine.

In western Europe the crisis, lack of financing and crediting, the deteriorating global recession and many other interrelated factors have contributed to the sharp decline of total volume of proposed construction for 2011, which in comparison to corresponding figures during the peak of the sector in 2007 has marked a 45 per cent decline. According to the Cushman & Wakefield report, however, the industry expects a rise in business in the following two to three years.

In a report by the international consultant firm, Jones Lang LaSalle, it is revealed that the total volume of investments in shopping malls in Europe has risen by as much as 85 per cent in Q2 of 2009, reaching two billion euro.

Derived from an article in Sofia Echo.

French retail chain Carrefour will open a store in Mall Pleven, developer Aladin Investment said on May 27, as quoted by Dnevnik daily. The hypermarket chain would rent 2 400 sq m on the shopping centre’s ground floor, Aladin Harfan, owner of Aladin Investment, was quoted as saying.

Mall Pleven, a 80 million leva development, is still under construction but is expected to be completed by the end of the year. “Construction is progressing according to schedule,” Harfan was quoted as saying.

The shopping centre is expected to open in early 2010 and has generated “heightened interest” from retailers, according to Colliers International, contracted to rent out the 100 stores that will spread over 17 500 sq m in the finished mall.

Currently, there are eight Carrefour projects under construction nationwide. The first hypermarket of the French group opened for business at the end of March 2009 in Bourgas, Bulgaria’s second largest Black Sea city.

The first Carrefour hypermarket in Sofia is expected to open in February 2010 on the Tsarigradsko Chaussee Boulevard.

Derived from an article in Sofia Echo.

During the second quarter of 2009, newly built apartment blocks across Bulgaria increased by 24.1% according to data from the National Statistics Institute.

Reports showed that the number of new apartments had soared by a whopping 30.2% on an annual basis, whilst the growth shown by completed accounts for new buildings grew by 6.9%.  In just May to July almost 700 properties were built, encompassing almost 7000 apartments. Just in that timescale we saw an increase of over 50% in new apartments across Bulgaria.

Varna was top of the pops with the most new buildings being completed, closely followed by Bourges, and then Sofia. However, the same report showed that no new construction took place in Razgrad, Montana or Haskovo during those months.

This is a healthy trend, and one that we wish to see continuing. Long may Bulgaria fly in the face of the economic downturn, and global decrease in demand on the property market.

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When considering buying a new property in Bulgaria, there are some very important things to consider. Here are just a few tips to help you on your way.

Choose your dream home
This may sound simple… but with so much choice available, you really must do your research. Come out to Bulgaria, and let us give you a tour of some of the best areas, and those which are ripe for investment. We know the country, the areas, and can help find you a perfect investment option.

Buying Land
According to current legislation, it is currently illegal for foreigners to own land in Bulgaria. However, if your dream property comes with land – there is a way for you to legitimately own said land. We can help you through this process easily, and fairly inexpensively

Engage the services of a lawyer
Once you have chosen your property, and agree a price verbally – you must get a lawyer involved. This will protect your investment, and ensure that you do not receive any nasty surprises after the event.

Signing the preliminary contract
Your lawyer should be helping you through this stage of the process, and will help you to check all paperwork. It is customary at this point to pay a deposit on your new property – usually 10%. Should you then withdraw from the sale, you would lose that deposit. However, should the vendor withdraw, then your money is returned to you.

Get that property OFF the market
At this point, the property is then deemed as in process… so do insist that it is taken off the market.

Searches and surveys
Again – use your lawyer for this step, as they can check all title deeds, claims, licenses and outstanding debts are addressed and cleared. Do not skip this vital step – as it may come back and bite you after the event
If you’re buying a resale property you should have a surveyor conduct a full survey on the property and the land to check for structural soundness, build quality and to ensure there is nothing wrong with the land or the property.

Signing on the dotted line
After all this… you get to sign your final contract. This usually takes place in the office of a notery, and both you and the vendor will meet there. You sign the final contract, and at this point the balance of the purchase price is due, as well as any taxes. If your property has been bought offplan – then the payment terms should have been covered in writing for you

Can I get the keys now?
Providing your new home is completed… you can move in, or start decorating it for your new tenants. If an offplan property, then keep an eye on those completion dates (hopefully your lawyer will have negotiated a late completion clause). You should be receiving the title deeds in your name.

