Bulgarian Properties

You search to buy the property in Bulgaria? We offer you the best place for that! Elhovo area is perfect place for your new home. You ask why… I`ll answer you. This region is located in the valley of Tundja River (one of bulgarian most beutifull rivers). The climate there is allied species to Mediterranean climate.

Black Sea is located only 100 kilometers away. The best opportunity if you search for property near to the sea. Elhovo is located near to Stara Planina - the most beautifull mountain in Balkan peninsula (the name of the peninsula is take from the old name of this mountain).

Elhovo regions is calm and nice. There are many shops, pubs, restaurants, disco and night clubs, internet halls and etc. The infrastructure of the town is perfect. There is a post office in the settlement. The people who live there are very kind and friendly. There are a sports equipment: tennis cort, station, basketball playground, swiming pools and etc.

The education there is on high level: there are primary schools, high school and education center. If you want to come here, there is a hotels where you can stay, during you search perfect property for you. The town is situated in huntiing and fishing area. But most inportant reason to buy property there is cheap price of the properties.

Land-plot alienation and changes to the original route cause the delay in the construction schedule of Sofia’s new ring road. Protracting the expropriation procedures has now led to a six-month delay of construction works, announced Evgeni Marinov, executive manager of Glavbolgarstroy, one of the biggest Bulgarian construction and engineering company.

Glavbolgarstroy (member of the Youg consortium) was contracted to build the new ring road extension. The project cost is estimated at 40 million leva.

Construction works can be completed by the end of the year only in case the contractor manages to catch up and finish the necessary procedures as soon as possible.

The delay was due mainly to the law suits related to the land plots which are lying on the route of the road. Marinov denyed that the project will be further delayed because of the civil claims, filed by landowners against the National Road Infrastructure Fund because of the late compensation payments. It is said that the Road Fund owes landowners a total of 12 million leva.

According to the new design of the road, it will have three lanes and additional two transit ones because of the numerous petrol and gas stations.

Marinov also said that there was one more problem which came up unexpected. All waters from melting snow and rainfalls on Vitosha Mountain practically pours onto the road. Therefore, Glavbolgarstroy’s engineers had to build household water and drainage systems, which should be city’s responsibility.

IMF (International Monetary Fund) has cut the forecast for Bulgaria’s economic growth. According to IMF the the raise will be of no more than 5.5% for 2008 and 4.75% for 2009. That was announced at a press conference yesterday by Albert Jaeger, chief of IMF mission in Bulgaria.

Mr. Jaeger also said that despite the concerning levels of inflation in 2007, prices are not likely to sustain their upward trend. It was said that last year’s inflation was caused by weather factors - drought, and a hike in utility prices.

IMF experts Jaeger and Juan Fernandez-Ansola (regional representative for Romania and Bulgaria) met state officials from the Finance Ministry, the Bulgarian National Bank, the Financial Supervision Commission, as well as private business representatives, in order to discuss the outlooks and the impact of the global financial markets on Bulgarian economy.

Officials are concerned about Bulgaria’s mixed signal over the last few years. One one side, Jaeger said, are the economic growth and all-time capital inflows, while on the other are the double-digit inflation and high account deficit. This indicates that the private sector now spends more than it actually earns.

IMF officials still believe that although the impact of the global financial recession on Bulgaria has been restricted, there might be delayed knock-on effects. If this happens, it will lead to the cut-down of exports and a decline of the capital inflows.

In addition, IMF officials advised that Bulgaria should keep high fiscal surplus. They warned the Bulgarian Government to be careful about the public sector reforms. They reminded that they should be considered from financial point of view and not political.