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American company maps the streets of Veliko Tarnovo

Veliko Tarnovo map

Veliko Tarnovo map

U.S. navigation company “Tele Atlas” are mapping the streets of Veliko Tarnovo. A special bus is touring the Old Bulgarian Capital, making digital images of streets, buildings, intersections, traffic signs, traffic lights and main elements of the town infrastructure.

The company aims at creating a dynamic digital map, which then will be uploaded to car sat-navs. This electronic guide targets foreigners and visitors of Veliko Tarnovo.

The company provides continuous positioning, which is controlled by three satellites. This way, no one will get lost and easily find the main attractions of the town, as well as any address in town.

Unlike traditional GPS system information, here you can see images of objects, thus making the orientation much easier.

News, Property News

Bulgarian real estate prices with a slight drop

Bulgarian real estate

Bulgarian real estate

Economic forecasts for 2013 by leading Bulgarian real estate experts  do not indicate major trend changes in the property market this year.

Bulgarian property prices are expected to record a moderate decline until mid-2013 and then to plateau for the rest of 2013.

The demand in town property will be dominated by the Bulgarian buyers and will depend on the economic recovery, unemployment rates, household income and access to bank lending in the country.

In terms of vacation properties and holiday homes, Bulgaria will remain attractive for foreign home buyers from the UK, Russia, Greece, Turkey and Romania.

And while minimal changes are expected in residential properties, more significant changes are expected in the field of office/retail space and commercial properties.

Crucial factor in each market segment will continue to be the adequate pricing for the size and the state of the property, according to leading real estate agencies.

News, Property News

Veliko Tarnovo Mayor champions review on logging activities in Bulgaria in 2013

Over the past few days the Mayor of Veliko Tarnovo, Daniel Panov, organised and has been engaged in working meetings with representatives of the North Central Bulgaria regional forest management companies occupied in logging, the police, mayors and deputy mayors of towns and villages discussing the various problems caused by logging.

Mayor veliko turnovo

Daniel Panov, Mayor of Veliko Tarnovo

During these forums held in 23 towns and villages in the municipality of Veliko Turnovo the mayor heard numerous complaints about the way in which the lumber companies de-forest and transport the cut timber.

bulgaria veliko tarnovo land property real estate mayor ecology logging

More governance is required to stop this type of deforestation within the woodlands around Veliko Tarnovo

In many places, the main issue was the lack of regulation and control within the industry as a whole! The forests and woods are being “cut to the bone” which sadly can lead to landslides and the movement of cut timber by heavy lorries is visibly destroying road infrastructure and causing major damage to private homes in Bulgaria and agricultural Bulgarian Real Estate.

bulgaria veliko tarnovo land property real estate mayor ecology logging

Huge swathes of woodland and forest has been “removed to the bone” is this about to stop in Veliko Tarnovo?

The Mayor’s personal observations were non compliance with restrictive tonnage signs of trucks down secondary roads with weak bridges, distortion of the roads and pavements, damage to drainage and sewerage systems. “Investing in repairs of streets and roads while trucks demolish the same infrastructure. Landslides on roads and roads disappearing through landslides, Subsidence of private land and cracks in the walls of houses, and bridges being damaged too. A better co-ordination between all institutions and companies to improve the activity of logging is required as a whole” the mayor said.

bulgaria veliko tarnovo land property real estate mayor ecology logging

The local road infrastructure around Veliko tarnovo is only designed for light traffic, not masses of heavy logging trucks

Daniel Panov said to the company representatives at the meeting that the goal was not to interfere with their business but only to regulate all the activities that have a bearing on all stakeholders which includes protecting local communities and the public interest by complying with regulations, instead of creating problems by destroying infrastructure and private Bulgarian properties.

bulgaria veliko tarnovo land property real estate mayor ecology logging

Large old trucks designed to get into the forests

“It is not correct or fair that the profits of some cause problems and suffering for others and damage to public infrastructure. We need to discuss and put forward legislative changes, organise a consensus and have a full understanding and then agreement of all parties to resolve this important issue, “said the mayor.

bulgaria veliko tarnovo land property real estate mayor ecology logging

Landslides and a desert instead of woodland and forest, this is a scene which cannot be tolerated around Veliko Tarnovo

In conclusion it was agreed by December 27th necessary measures were to be drawn up with the intent to resolve these problems and by January 15th, 2013 to come up with a solution at the second meeting with all institutions and stakeholders.