Enjoy!

The Japanese government is to donate equipment worth 46.5 million Japanese yen (346 239 euro) to Bulgaria’s National Gallery of Art.

The donation would be used towards the acquisition of restoration and audio-visual equipment, Bulgarian news agency BTA quoted a media statement from the gallery as saying.

In the form of annual donations, Japan has given more than $7 million to various cultural, educational, sport and media government institutions in Bulgaria since 1991, BTA said.

Recipients of Japanese donations included Bulgarian National Television, the Bulgarian Judo Federation, the Boyana church, the National Library, the National Theatre, the National Music Academy, the National Gallery for Foreign Art, the National Institute for Monuments of Culture, the National Academy of Theatre and Film Arts, the Sofia Philharmonic Orchestra, the National Palace of Culture, the Sofia National Opera and Ballet, the museum of the Archaeological Institute at the Bulgarian Academy of Sciences, the Bulgarian National Radio symphony orchestra, and a museum for Thracian art in the Eastern Rhodopes, near the village of Alexandrov.

News story from Sofia Echo

A Date for your Diary folks, this is when Bulgaria will enter the European Monetary fund.

The Bulgarian Leva will cease to be and they will be trading in Euros.

Be ready for this, as property will increase in value ten fold, we will also be free of the current recession by then.

Folks you need to contact us to invest in a holiday home or buy property to sell and make money before 2012.

For more information

Attraction Lifestyles

Gary Woollard

Tel: 01793-330083

SKYPE ADDRESS: attractlife

garyattractionlifestyles@yahoo.co.uk

garykw@attractionlifestylesworldwide.com

www.attractionlifestylesworldwide.com

www.attractionsbulgaria.com

Bulgarian property is right in the sights of many at the moment – despite the current credit crunch. The consistent rise in property and real estate values, the dedicated addition of tourist infrastructure are turning Bulgaria into the new Costas. Having learned from the mistakes of their predecessors, Bulgarian tourism chiefs and the government are dedicated to ensuring that Bulgaria becomes a force to be reckoned with. Cheap flights are available from all over Europe, ensuring ease of access for thousands of eager visitors every year.

Right now many property opportunities are available all over Bulgaria, close to the major tourist hotspots. Unquestionably one of the best is “Vantage Heights”, a  stunning brand new development just north of Varna, which is a major airport serviced extremely well from mainland Europe and the UK. The development boasts Black Sea views stretching out for miles – also taking in the views of Cape Kaliakra over 60km away, as well as excellent facilities for holidaymakers wanting to escape from it all. Nestled into the Chortlen Hills, these apartments and villas are currently available from a fantastically low price of €47,500. These breathtaking properties are already being snapped up by hungry investors, who are well aware that prices will rise once Bulgaria joins to European Monetary Fund in 2012. Coupled with this and the rise in property values that is sure to occur over the coming years – you really cannot afford to miss out.

The development enhances its apartments and villas with a vast array of leisure facilities, including swimming pools, jacuzzis… tennis, basketball and squash courts… and a gym with all the associated activities you would expect from a facility of this caliber. With a 100 seat restaurant, expansive panoramic terrace, lobby bar and two pool bars there are also plenty of areas for your guests to kick back and enjoy fine food and drink. Pampering is not taken lightly at Vantage Heights, and to this end there is a hairdressers, luxury spa centre with an excellent selection of treatments available. Just a short distance away is a golf driving range, and three 18 hole courses, as well as opportunities for windsurfing, paragliding, jetskiing, and Jeep safaris. There is a regular minibus service to the beach too – absolutely everything has been thought of.

Vantage Heights has joined forces with one of Bulgaria’s largest and most well established tour operators, “Holiday Shop”, and have a rental agreement in place, guaranteeing you levels of occupancy for your property. The returns negotiated are above and beyond the norm, and of a level to tempt any potential investor. Construction has already begun on the development, and opportunities are available right now, as well as payment schemes and financing with a well respected German bank, Allianz.

For more information or to purchase your dream holiday property, contact:

Attraction Lifestyles