Finance

The Old Post Office

Despite their potential both buildings are abandoned

Veliko Tarnovo filed an official request requiring for the ownership of two symbolic edifices to be passed from the state into the hands of the Municipality. The buildings in question are the Old Post Office at the beginning of Samovodskata Charshia and Trapezitsa Railway Station. Both are intrinsically related with the history of Bulgaria and Veliko Tarnovo. The local authorities rely that the government will take the idea in good part and grant the possession of the properties. The Post Office couldn’t be sold on three occasions. Investors are not interested due to the lack of parking which means it can be converted into a hotel or a shopping centre. The Mayor’s idea is to turn it into a Contemporary Arts Museum, which Veliko Tarnovo lacks, or a place where artists and craftsmen can practice their trades and display their works. Continue Reading

The increased property seeking trend that has been felt on the Bulgarian real estate market will continue throughout the year. The prognosis was expressed by a leading real estate agency. The report it issued notes that property prices in the begininng of 2014 are considered to be at their most affordable rate for the last 10 years. Financial institutions are now offering better terms for their mortgage loans and are also prone to renegotiate the clauses of already existing ones; thus contributing to the property market revival. Continue Reading

A growth of 5% is expected in the price of newly-built properties

Bulgaria is amongst the four European countries which marked an increase in the number of property purchases. The data was revealed by a leading real estate agency that operates in 14 European countries. The figures the agency disclosed show a rise of 43% in the number of houses and apartments bought in Bulgaria’s major cities in 2013 compared to 2012. Continue Reading