By this time the Regional Directorate of the Interior Ministry will take action, said Chief Commissioner Zhivko Kotsev. Limited movement of heavy timber will be via regulated routes and crossings. Anyone who violates these routes shall have sanctions imposed upon them.

News, Property News

Why choose Veliko Tarnovo Real Estate for Second Bulgaria Techno-Park?

I read with interest the view of Delyan Dobrev with regards to the development of a 2nd Technology Park.

agribusiness estate in veliko tarnovo

Delyan Dobrev has a good point regarding a 2nd Techno Park in Bulgaria

Should a second one ever be developed, since the 1st one is to be built in Sofia next to the Bulgarian capital city’s Tsarigradsko Chaussee Boulevard, Sofia Tech Park, a 100 million leva (50 million euro) project. Comprising of new real estate in Bulgaria, the first stage of Sofia Tech Park would accelerate innovation in information and communication technology, confirmed President Rossen Plevneliev in June this year. When completed, the park will include state of the art Bulgarian real estate comprising; offices, a technology centre and a museum. The aim of this project will be to make Bulgaria a regional leader in IT.

However, we must agree that Bulgaria as a nation proudly hosts some of the most fertile soils and is able to become a European regional leader in Agribusiness development, or (for the uninitiated) the amalgamation of agriculture and business, with specific reference to the range of activities and knowledge encompassed by modern food and beverage production. So yes, it makes absolute sense to develop a 2nd Technology Park focused on agribusiness technology as per Minister of Economy, Energy, and Tourism Delyan Dobrev said just over a week ago.

The only opinion I have which is different to the Ministers’ is the location! Speaking during an international forum on industry and innovations, he was adamant that if such a project was given the go ahead, it would be developed near the city of Plovdiv to host agribusiness companies. Now I am aware that there is the International Fair Plovdiv which hosts the AGRA exhibition, International Agricultural Exhibition and BioAgra – Trade Exhibition of Organic Farming, however the International Fair also hosts the ITALIAN FESTIVAL OF BEAUTY AND HAIR-STYLE (International Exhibition of Hairdressing, Beauty, Make-up, Perfumery and Fashion), C.A.C. & C.A.C.I.B (International Dog and Cat Shows), MEDICUS DENTO GALENIA (International Exhibition of Medicine, Dentistry, Pharmaceutics), FOODTECH (International Exhibition of Food & Drinks, Packaging, Machines and Technologies) and INTERMIN EXPO (International Exhibition of Mining Industry) to name but a few. Plovdiv appears to get its fair share of exhibitions and companies based there would specifically be related to machinery, mining, power engineering and ecology and of course wine making in the Thracian Plain.

So what about looking to the North Central area of Bulgaria, commonly known as the Danubian Plain, spanning from Dobrich to Pleven and in the centre is the old capital of Bulgaria, Veliko Tarnovo which is positioned adjacent to Gorna Oryahovitsa. This town used to be the centre of rail transportation across Bulgaria and its borderline neighbours and food processing and export used to be one of its main activities after harvesting crops from the plain and surrounding lands. Not only has it retained its centre of rail infrastructure (all be it in need of modernisation) it also has a fully operational International airport, which those of you who read my blogs frequently will recall that a letter of intent has allegedly been lodged regarding the purchase of the concession. Therefore the region of Veliko Turnovo has a recent historical pedigree in agribusiness and sits adjacent to some of the most fertile open tracts of land and estate in Bulgaria. Veliko Tarnovo is home to the 2nd largest university in Bulgaria after Sofia, the St. Cyril and St. Methodius University. Veliko Tarnovo is in the centre of Bulgaria on major cross roads and there is also an abundance of wine production in the region and acres of forestry.

Veliko Tarnovo location for Bulgaria 2nd Technical Park

The site of Vasil Levski Military University would be perfect for a Agribusiness based Technical Park

Last but by no means least is the fact that there is a huge plot of land, prime Veliko Tarnovo Real Estate, many commercial and educational properties lying empty and yet built soundly which would immediately lend themselves for use as an Agribusiness based Technology Park, being ecologically and environmentally friendly, through not having to demolish and start again.

 techno park bulgaria veliko tarnovo

Great location and campus for a new Agrobusiness Technology Park

Its actually already a campus and this use would fit into the towns spatial development plan. The site is the Vasil Levski national military university and academy site to the west of the town, adjacent to the site are hectares of land which would be suitable for crop research and development. The site can be seen on the satellite image outlined in red.

