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Bulgaria's Mountain Hotspot to See Surge in Land Prices

 
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baz
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Joined: 13 Oct 2006
Posts: 60
Location: Loughgall, N. Ireland

PostPosted: Mon Nov 06, 2006 1:56 pm    Post subject: Bulgaria's Mountain Hotspot to See Surge in Land Prices Reply with quote

Land in Bulgaria's mountain pearl of Bansko will soon start selling for over 20% more, Mayor Alexander Kravarov said.

The mountain town's mayor told Darik News that Bansko will stop giving out construction permits until the chief architect is ready with the urban development plans.

Bansko's administration has granted some 300 permits for 2005 and 2006, Kravarov said, adding that the interest in the region is still high. He explained that he expected the price of EUR 200 per square meter of land in the area to rise by 20% at the least, once they start granting construction permits again.

It is still too early to talk of any major problems with water or electricity in Bansko. "We are getting by so far, and I think that we will continue to get by in the future too," he said.

The mayor pointed out that his main concern is that the area is getting too urbanized. "We want to limit the construction of apartment hotels," he explained.

Source: Sofia News Agency (novinite.com)
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ZandraLaPoI
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Joined: 23 Oct 2006
Posts: 59
Location: Yorkshire

PostPosted: Tue Nov 07, 2006 9:25 am    Post subject: Reply with quote

Another article from the Sofia Echo. Is this going to affect MRI projects. Personally, don't mind as it means more time to save!!!!

CONSTRUCTION IN BULGARIA'S BANSKO STOPS ON JANUARY 1 200709:06 Tue 07 Nov 2006

Construction in Bansko winter resort will cease starting January 1 2007, until all urban planning is completed.

Afterwards construction would be permitted only in certain areas, Bansko mayor Alexander Kravarov told Darik Radio.

Nearly 300 construction permits were issued in Bansko in 2005 and 2006 and a number of additional applications were received, said Kravarov.

Currently a sq m of property in Bansko costs 200 euro and once planning was completed prices were expected to increase by 20 per cent.

Law enables temporary construction halts, while planning is underway.

Bansko's infrastructure was not posing major problems, Kravarov said. Over-construction was the main negative development that the resort was experiencing, said he.
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