Thomas Cook Adds 50,000 Airline Seats to Bulgaria

Travel company Thomas Cook will add more than 50 000 airline seats to the airports of Varna and Burgas in 2016, Bulgaria’s biggest Black Sea cities, media outlets report.

According to Greek English-language website Tornos News, there will be two flights a week between Burgas and Frankfurt and one connecting Burgas with Rostock, Leipzig and Berlin respectively.

To Varna, there will be three additional connections per week from Frankfurt and two from Cologne/Bonn, Hannover and Leipzig. A new weekly flight will also be executed from Düsseldorf, Hamburg, Nuremberg, Paderborn and Stuttgart.

Sun Express, Germania and Bulgarian company Air Via will be Thomas Cook’s flight partners.

A German weekly specialized in tourism recently said that Bulgaria “has turned professional” as a tourist destination, with a Thomas Cook official calling the country “exceptionally attractive” to young and family visitors alike

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Airport Parking, Sofia

Park & Fly Sofia were the first company in Mainland Europe to offer investors the opportunity to invest directly in commercial airport parking. The company has reported that demand for the first phase far exceeded expectations and that further phases will be launched in 2016.

With a guaranteed annual income of 7% for the first 2 years and long-term expectations in the 9-12% range, yield seeking investors have seized the chance to earn money while others travel.

The numbers from Sofia Airport speak for themselves. With 3.8 million travelers in 2014 and 1,200 car parks the parking situation is dismal. Sofia also has the 4th highest number of cars per capita in the European Union at 546.4 vehicles per 1,000 people. Compared to Scandinavian peers, Sofia Airport has more than 15 times fewer parking spaces per passenger than Billund!

Airport Passengers (2014) Parking Spaces Passengers per Parking Space
Billund 2,829,507 13,300 212
Torp 1,762,848 2,330 756
Gothenburg 5,216,011 10,000 521
Sofia 3,800,000 1,200 3,166

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The Bulgarian Property Market in 2016

Lawmaker proposes ban on Turkish real estate for Russian citizens – provides a strong indication of times to come. We doubt any law will actually be passed, however the 10’s of thousands of Russians who are currently considering purchasing property in Turkey must be getting cold feet. Add the thousands who were considering purchasing property in Egypt and a market opportunity arises.

Several facts point to increased Russian demand for Bulgarian property:

  • Language and culture
  • Visa requirements
  • Price

Average prices have already been increasing during 2015 and this extra demand will without doubt put more pressure on the market. Time will tell how this pans out.

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Bulgaria Leads in Rise in Commercial Property Sales in EU in 2014

Bulgaria posted the biggest rise in sales of commercial real estate in the EU last year, a new study has shown.

According to the latest edition of Cushman & Wakefield’s International Investment Atlas, commercial properties worth USD 286 M (EUR 254 M) were sold in Bulgaria last year, an increase of 226% over 2013.

The statistics cover sales of offices, hotels, industrial properties, retail centres and land designated for construction purposes

The annual study covering property markets in 62 countries in the world has been presented in Sofia by Forton International, the strategic partner of Cushman & Wakefield for Bulgaria and Macedonia.

The recovery of the commercial property market in Bulgaria had accelerated in 2014 led by a rise in demand and occupancy rate in the segments of office and industrial properties, Forton CEO Michaela Lashova commented.

This in turn led to a rise in investors’ interest in launching new projects as well as acquiring existing commercial properties that operate and generate revenues, she added.

Investment activity in the commercial property sector in Bulgaria is expected to remain high this year, depending mainly on the economic growth in the Eurozone which is the country’s biggest trade partner.

Domestic investors will remain the key driver of sales growth in Bulgaria’s commercial property sector, while the share of foreign capital will increase mainly in transactions for buying land for construction purposes and launching new projects or restarting frozen developments.

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New terminal opens

Bulgaria’s Varna Airport is opening a new passenger terminal on Thursday, August 15. The investment in the project and the related infrastructure exceeds 75 million leva (about 37 million euro),

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Bulgaria’s Best for a Cheap Trip

Bulgaria is best for Britons who do not want to break the bank on a hotel trip abroad, according to cost-comparison figures.

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Concessionaire in Bulgaria’s Pamporovo Resort to Expand Ski Runs

Pamporovo AD, the concessionaire in Bulgaria’s mountain resort of the same name, has requested a permit to expand the ski runs, according to Marian Belyakov, CEO of the company.

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New terminal opens at Varna Airport

Bulgaria’s Varna Airport is opening a new passenger terminal on Thursday, August 15. The investment in the project and the related infrastructure exceeds 75 million leva (about 37 million euro), concessionaire Fraport Twin Star Airport Management said

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