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LM Legal Services is independent Bulgarian law firm operating in Sofia since 1995, providing the highest quality of legal service to international organisations, businesses and individuals.
Recent Posts Tagged With 'bulgaria'
Property Prices in Sofia and in Plovdiv
Prices of properties in Sofia and in Plovdiv have dropped by approximately 17% in the third quarter of 2009 in comparison with the same period of 2008. The average real purchase prices of apartments in Sofia are similar to the ones at the end of 20...
Prices of Luxury Property
In the last months the highest price of a property purchase in Sofia was 3000 Euros per sq m. This is half of the top prices paid for luxury properties two years ago. The owners of expensive properties sell them now for two reasons – some exp...
Minimal required share-capital of a limited liability company is lowered to 1 Euro
With changes in the Commercial Law the minimal required share-capital to register a limited liability company in Bulgaria has been lowered to 1 Euro. The changes have been published in the State Gazette today and shall be in full force and effect as ...
Property Prices In Affluent Areas
The prices of the apartments in affluent areas of Sofia have dropped by 20 %. The most serious price drop is in the area of the Doctor’s Garden – by 33% and now the price is 1500 Euros per metre. This is due to the fact that the propertie...
British sunseekers flock back to Spain and France in search of bargain holiday homes
By Kevin Rose, The Independent As property prices fall across Europe, the chance of owning a holiday home abroad may never be better. And with sterling struggling against foreign currencies – touching a six-month low against the euro on Thursday â€...
Bulgarian Property Market – An Overview
In the next four to five months the property price drop in Bulgaria will be much of smaller scale, according to analysts. After that the property market will hit the bottom. According to the statistics, the property prices in Sofia drop slower in the...
Property Market In Bulgaria – Update
The prices of properties on the Bulgarian Black Sea coast have dropped by 15-30% while those of inland properties by almost 70%. Newly built apartments sell for 390 Euros per sq m. In Sunny Beach there are completed apartments for sale for 20-30 000...
Bulgaria to yank cash out of property deals
Dnevnik Daily A new public institution will be set up in Bulgaria to manage and control amounts from all real estate transactions in an effort to bring them into the light and crack down on money laundering in the industry. The new Deposit and Consig...
The Bulgairan Economy – Forecast
The Bulgarian economy will continue sinking in 2010. The decrease of the GDP will be of 1%, according to the Agency for Economic Analysis and Forecasts. For 2009 the expectations are of a significant decrease of the GDP of 6.3%. Bulgaria will b...
Commercial Property In Bulgaria
In the first half of 2009, the worldwide recession has had its effect on the market of commercial property in Bulgaria – the number of frozen and delayed projects of shopping centres and malls. Among the frozen projects in Sofia are Euro Park ...
Banned Construction In Forests
The construction of buildings in the forests will stopped with a moratorium on the change of the purpose of exchanged land formerly belonging to the State Agricultural and Forestry Fund, according to the new Bulgarian Minister of Agriculture Miroslav...
Dead Zone Hotels
5% of the newly built hotels will become ‘dead zone’ within 10 years – abandoned hotels with stolen windows, doors and tiles, hanging cables and no roofs, according to analysts. At the moment 20% of the hotels in Bulgaria are close...
Bulgarian Property Market
The number of purchases of property in Bulgaria has decreased sharply according to analysts. In the first six months of 2009 in comparison with the same period of last year the number of property purchases has decreased on average by 42% for the coun...
Office Rentals
Office space, shops and industrial space are rented on average for 5 years in Bulgaria. In case of contracts with longer term, the rent is lower than the average and the tenants secure the use of the office for a long time. On the part of the owner...
Bulgarian Property Market
The average decrease of property prices in Bulgaria is by 23% in the first six months of 2009. There are areas of the country and especially cities where due to overpricing, now the decrease is exceeds 30%. The expectations of analysts are that ...
Houses on the Bulgarian Black Sea
The priceses of houses on the Black Sea coast in Bulgaria have fallen on average by 26% and in some cases they go as low as 200 Euros per sq m. However, the supply of properties for sale has dimished as only owners who need cash urgently sell. Th...
Sea Side Hotels For Sale
More than 70 hotels in the area of Varna, among them 4-star hotels in Golden Sands have been put for sale. Almost all of the hotels are open and operating, only a few are still being built. The small family hotels are predominating among them. All ...
The Construction Business - Statistics
The construction of new apartment buildings, offices, shops, roads and others has decreased by 11% in May 2009 in comparison with April 2009, according to the information of the National Statistics Institute based in Sofia. The sharpest drop is in th...
Property Prices Reach New Bottom
It is expected that the prices of apartments in Bulgaria will reach a new bottom at the end of this year and in the beginning of the next one. The analysts predict that the further decrease will be moderate and will not exceed 10%. The property p...
Major foreign investments in Bulgaria
Reuters Bulgaria has attracted 24 billion euros in foreign direct investment since 2005, when the Socialist-led government came to power, but the global crisis has hit the flows and put an end to the credit-fueled economic boom. Economists say Bulg...
The Bulgarian Banking System
59.8 billion levs have been held in Bulgarian banks in May 2009 which is a decrease by 437 levs, according to the Bulgarian National Bank (BNB). This is the second most serious decrease of the amount of money in the Bulgarian banks since the beginn...
Office Rentals
Office rent in Sofia has decreased in comparison to the end of last year and at the moment is between 10 and 15 Euros/sq m. The decrease is due to mainly two reasons. Firstly, the economic recession and secondly, the highest number of new offices for...
Ex-pats
The ex-pats who have moved to the Bulgarian Black Sea coast are selling their properties and leaving Bulgaria in great numbers. They have lost their hope to make a profit by renting their apartments. They offer their properties for sale at prices whi...
Bulgarian Property Market - Overview
The direct foreign investment in construction and in properties in Bulgaria in the first quarter of 2009 was 208 million Euros which is a decrease by 59.3% in comparison to 2008 whe it was 511.2 million Euros. In the first half of 2009 the prices...
Internet Sale of Repossessed Properties
Until now the information about repossessed properties offered at auctions was only available at the offices of the private judges, in the municipalities and the in the regional courts. Often this information which had to be available a month before ...
Vitosha Boulevard
Vitosha Boulevard in the Bulgarian capital Sofia dropped out of the top 50 most expensive streets in the world. The boulevard is in 53-rd place with an average rent of 120 EUR/ sq m. The rent in all locations around the world have dropped in th...
Property Prices
The property prices in Bulgaria at the moment are at the real market value according to analysts. Nevertheless it is still difficult to predict when they will start growing. The most popular property among buyers in Sofia is the one-bedroom apart...
Bankrupting Hotels
According to the State Agency for Tourism (DAT), three-four hotels go bankrupt every week in Bulgaria. They are unable to re-pay their mortgages. Many hotels are put for sale but there are no buyers and banks repossess them but it remains unclear if ...
Bulgairan Property Market
The property market in Bulgaria was in complete collapse for about six months but from mid-March the first signs of awakening have appeared. The decrease in the prices of the properties for sale is already a fact. In the last two months sellers s...
New Apartments
From the end of 2008 the number of new buildings in Bulgaria has decreased by 432 and the number of the apartments in them has decreased by 42.8%. The greatest number of new apartments still are completed on the Bulgarian Black Sea coast. Only in Bur...
