Bulgarian banks go cold on loans for overdeveloped resorts -consultants
Bulgarian banks have started introducing stricter requirements on applicants seeking loans to buy property in Bulgaria's bigger resorts, including Bansko and Slunchev Bryag (Sunny Beach), over worries that these locations faced overdevelopment, credit consultants said, as quoted by investor.bg on June 30.
Foreign nationals interested in buying property in Bulgaria and applying for loans from local banks were increasingly being asked to show their credit history for a period of up to six years, the website quoted Tanya Yakimova from Bulgarian Home Loans, a British consultancy firm that focuses on advising foreigners.
Most of the property deals in Bulgaria's best-known resorts involved foreigners, most of whom treated it as an investment, which made banks wary because of the numerous announced developments, Yakimova said, as quoted by investor.bg.
Bulgarian Home Loans is one of the six lending consultancy firms that have agreed to form an association of credit consultants in Bulgaria, announced also on June 30.
The association, whose members claim to have a combined 80 per cent market share on the segment of advising individual clients, was created to help spread credit consultancy services, but also to lobby for a regulatory foundation to their business, lev.bg reported.
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Thursday, August 28 2008
Expat of the Week
jgidd
I'm primarily a "Musical Man" who writes folky or psychedelic songs in English and some in Bulgarian ... read more
What`s on in Bulgaria
Cultural Institutes
DANA KYNDROVA, LIBUSI KYNDROVA, OCCUPATION, NORMALISATION, WITHDRAWAL What: A joint exhibition of photographer Dana Kyndrova and her mother, Libusi, remembering the occupation of Czechoslovakia by the troops of the Warsaw Pact forty years ago. When: June 30 to September 19 Where: the Czech Centre, 100 Rakovski Str, Sofia
Art
GERMAN COLLECTION What: This general exhibition presents works by German painters from the first half of the 20th century. Executed in the style of classic German painting, the selection presents authors such as P. Pralke, H. Zeitsser, Eggert, and Arnold Baur, among others. When: Until September 20 Where: Viga Gallery, 100 James Bourchier Blvd, (Kempinski Hotel Zografski), Sofia
LIKE MOTHER, LIKE DAUGHTER – ANI KARALAMBEVA AND NIYA ABRASHEVA What: Drawing on her experience and expertise as a long-time textile designer, Ani Karalambeva collaborates with her daughter Niya Abrasheva to create beauty in the ever-saturated world of fashion and interior design. The exhibition presents mixed media wall pa When: Until October 8 Where: Azza Gallery of Modern Art, 25 Cherni Vruh Blvd, Sofia
IN PETAR ALEXANDROV’S SCULPTED WORLD What: For inspiration to create his delicate sculptures, Petar Alexandrov has looked to the artisanship of Bulgarian ancestors, feminine beauty and one imaginary dimension inhabited by mythological creatures. In his sculptures, Alexandrov tries to capture the s When: Until September 10 Where: Minerva Gallery/Grand Hotel Sofia, 1 Gourko Str, Sofia
Sofia City Hall to ban construction in Studentski grad.. 
Cultural Institutes
Art