News For Bulgarian Estates and Property Market

14
Mar. 2011 In 2011 the Global investment Bulgarian property market will continue to recover The number of real estate auctions initiated by private enforcement agents in Bulgaria in the first months of 2011 was double the numbers from the same period of the previous year.

In 2010, property tenders came in at 700 to 800 a month on average, but their numbers soared to between 1500 and 1600 in January and February 2011.

By comparison, the number of auctions for enforced sales of property in 2008 stood at between and 40 and 50 a month.

The increase in real estate auctions was attributed to the growth of non-performing mortgage loans, as well as to the accumulation of old tenders that found no buyers.

26
Jan. 2011 Re-registration of Bulgarian companies extended As you know till the end of this year all Bulgarian companies had to re-register. With the new adopted law the deadline for re-registration of companies is extended with one year. The term and should to expire on 31 of December 2010. Now there is extension of 1 year to 31st of December 2011. The period for re-registration have been continued on 30.12.2010 because the congestion of the tax register.
More information you can read bellow:
If you have open company in Bulgaria and own property or through a registered company the Bulgarian government now requires that you re-register the company by the end of 2011 only if your Bulgarian Company was created prior to January 2008.
Failure to re-register will result in the loss of the company and its assets (property, land etc.) and you will also incur a fine and will have to pay for the procedure to close the company. This could result in the company be broken down and sold off and may still be in the situation of owing money to the Bulgarian Government, which may follow you to your residential address.
Your company registration process can start either from abroad or when you come in Bulgaria. Just let us know the way that you prefer. You can give a Power of Attorney for the re- registration to us or our lawyer and we will sign the necessary documents on your behalf.
The Law also request that all Bulgarian companies, no matter whether they are trading or not, publish their financial reports in the online register, starting from the reports for 2007. This should be done within 2 months after their company re- registration. This is also something that we or our lawyer can do for our clients.
Our advice is if you have a company in Bulgaria, not to wait till the last minute, but organize your company registration. Our lawyer will be ready to help you go through the whole process and act on your behalf.
Some of our clients already did the re- registration, so don’t wait till the last minute.
If you have any question , do not hesitate to contact us on:
office@bestbulgarianestates.com
skype:bulgarianproperties4all

03
Sep. 2010 Property prices in Bulgaria slid by 0.8 per cent Property prices in Bulgaria slid by 0.8 per cent between April and July compared with the previous quarter, the National Statistical Institute (NSI) said.

On an annual basis, the prices of Bulgarian properties have decreased by 9.7 per cent, according to the most recent statistics.

Bulgarian homes were selling for an average of 971 leva a sq m in the second quarter, the highest in Varna (1594 leva a sq m), followed by Sofia (1558 leva a sq m) and Bourgas (1231 leva a sq m). The least expensive dwellings were in Kyustendil, at 569 leva a sq m.

The second quarter saw declines in 13 cities and towns in Bulgaria, the sharpest in Gabrovo (-8.3 per cent), Shoumen (-7.8 per cent) and Vratsa (-6.9 per cent).
Home prices in Sofia remained unchanged and increased in 15 cities and towns.
The most interesting destination for searching Bulgarian properties remain the sea cities: Varna, Bourgas and Dobrcih and the nearest villages as well.
A big rise of Russian investment in Bulgarian real estates along the Black Sea coast has been reported.

Russians generally tend to choose properties along the Bulgarian mountains or large resorts on the coast, but they also settle occasionally for a quiet, rural way of life in small Bulgarian villages

Sourse:Dnevnik.bg

25
Jun. 2010 Re-registration Bulgarian Company If you have open company in Bulgaria and own property or through a registered company the Bulgarian government now requires that you re-register the company by the end of 2010 only if your Bulgarian Company was created prior to January 2008.

Failure to re-register will result in the loss of the company and its assets (property, land etc.) and you will also incur a fine and will have to pay for the procedure to close the company. This could result in the company be broken down and sold off and may still be in the situation of owing money to the Bulgarian Government, which may follow you to your residential address.

Your company registration process can start either from abroad or when you come in Bulgaria. Just let us know the way that you prefer. You can give a Power of Attorney for the re- registration to us or our lawyer and we will sign the necessary documents on your behalf.

The Law also request that all Bulgarian companies, no matter whether they are trading or not, publish their financial reports in the online register, starting from the reports for 2007. This should be done within 2 months after their company re- registration.. This is also something that we or our lawyer can do for our clients.

Our advice is if you have a company in Bulgaria, not to wait till the last minute, but organize your company registration. Our lawyer will be ready to help you go through the whole process and act on your behalf.