Austrian foundation to build mixed-use centres in Sofia Austrian foundation Togewa has announced plans to invest a total of 400 mln euro in the construction of two mixed-use retail and office centres on the outskirts of Sofia. The Eurogate project, certified as First Class by the local investment promotion authority, is expected to be recouped within a decade of its completion. The first complex should ... Bulgaria first-half average home loan size up 25% year on year The size of the average home purchase loan increased by 25% year on year to 38,600 euro in the first half of 2007, said local loan consultants Credit Center. The upturn is attributed to the higher percentage of the home price covered by the mortgage and the increase in property prices. Some 40% of the first-half home purchase loans disbursed covere... Danish buyers snap up Byala area villas All 18 villas in the newly-opened Sun Village holiday homes complex in the town of Byala, in the coastal Varna region, have been sold to Danish buyers. The 3 mln euro complex was financed by Scandinavian holding Goodlifebulgaria group. Seven additional villas will be added to the complex at a cost of 1.5 mln euro due to buyer demand, said Sun Villa... Realty brokers make 15% on transacted properties Bulgarian real estate brokers pocket a commission of up to 15% from the sale of holiday homes, said Teodora Dimitrova, executive director of international brokerage ERA. The national realtor commission average is 3%, up around a percentage point from the year-ago period.
According to ERA, the 3,600 or so Bulgarian real estate agencies handle only ... Workaround found for Sofia ring road project Two of the most trafficked stretches of the yet-unbuilt section of the Sofia ring road will go underground or be mounted on trestles in a bid to jump-start the project which has been stalled by property owners resisting the routing of the motorway through their land. The work-around, which will apply for financing from the EU funds, was discussed a...