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Every village in Veliko Tarnovo region with video surveillance

surveillanceAuthorities have announced that each village in Veliko Tarnovo area will have its own video surveillance by the end of the year. CCTVs are on top of the priorities’ lists of the mayors of the 34 villages and the two small towns of Debelets and Kilifarevo which fall within the jurisdiction of Veliko Tarnovo Municipality.

The first CCTV camera in a local village was set up about five years ago; by the beginning of the year the number of settlements with video surveillance has reached 27 with 180 cameras. The last 9 places without this feature will have it before the end of the year.

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News

Good news for Bulgaria as debt-to-GDP ratio is tops in EU

More good news for Bulgaria and again a demonstration that Bulgarian real estate is a very worthwhile investment to base your small to medium enterprise (SME) in Bulgaria.

Bulgaria is now ranking in 2nd place within the European Union in relation to the “debt-to-GDP ratio”, which is a recognised economic indicator of the health of a country’s economy, according to data supplied by Eurostat. In the third quarter of 2012 the correlation between debt and Gross Domestic Product (GDP) was 18,7%.

bulgaria economy veliko tarnovo property

Bulgaria economy, “debt-to-GDP ratio” shows Bulgaria is on the right track in Europe!

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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

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

Bulgarian property market trends

Bulgarian property prices have dropped by almost 50 pc since the beginning of the financial crisis, say realtors. Bulgarian houses and apartments are sold at low prices. This why most buyers who waited for the prices to come down, are buying now. Even in August, a month that seems to be slow for the property market, there are plenty of buyers. These are generally people who have waited for the prices to drop enough, so they could invest their savings in larger and cheaper housing.

For the Bulgarian capital and the larger Bulgarian cities and towns the average sale prices of Bulgaria homes have fallen by about 20 Euros per square meter since the beginning of this year. Most sought-after are one-bedroom apartments within the price range of 35,000 to 45,000 Euros, however buyers struggle to find good properties within this price range, especially when they are looking for newly-built properties.

Rental prices are not expected to go up, agents predict. Even though August and September are the most lively months on the rental market (especially for apartments in Bulgaria), the supply of rentals exceeds the demand. In Sofia, for example, properties close to the newly-built metro stations are more attractive than the old apartments in the centre.

Since 2008 the rental prices have declined by a third and are not expected to go up, experts predict. This is due to the fact that alongside the old apartments in the centre and other residential areas, newly-built apartments, bought during the recession namely because of their investment potential, are also offered on the market.

And in recent months, buyers and renters express their preference towards new buildings close to transport links, areas with low crime rate and local amenities, such as schools and kindergartens.

News

60 thousand tourists for two months in Veliko Tarnovo

Recent festivals (the open-air jazz festival, the international folklore and the opera festival in the Tsarevets Castle) have attracted a significant number of tourists to the Veliko Tarnovo and the area. According to statistics of the local tourist information centre, some 60 thousand tourists have visited the Old Bulgarian Capital. The peak of the visits is expected in August, predicts the head of the tourist agency.

The number of tourist has increased compared to last year, due to the variety of cultural and historical events Veliko Turnovo is organising, as the town prepares its candidacy for the cultural centre of Europe for 2019.

The new inflow of tourists have also been beneficial to the revival of the ols spa town of Voneshta Voda, which now has several hotels, guests houses and spa centres open and offering wonderful spa treatments.

Over the past six years, the bed capacity have been consistently increasing and is currently about 5000. Recent events in Bourgas have not affected the Israeli visits to the old capital and all planned visits are running smoothly.

There is a notable continuous growth of 7 – 10 percent of pilgrimage tourism, which is becoming popular due to the number or ancient and Orthodox churches of cultural and historical significance in the area. Some of the most famous are the “40 Martyrs” Church in Veliko Tarnovo and the miraculous icon of Virgin Mary in Arbanassi.

These have definitely had positive effects on the local property business as well. There is a notable surge in Bulgaria real estate sellers and buyers and we expect the number to peak in the month of August.

News, Property News

Food chains most active in the commercial property market in Bulgaria

Cafes, restaurants and food chains are the type of businesses that have been moving the Bulgarian commercial property market in the last six months. The expansion of grocery stores and restaurants is also directed to commercial streets and at shopping malls, says in a Bulgarian retail market report for the first half of the year.

Banks and mobile network providers are also active on the market, but their activity is not due to their expansion, but rather to the optimization of costs and relocation, the report said.
There have not been any surprises in the market for commercial properties in Bulgaria for the first half of the year. Due to high levels of unemployment and the free space in modern shopping centres, the market continues to be rental-oriented, experts indicate.
Although rental rates have stabilized in recent months, the high competition in the market is expressed in different bonuses for tenants, such as gratis periods when they don’t have to pay rent.
In the first half, the average rental price for retail space in Sofia have fallen by 12% to about 28 Euros per square meter and by 16% to 12-16 Euros per square meter in other Bulgarian cities.
The price drop is mainly caused by the fact that many traders were able to renegotiate the rents for the areas used, due to increasing competition in the market, says the report.
Currently, there are 21 modern shopping centers  in Bulgaria and five retail parks with a total lettable area of 680k sqm. There are 9 malls under construction, and for Sofia only this lettable commercial space is expected to grow with another 180k sqm by the end of this year.
Next year in Sofia, the market will grow with additional 93k sqm of retail space in shopping malls. So for  every 1 000 people in the capital there will be more than 300 sqm of modern retail space. The country average for retail space per 1 000 people of the  population will be a little less than 100 sqm, if all construction projects are completed on time.

For commercial properties for sale in Bulgaria, mainly in the Veliko Tarnovo area, please feel free to have a look at our catalogue.