Property News

a postcard of hotel Tsar Boris

Recent article in the Bulgarian newspaper Trud reports that another iconic Veliko Tarnovo building is going to be restored to former glory. According to Trud, the US millionaire, Edmund Beck, the owner of Hadji Nikoli Inn, purchased the decaying building of Hotel Tsar Boris III.

Hotel Tsar Boris was the one of the most preferred places for Turnovo Bohemia in the early 20th century. Built by the famous master Stoyan Gerganov, father of a prominent Tarnovian Tsanyo Gerganov, the hotel was owned by the brothers Panayot and Yanko Shopovi.

Shortly after the construction of the building, one of the brothers (Panayot) passes away. Yanko Shopov was known for its bohemian and prodigal character, which is why the hotel is later sold to Stanyu Subev – The Butcher.  He in turn sold it in 1919 for 140,000 Levs to Stefan Merdzhanov.

Under the ownership of Stefan Merdzhanov, the hotel goes through its golden ages. Hotel Tsar Boris III is a three-storey building, of which only two are facing the street. Its stone features and balconies, make it interesting in terms of architecture and building today.

Historic data from 1903 shows that the premises (the hotel and the restaurant) had good income. The hotel used to accommodate Italians and Belgians who were involved in the construction of the railway line between Ruse and Veliko Tarnovo. The good financial situation of the hotel led to expansion of the building; a new mansard floor was built and the roof was lined with then unknown galvanized steel.

The entrepreneurial spirit of Stefan Merdzhanov incites yet another improvement on the building – the famous spacious balcony, overlooking the hills of Tsarevets and Trapezitsa.

Hotel Tsar Boris III was a 40-bed hotel with staff of 27-28 people – cooks, waiters, housekeepers. Always fully booked, it accommodated famous people such as Marshal Tolbukhin (a Soviet military commander). The restaurant of Boris III had great menu, appealing to all tastes. According to historic records, it was the place to be on a night out.

Hotel Tsar Boris III now

This Veliko Tarnovo property has been uninhabitable for years. It has become a refuge for tramps and was set on fire a few times.

Architect Nikolay Georgiev, who drafted the reconstruction of Hadji Nikoli Inn will take over the reconstruction project of this building, reports Trud.

In 2006, the millionaire paid over half a million lev to the heirs of Hadji Nikoli Inn and invested another 2 million lev for its restoration.

current look of the Poltava building

The famous Poltava Building in Veliko Tarnovo gets a fresh face-lift. The premises are set to have a shopping centre with a café, restaurant and gym. It is expected to be open to public this summer.

Hectic renovation works have been going on for a few months now. The restaurant will be open by March 22, just in time for the Official Holiday of Veliko Tarnovo.

A little known fact about Poltava is that it is a typical example of the architectural style brutalism. This style started in England in 1954  and became popular in the 60s. It is characterised by simplified and crude building facades without any decoration and celebrating the natural structure of materials –  the concrete, steel, brick and glass. Currently, the style is very popular in Israel and Latin America. Many prestigious American and British universities and court buildings are also built in this manner.

Tsarevets Castle

Veliko Tarnovo is competing to be the best place to live in Bulgaria. The poll is organised by a national radio and a  daily.

The best city to live is determined by a national survey. For a month and a half, the 2 media outlets will be gathering all sorts of information about the living quality and standards in towns all over Bulgaria.

Criteria such as investments, bicycle lanes, number of kindergartens, stray dogs, unemployment rates, sports facilities, parking issues, free Wi-Fi from a total of 29 will be taken into consideration

27 regional towns are participating in the battle for the best city to live. Naturally, the city with the highest number of votes will receive a special prize. Veliko Tarnovo has been voted “most beautiful Bulgarian town” for 2008 and 2010!

Currently the town is in the top 10, beating the capital which is ranked 21st!

Bulgarian real estate

In 2013, real estate prices in Europe will continue to fall, predict analysts of the international credit rating agency Standard & Poor’s. The only exception would be Belgium, where property prices ​​continue to rise. The main reason for the pessimistic forecasts is the weak economic activity.

Since 2009, Belgium has been the only country that does not account for depreciation of homes, houses, offices and retail outlets. Belgian market, however, is also expected to account for delays in price growth this year.

Dryanovo Properties

If you are looking for a rural retreat located in a magical area, monastery towns in Bulgaria are great for that. Take a look at our pick of Bulgarian properties near a monastery hotspot, such as Dryanovo.

Bulgaria’s Orthodox religious beliefs are ingrained into the country’s rich cultural and historical heritage with around 120 monasteries hidden in remote mountains, surrounded by panoramic scenery and terrific natural setting. Each monastery is unique with its own intriguing history and architectural legacy.

Dryanovo is also situated at the northern foot of the Balkans near Gabrovo. It lies in a picturesque gorge close to the Dryanovo River, about 4 km away from the fascinating Dryanovo Monastery, which was established by two rebel bolyars from the former Bulgarian capital Veliko Tarnovo.

The monastery provided shelter to many monks during the 14th century, however and the beginning of the 15th century, the monastery was destroyed by invading Ottoman troops. Later, in the 17th century, it was reconstructed to its present state. Its single nave was partly buried underground. The monastery became a religious and cultural centre boasting one of the largest and best preserved cloisters in the Veliko Turnovo region and today it as amongst Bulgaria’s most visited tourist sites.

Prices for renovated Bulgarian houses in this area stand at around the average for the whole country at 38,000 euros. You can still pick up a renovation bargain here for around 7,500 euros. Feel free to  have a look at our Dryanovo Properties