Bulgarian Properties

Bulgaria and Japan to develop more sophisticated economical and cultural relationships. Such hopes were expressed on a meeting attended by Japanese ambassador Tsineharu Takeda and Varna’s deputy mayors Venelin Zhechev and Anton Zhozhev.

“Our countries can be now equal partners”, said the ambassador and also pointed that Japan has always been helpful to Bulgaria’s development and economical growth.
In the context of deepening the relationships between the two countries, the number of Japanese tourists in Bulgaria is expected to increase.

Last year our country was visited by more than 15 000 tourist from Japan. There are many TV channels broadcasting commercials about Bulgaria so it can be said that the Japanese are familiar with Bulgaria as a tourist destination.
According to the ambassador, what is most attractive about Bulgaria is its history, culture and archeology.

Bulgaria has already established stable cultural relationships – i.e. the town of Kazanlak and the Rose Festival has been for a long time a symbol of such mutual co-operation.
The Japanese Bank for Development has recently agreed to grant a 238 million loan for the relocation of Varna and Bourgas arine ports. Japanese engagement in such expensive projects of public importance is a firm promise for their will for co-operation with Bulgaria.

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Commercial estates in Veliko Tarnovo reached record price – 6000 Euro per sq.m. That was annonced by the local newspaper “Yantra Today”. The deal was for a shop with a total cost of the purchase of almost 900 000 Euro.

The price is a record for Veliko Tarnovo property market and still amazes real estate agents. This figure can be compared only to prices in Sofia’s “Lozenets” and the centres of Varna and Bourgas.

The main reason for the extreme price is said to be the lack of business areas. Veliko Tarnovo has limited options for commercial properties since there is only one main shopping street. That is way most investors prefer buying shops in the residential complexes rather than esattes located on Gabrovski street ad the Bulgaria boulevard.

Demand is signifficantly high, but the supply of office and commercial realty is very low, as owners make a good profit from letting their properties for rent. Brokers admit that it is virtually impossible to find any business space on the main street of Veliko Tarnovo.

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