60 million euro investments in the coastal town of Byala.
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Private capital for over 60 million euro has been invested in the coastal town of Byala near Varna in 2006. The number of the planning permissions issued is 90 for the construction of about 119 000 square metres living area. Most of the investors are companies from Bulgaria, Russia, England and the Middle East countries. Their interest is not just about Byala but includes the nearby villages as well. In the mean time The “Industry Watch” published their forecast report "Ready for Business 2007". About Bulgaria they have claimed in it that "investment in housing will keep its return a bit over other European markets”. At macro-level they expect that average housing prices will jump at a pace close to the rise of incomes, or in the range of 12-15 percent. |
