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Investors to build traditional Revival houses in Zlataritsa, Bulgaria

Character homes in Bulgaria

Character homes in Bulgaria

South African investors to build architectural reserve, consisting or traditional Bulgarian houses from the Revival Period, near Zlataritsa. Visitors would be able to see a variety of traditional homes characteristic of different Bulgarian regions – Arbanasi, Strandzha, Pirin, etc.

This interesting Bulgaria real estate is located by the river and is planned to have four or five houses in which tourists will have the opportunity to see and learn more about authentic Bulgarian traditions from different ethnographic regions of the country.

The complex will be on land of about 100 hectares. Investors have been buying plots and dealing with land consolidation for the past three years. The complex will also have a dairy and farm.

News, Property News

Bulgaria among the cheapest places for construction

Construction Site SilhouetteThe most expensive construction market is Hong Kong. The top 10 includes five European countries, reports Investor.bg.

 

Bulgaria is among the ten cheapest states for construction in the world, according to consultancy firm EC Harris. Bulgaria ranks 6th in cheapest construction destination and 42nd for construction costs.

 

The cheapest destination for building is India, followed by Indonesia, Vietnam, Morocco and Malaysia. A position behind Bulgaria is Bosnia and Herzegovina, and Romania is the tenth cheapest destination for construction in the world.

 

Hong Kong, on the other hand, has the most expensive construction market in the world. Among the top 10 most expensive construction destinations are also five European countries – Switzerland ranks second, Denmark third, Sweden fourth, France 8th and Belgium 10th.

 

Macau is rated by the company on the 5th place, Australia – 6th, Japan – 7th and Singapore – 9th.

 

Although the economies of developing countries are slowing,and the recovery in developed countries is lagging behind, experts predict growth in the construction industry worldwide. They also say that by 2025 the volume of construction output will grow by 70% to 15 trillion dollars.

 

Growth is also expected to be concentrated in the developing economies, which by 2025 will contribute with 63% to the global construction output. For comparison – in 2012 their share was 52%.

News, Property News

New city development plan envisages recreation areas along the Yantra

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The Mayors of Veliko Tarnovo and Alexandria, Daniel and Victor Panov Dragusin, have signed an agreement for joint application for cross-border project between Romania and Bulgaria. It is called “Building eco urban zones in the Lower Danube Euro-region – models for sustainable urban development” and would cover the time period 2014-2020.

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From early September the chief architects of the two towns will be consulting about the preparation of projects to create riverside recreation areas, said Daniel Panov.

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The Veliko Tarnovo project is based on an early development plan, designed by the local architect Matey Savov. Projects should be ready by 2014 and and be implemented in 2015.

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The Veliko Tarnovo project so far is planned to be 2.5 km long, running along the Yantra. It would from the tunnels next to the Tsarevets Castle. The project envisions cycling trails and walkways, decorated with greenery. The  Yantra coast will be reinforced with gabions and supporting walls. Two panoramic elevators will lead from the town to the street, shared Daniel Panov.

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News, Property News

20% surge in Bulgarian Real Estate Sales

Bulgarian Property Agencies report a 20% increase in sales compared to the summer of 2012, reports Novinite.com. According to the Bulgarian National Television (BNT), as cited by econ.bg, there has been an increased interest in the luxury properties. Also, properties purchased via mortgage loans have decreased.

 

In the summer of 2013, Bulgarians mostly opt for two-bedroom apartments in the capital. Currently, real estate prices vary between EUR 500 – 1000 per square meter.

 

Top areas for foreign buyers in the summer of 2013 are traditionally coastal, mountain and rural properties in Veliko Tarnovo area.

News, Property News

Iconic Hotel Tsar Boris to be restored in 4 years

a postcard of hotel Tsar Boris III

a postcard of hotel Tsar Boris III

In a previous blog post, I mentioned that this monumental building was purchase by Edmund Beck, the US millionaire that also restored the Hadji Nikoli Inn to former glory.

 

The businessman purchase the crumbling Veliko Tarnovo property on Opalchenska Street via his company, “Bulbeck” about two months ago.

 

The millionaire invested approximately $3 million to restore the Hadji Nikoli Inn. The restoration of the hotel is expected to cost more. It will be a 4-star hotel and owner is keeping its historic name.

 

Currently architect Nikolay Georgiev has undertaken safety and security measures of the former hotel, which is in poor condition. A team of architects will most likely be assigned to restore the building.

 

Several projects are to be considered, whose approval will likely take about a year, since the building is of cultural importance in Veliko Tarnovo.

Hotel Tsar Boris III now

Hotel Tsar Boris III now

News

Sokolski Monastery, Veliko Tarnovo Area

Sokolski Manastir

Sokolski Manstery

Sokolski Monastery is a beautiful Orthodox Monastery in the Veliko Tarnovo area, situated about 10 km southeast of Gabrovo and very close to the ethnographic complex Etara. It can be reached via regular public transport from Gabrovo or via a beautiful and easy 2-hour hiking trail from Etara.

 

Even though the Monastery is less than 200 years old, there are quite a few legends that go along with it. One of them is about the abyss next to the Monastery. The legend has it that during the Ottoman rule many young Bulgarian maidens met their death here – they chose to jump down and die rather than change their religious beliefs and convert to Islam.

 

Another legend hovers about the beautiful stone basin in the monastery yard. It has 8 falcon-shaped faucets and is believed to never dry out. They say that its water can cure many diseases and protect from evil spells. In the St Pantaleimon Chapel next to the Church you can see a rock in the cracks of which pilgrims leave notes with wishes. The water that runs from underneath this rock is believed to have healing powers as well.

 

Plan a longer time to spend at the Sokolski Monastery if possible since there is a lot to see inside and in the beautiful Stara Planina surroundings. There is a scenic picnic spot in front of the monastery and the walking trails around are incredible.

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Asenova Mahala / Asenov Quarter, Veliko Tarnovo

View at Asenov Quarter

View at Asenov Quarter

The Asenov Quarter of Veliko Tarnovo  is located at the foothills of the Tsarevets Hill and Trapezitsa Hills and on both sides of the Yantra. The location became populated as early as the first rulers of the Asenevtsi dynasty and it was first mentioned as a distinct neighbourhood in written sources dating back to the 18th century.

 

The neighbourhood cam about when the city grew and the two hills did not offer much space for the growing population. After Tsarevets and Trapezitsa Fortresses were built, there were two transverse walls descending to the river that used provide protection to this part of the medieval city.

 

Remains of such those wall were found during archaeological excavations of south of the main entrance of Tsaravets. In construction works in 1981, remains of a watch tower were unearthed near the Bishop’s Bridge.

 

Bishop's Bridge / Vladishki Most

Bishop’s Bridge / Vladishki Most

 

Today important cultural sites are preserved in the Asenov Quarter –  Churches of St. Demetrius, St. Forty Martyrs, St. George and St. St. Peter and Paul, which are subject to archaeological, historical and artistic research, conservation and restoration.