Property News

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.

Owners of property in Veliko Tarnovo’s Nezavisimost Street and developers who want to build in the area will have to meet certain requirements for renovation and construction.

An expert team of architects Nikolay Malakov, Donka Koleva and Stefan Tangalov have prepared a scaled model of the original look of the historic street, as well as a set of requirements for developers, regarding the buildings height, elongation, façade, etc. Continue Reading

Construction in August has declined compared to July this year, and compared with the same month last year, according to the National Statistical Institute (NSI), reports Dnevnik.

Usually the summer months are the strongest in the sector because of the favourable weather conditions, but this August NSI reported shrinking in the construction of buildings and infrastructure.

Preliminary NSI data shows that in August 2013 the index of production in the sector, calculated on the basis of seasonally adjusted data, has dropped by 1% compared to the previous month, and by 9.5% from levels reported in August 2012.

Compared to July 2013 civil construction decreased by 1.1 % and building construction – by 0.8%. Compared to August 2012 the decline was respectively 12.3% and 7.2% .