Finance

The building of new underground streets that will accommodate some of Veliko Tarnovo’s car traffic is one of the proposed ideas concerning the ‘face’ of the newly forming central part of Veliko Tarnovo. New pedestrian zones and town squares, as well as a new library, new museums, green areas, sports grounds and new state institution and department buildings will be set up above the underground streets. Architects have one more month to introduce their ideas about the look of the terrain that is said to become Veliko Tarnovo’s new, free of vehicles, town centre.

The Old Military Academy’s buildings and offices that were placed on this site before, were recently demolished. The better part of them was knocked down because of the new urban sewerage construction plans;.besides they were in ramshackle state. Because of the digging that took place for the pipe network some of the newly planned underpasses are already at hand.

Once all the architectural plans are entered into the competition and the most appropriate proposal is selected, Veliko Tarnovo municipality will start looking for project funding.

Bulgaria emerged as the only East European country to make its way to the shortlist, comprising the most preferred destinations for UK citizens to buy property in. Britons who are interested in buying abroad are more likely to head to Spain rather to their traditional destination France. The data was published in a representative survey conducted by a leading real estate agency.

The analysis shows that 51% of those who intend to acquire property abroad will nonetheless remain UK citizens, one-third will emigrate in a quest of a better future and 13% will buy with the aim of long term investments in mind. Some of the reasons behind those purchases are better weather, life with less stress, fewer expenses and the prospect of a better place for starting a family.

Despite the fact that Spain is the most likely place of choice for Britons as for buying for investment, France is preferred for emigration. Bulgaria it the only East European country that made it to Top 10 in the survey concerning many different aspects – Bulgaria is the 10^th most preferred destination for Britons to emigrate to and holds 5^th place in the list of countries in which British citizens have made biggest property investments, overtaking France, Italy and Greece.

The UK economy growth of last year and the rising confidence in the UK housing market will make more Englishmen invest in vacation properties. The improving economics in Great Britain and the stronger pound sterling will probably back the growth of overseas real estate investments. Beside that the UK housing market is also recovering faster than the one on the Continent.

According to various consultant firms Britons will now start looking for vacation properties especially against the background of predictions about the pound sterling gaining strength against the euro. There are signs that average prices in some of their favourite destinations – Spain, Portugal, France and Bulgaria are increasing, so it’s starting to feel like a good time to buy now.

Plans for the building of new roads in the old part of Veliko Tarnovo were disclosed last week. They are set to solve the traffic issues that thousands of citizens of ‘Varusha’ quarter are encountering every day. The residential quarter that is remarkable for its architecture, namely houses built in tiers, is literally going to be unclogged. Ambulances, fire-fighters’ trucks and snow-ploughs will finally have access to the magnificent old quarter. Currently they can only get to the lower part of ‘Varusha’ and entering deeper along the narrow cobbled streets is virtually impossible

The building plans for the new lanes are ready. The total investment for setting up the new infrastructure will probably amount to 200,000 euro. The money is also going to be enough for the building of several parking lots. The new infrastructure will be beneficial for another neighborhood as well. Ten thousand people who live in ‘Kartala’ residential quarter will have alternative route to get to the town centre of Bulgaria’s old capital and to the renowned Tsarevets Fortress.

Luxurious houses with pools, set within a pine wood, are to form a rich neighbourhood on top of one of Veliko Tarnovo’s hills. There are already three projects that have been granted building permission. The 2-story high-end properties are equipped with pools and barbecues, and their living space spans at more than 200 sq .m. Beautiful terraced gardens are to enclose the houses. They will also benefit from a fantastic panoramic view of Tsarevets Fortress, Arbanasi and Sveta Gora.

The area is promising of becoming the preferred place of living for the wealthy. A number of experts in architecture admit that the projects, when accomplished, are set to outdo everything done by now in Veliko Tarnovo concerning style, splendour and luxuriance.

According to real estate agents the location is top-notch and the asking price per sq. m. may surpass that in Arbanasi. The rich quarter will consist of 30 houses in total.