News, Property News

Veliko Tarnovo area – most popular place for Bulgarian property

real estate veliko tarnovo

Veliko Tarnovo – picture pretty as usual

 

TheMoveChannel.com’s recent analysis of Bulgarian property buyers show that the most popular place for Bulgarian property in the last 12 months was neither a ski nor beach resort, but the Veliko Tarnovo area.

How Veliko Tarnovo managed to generate the highest number of enquiries, beating seaside cities like Burgas or Varna?

  • Veliko Tarnovo District boasts a central position in Bulgaria, has good transport links with Sofia, Varna and Burgas and there is the Gorna Oryahovitsa Airport, just outside the City of Tsars.
  • This part of Bulgaria offers an array of historical landmarks and has a different kind of tourist appeal (see previous posts here).
  • Living costs are lower compared to other cities of the country.
  • The area offers great value-for-money Bulgarian real estate – properties for renovation, cheap countryside houses, Veliko Tarnovo apartments and town houses and luxury properties. We have them all!

So why not book your FREE viewings with Yantra Homes, now?

News, Property News

The re-registration of companies worries British owners of real estate in Bulgaria

Britons with property in Bulgaria are worried not about losing their real estate because of legal requirements, reports the online edition propertywire.com. Leading consultancy firms in the UK warn that because of the re-registration of companies British owners risk being fined or even losing their assets in this country.

Consultants John Howe & Co. explained that many Britons with Bulgarian property do not realise the complexity of the Bulgarian legal system and its potential impact on them. The managing partner of the firm John Howe is concerned by the requirement for re-registration of companies. Howe points out that until recently, individuals could not buy property in the country and had to register a company in order to purchase Bulgarian real estate. However, many British people have not been aware that they need to re-register and have missed the deadline for it, and as a result their trading activity has been cancelled and they have not been able to dispose of their assets.

The company announced that it had found a way to solve the issue with British owners  of Bulgaria property who missed re-registration, so you they don’t lose their investment. Consultants say there is no accurate statistics on the number of British residents living permanently or temporarily in Bulgaria. According to the British Embassy there are about 8-9 thousand people, who work in the country, others have bought property and live permanently, while others only spend their holidays in the country.

News, Property News

Owning property in Bulgaria

After Jan 2012, EU citizens are allowed to own regulated land property on their personal names. This post aims at informing the property buyers what they are obliged to do after they actually purchase the regulated land and/or house

  • Bulstat registration of property owners

The first thing the first-time buyer needs to do is to register themselves in the Bulstat Register.  The obligatory term for Bulstat registration is 7 days as of the moment the title deed is handed by the notary to the property owner or to a proxy. If the registration is not done within the aforesaid term, the property owner will be sanctioned with a fine by the Bulstat Register.

The Bulstat Register is part of the Registry Agency. The Bulstat registration is done in the local office of the Agency, where the property is located and it is done  for first time buyers only! Once you have bought a Bulgarian property on your name and have registered with Bulstat Register, you don’t need to register again.

Bulstat register is a statistics authority which tracks different types of information. In this case, the main goal is to count and collect information of the EU citizens who have bought real estate in Bulgaria.

  • City Council Tax Declaration of property

The next legal action is a property buyer needs to declare in the local municipality is that he owns the property. If this is not done, the outstanding taxes would still be assigned to the old property owner.

This declaration has to be brought in within 2 months after the title deed for the purchase is signed. If this deadline is missed, the municipality will impose sanctions (fines and interest) on the new owner.

The declaration of the property has three main goals:

  1. The municipality is now aware that the property has new owner
  2. The owner declares the type of the property, it’s area, construction type etc.
  3. The municipality calculates the tax value of the property based on the declared facts and defines the annual property tax and garbage fee

Having the above information, the local council sends  annual letters (usually in the beginning of the year) with the outstanding amounts for local property tax and garbage fee. Some municipalities provide online check (e.g. Samokov) where a person just has to sign up with his Bulstat number and can see the information without waiting for postal notice or calling the local tax office.

If the  declaration hasn’t been done, or the outstanding money hasn’t been paid, the municipality charges interest on the unpaid amounts.  A recent trend is that the municipalities use law enforcement agents to collect all these debts. Hiring an enforcement agents increases the amount with legal costs and is a threat to foreigners who don’t live in Bulgaria, because the property can be put on public tender and sold in order the council debt to be covered.