Last update12:12:22 PM

Back You are here: Home News Mish Mash

EuroGroup expands Bulgarian Market

Expanding the Bulgarian Property MarketEuroGroup Real Estate achieved significant international growth in 2008 by entering Western and Central European markets where buyers are looking to purchase property in Bulgaria. This year EuroGroup signed partnership contracts in the UK, Ireland, France and Poland.

Moreover, the company is considering opportunities to establish business contacts in Germany and Hungary as well.

Read more: EuroGroup expands Bulgarian Market

Rudozem Street Dog Rescue

rudozem bulgaria street dog rescueBulgaria has many street dogs who are often subjected to the most horrendous cruelty. Many of these dogs are injured and in pain or starving and in the winter there is a high chance that they will freeze to death. Diane and Samantha Rowles from the UK are hoping to help change this situation in the area of Bulgaria where they now live.

Diane, married to Tony has four children and spent most of her life in Scotland on a croft with many animals. She has also worked with the elderly and on voluntary counselling with rape and abuse victims.

Read more: Rudozem Street Dog Rescue

Flights from North of Britain

North of England to Sofia BulgariaeasyJet, Europe's leading low-fares airline, will be shortly starting their two new routes from Manchester this winter to Sofia and Geneva. The two routes were initially announced in mid July this year on their web site. The new Sofia route which will commence on 11 December and the new Geneva route on 12 December, will be available from just £33.99 one way and £29.99 one way respectively.

Sofia is a particularly popular destination with winter sports enthusiasts, as they are the gateway airports to the many nearby ski resorts in the resorts such a Bansko and Pamporovo in the Pirin Mountain range.

Read more: Flights from North of Britain

Varna Best for Business

doing business in varna

Varna is once again in the public eye, but this time is is not for it's exclusive tourist industry. Research just announced by Colliers International shows that Varna, the Bulgarian Black Sea capital, has better conditions for doing international business even than that of the capital, Sofia.

The consulting company says that Varna is particularly suitable for research and development activites, internet technology business and call centres.

Read more: Varna Best for Business

New German Factory

new german factoryWitte Automotive Bulgaria, which is a subsidiary of the German firm Witte Automotive GmbH is going to invest a total of BGN 21 million in the construction of a new factory for electronic and mechanical car parts in the Danube city of Rousse, reports Sofia News Agency.

The project will employ between 300 and 400 people and will also include a research and development centre, the Vice-President of Witte Automotive, Thomas Jindra announced.

Read more: New German Factory

New Wind Farm

new wind farmThe village of Dulgi Del, in the municipality of Georgi Damyanovo, near the border with Serbia, is to have a new wind farm. The Danish company Greentech will be funding the project worth 150 million euros. This news was presented by the Mayor of the municipality, Dilyan Dimitrov, as announced on BNR.

It is anticipated that the required construction permits will be issued by the end of the month and the muncipality and investor have created a joint company for the wind farm.

Read more: New Wind Farm

Charity Bike Ride

one life bulgaria charityOne Life Charity is celebrating our Fifth anniversary charity bike ride in aid of Bulgarian children in need. We ride from Borovets (downhill...mostly!) to Sofia on Saturday 4th October. Please feel free to bring family and friends as it makes a great day out. For those participating, you can hop on and off the bus when (if?) you need a rest.

Kids are welcome to participate in the full bike ride if they are over 13 whilst there is a mini bike-ride for younger kids from near the Sofia ring-road to the finish line for 8-12 year old kids, if accompanied by one of their parents.

Read more: Charity Bike Ride

First Hybrid Power Plant

solar panels and wind turbinesA project for the first hybrid power plant in Bulgaria, to be built in the area of Troyanovo village, 14 km north west of the city of Bourgas, was presented in Sofia this week. The plant, Zlaten Yug (Golden South), will produce electricity from both wind and solar energy.

The total amount to be invested in the power plant is 38 million euros. There are three stages of construction : 2008-2009 8 million euros, 2009-2010 14 million euros and 2010-2012 16 million euros.

Read more: First Hybrid Power Plant

Bulgarians Getting Wealthier

bulgarians wealthierA recent report by Industry Watch shows that Bulgarians are getting wealthier. Their wealth has now reached 90 thousand million euros, with financial wealth at 16 thousand million and property wealth 73 thousand million. The country has also topped the worldwide housing report for house price rises.

Regarding their financial wealth, this rose by 23% in the last year. Of this, liabilities to banks and loan companies amounts to only 5 billion euros.

Read more: Bulgarians Getting Wealthier

Market Analysis

property analysisResearch conducted by the Association of International Property Professionals is reported on by Nubricks, regarding where Brits bought in 2007. Spain topped the league and France came second. "So, for all the emerging market manifestation, it is the consistent ‘big boys’ that are still the main attraction to UK residents hoping to buy on foreign soil", said Nubricks

The sands of time are slowly shifting though, and the rise of the new markets is beginning to challenge the status quo. Bulgarian property has been the ‘underdog’ trailblazer yet again, pulling a whopping 6% of the British buying market share to come in fourth place.

Read more: Market Analysis