The Israel Company “Elektra Bulgaria” ltd is building the biggest closed settlement in Bulgaria, 15km north – west of Varna in the village of Kalimantzi.
The settlement will be situated on 500 000 sq mtrs land with 400 000 sq mtrs build area.
The project also includes trade centre, kindergartens, school, church, restaurant, attraction and leisure centre ect.
The land was bought in the period 2006 – 2008.The status of the land is already changed and the project is in process of approval.
The first dig is planned for the spring 2009.
The company presented its first project a week ago – BotanicalVIPGarden. This will be built in the resort St. Constantine and Helena and encompasses 7 buildings. The first three of them are going to be ready till the end of this year. Theownerswillhave 129 over ground and 117 under ground park places. The first buyers are Russian citizens who paid 1500 euros per sq mtr.
In the western industrial zone of Varna, the company is building business centre “VarnaInternationalBusinessPark”. The build area of this will be of 18 000 sq mtrs.
A 30 meters high statue of a women is going to welcome visitors of Varna, says “24 hours local”. The brass sculpture will be built in the end of 70 meters long bridge above the sea. It is still under question where the bridge is going to be – Central Varna beach or “Fish” beach.
11.06.2008
Beaches in Varna city cover the criteria required by the European Union
The last tests made in may show that beaches in Varna comply with all eu requirements. Currently all 23 swimming zones are good, say further the statement. The report of the EU commission says also that such tests are going to be taken each week – quoted be newspaper “Moprski Trud”.
11.06.2008
Varna invests 3,5 mln leva in coastal infrastructure
In preparation for summer 2008, Varna municipality spent 3,5 mln leva for improving the sea front as quoted by local newspaper “Cherno More”.
This also includes new parking places the number of which is around 590 for the whole coastal line in Varna. This summer, the access to the alley is going to be restricted by 3 barriers. 2 of them will allow only vehicles which supply the restaurants, bars ect. and only one of them will allow other vehicles until they full the capacity.
04.06.2008
Still great to invest in Bulgaria
It may have been an international property hotspot for some time but opportunities still exist for savvy investors in the Bulgarian market. According to industry experts a number of high-end projects are being planned in the country, which is expected to attract a new wave of investment.
04.06.2008
First Golf Course on Black Sea Coast Opens in Bulgaria's Balchik
The first golf course on the Black Sea was opened Saturday in the Bulgarian sea resort of Balchik north of the city of Varna. The BlackSeaRama complex is worth EUR 103 M, and is located on an area of 1000 decares. It is the second professional golf course in Bulgaria, and currently has nine holes, with nine more expected to be added.
The complex also includes several dozens of luxury villas and houses, a mineral water pool, a gym, and a five-star hotel.
A wine-producing plant is under construction. It will use the production of the vineyard located on a plot of 10 decares, and will produce mostly white wines, with the first 20 000 bottles expected to appear in three years.
BlackSeaRama is a closed golf club where the membership costs EUR 25 000. The investor in BlackSeaRama Ltd, whose board of directors includes the President of the Bulgarian Golf Association Krasimir Gergov and the two famous Bulgarian sociologists Kancho Stoychev and Andrey Raychev.
The Bulgarian football star Hristo Stoichkov participated at the opening ceremony of BlackSeaRama.
02.04.2008
3% tax on property purchase in Varna
As from 2008, the municipalities in Bulgaria have the rights to define individual rates on local taxes and fees. In Varna District, the tax policy announced rates as follows:
1. Tax on transfer of real estate property – 50% increase. As from 2008 the tax on property transfer shall amount to 3% (as oppose to 2% previously charged).
2. Tax on vehicles – 50% increase.
3. Tax on property – 50% increase.
The tendency shows that in the areas with high activity and grow the increase of taxes is the highest. This is because of the growing expenditures generated by the municipalities for all administrative activities. In the small villages and cities, where the revenues are lower local taxes and fees still cover the lowest rates imposed by the law.
02.04.2008
Re-registration of current companies
As of 2008 a new Trade Law came into force. Under these regulations, all companies are now to be registered through a Trade Register (up to now registration of the companies has been possible only through the court). All related information and conditions of the companies are now to be public and accessible to everybody. This also requires that all current companies, registered through the court have to do re-registration. With this, they will be enlisted in the Trade Register (as oppose to the Court Register).
The term of doing so is 3 years.
If the companies fail to do so within the term they will be closed with administrative measures.
The above procedure takes about a month.
12.03.2008
Varna Plan
The long awaited Varna Plan is coming up for its final Goverment tick of approval. The plan itself will have far reaching affects on developments within the greater Varna district area. Over the coming months we expect to see a further investment and growth in City developments now that people will know what to expect on their doorstep.
26.02.2008
Multi Agency
Multi Agency For all our clients that are selling property, we are now actively promoting your properties over suitable third party Multi Agency resellers. This allows for the properties to have a wider sales frame of reference. We have placed a link below to show one of he main sites being used. We will continue to add to as many third party agencies as we can over the next few weeks ready for the new season.
26.02.2008
Varna Local Development Plan
The new and long awaited Varna Local Development Plan is now available for discussion, we can send a copy (jpg image) of this to anyone who is wishing to view it. It is a fairly large file, so please make sure your provider will allow this kind asn size of transfer. We understand the Plan is being submitted for final Government Approval first quarter 2008, we will keep you posted as to its outcome and possible implications.
26.02.2008
Black Sea Property February 2008
Welcome to Black Sea Property February 2008 Client update. The weather has now improved and in many cases building works have begun again. Over the past 6 months there has been activity within the Varna City area with prices rising, however this has not been the same in rural areas, which have had a far tougher time. However, a new year brings new people and invokes new enthusiasm and hopefully lifting the market.
04.10.2007
BSP Varna "Snagging Service"
BSP Varna is pleased to announce a new third party service of “Snagging” we have now arranged with a BG Surveying company by appointment to visit your property and write up a snagging report and video if so desired. Prices are based on the number of bedrooms deployed. Please contact us for more information
30.09.2007
Tourism 2007
Over 3.97 million tourists visited Bulgaria between January and August 2007, which is up again year on year by over 8%. An overall revenues stream of EUR 1.35 billion, which is up again 16.04% year-on-year, reports “news.bg”. Around 2.93 million EU citizens visited Bulgaria this year. Most of them came from Romania, Greece and Germany.
30.09.2007
World Bank Ratings Fastest Growing
Varna & Bulgaria is among the one of the top ten fastest-reforming and most feasible investment destinations in Eastern Europe according to the World Bank’s annual ranking, which compares the economies of 178 countries.
This ranking criteria include registration of companies, issuing operation licenses and appointments. Bulgaria tops the list of countries, some of which are more suitable for investments than those in Western Europe.
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