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Bulgarian Property News

For anyone thinking of buying a property in the capital, Sofia, make sure you have a garage! Sofia is more expensive for parking than the capital cities of Spain and Germany, according to a survey by Colliers International. A day's parking in Sofia comes in at 8 to 12 euros, whilst parking for a month is from 100 to 200 euros. Sofia has a dearth of parking, making fees very high and it is now the 13th most expensive city in Europe in which to park. This inevitably influences the price of property and office space. Those properties offering parking lots or underground garages are on the market at a premium. London came in the most expensive for monthly car parking, with rates in the city of 630 euros and 590 in the west end. Highest daily charges were in Amsterdam, where it costs a huge 50 euros a day to park your car.

A recent survey by property website Simplyzigzag has put Bulgaria in fourth place for real estate. The site researched amongst foreign buyers for their opinion of the best country to purchase property. Top of the survey was Iraq, followed by Croatia.

Property buyers are being urged to act by Cushman and Wakefield, property experts. In a recent report the company says that Bulgaria is favoured as having a healthy economic performance and that there are signs of recovery in parts of Europe. The company cited Greece and Norway with Slovakia and Bulgaria as countries where green shoots are appearing.

The Bulgarian Black Sea coastal city of Varna has passed legislation to protect its environment with the conservation of green belts around the town. Improvement of infrastructure is included in the bill to boost the regional economy. Development is continuing of the harbour, where already over 9 million euros has been invested.

Despite the problems faced by many property developers, Novinite reports on the opening of the second phase of Tzarigradski Complex. This is Bulgaria's largest gated community and is situated in Sofia. The complex is by Sofia Building Company, established in 2004, who said that nearly every apartment had been sold.