[canada dry]

A recent article suggests that there will be a property crash in Bulgaria which will start to kick off in May. The arguments are the same and could be argued as being 'old hat' - continuing lack of foreign interest, low economic growth and the rise of unemployment, which is affecting the rest of Europe as well. However one factor that is often over looked is Bulgaria's constuction industry has almost ground to a halt. Read any Bulgarian newspaper article which features property news and you will find that the only building projects that are in the pipe line are for big shopping malls in the larger cities like Sofia and Plovdiv. http://www.hiday.net/forum/list.php?2

[Spongebob]

Overseas investors can not borrow any money at the moment either which has to be a factor. We all know how the Brits like buying in Bulgaria and now that they cant get finance are pulling out of deals.

[Caribbean Beauty]

For a moment there I was pleasantly surprised to see Canada Dry's first ever non overseas property ramping post - only to be disappointed once again at his greed and vanity when I saw, yet again, that he has published a link back to his rather forlorn and amateur home-made website.

Oh well.

[canada dry]

Caribbean Beauty, on Feb 23 2009, 09:32 PM, said:

For a moment there I was pleasantly surprised to see Canada Dry's first ever non overseas property ramping post - only to be disappointed once again at his greed and vanity when I saw, yet again, that he has published a link back to his rather forlorn and amateur home-made website.

Oh well.

Vain, perhaps. Greedy, a little unfair, there are House Price Crash banners in place on Hiday website, so there is a reciprocal link. Point taken though, must not always use a link back to Hiday.net. Will use this feature more sparingly in the future.

[alabala]

http://www.iii.co.uk...;action=article
SOFIA, Feb 26 (Reuters) - Bulgaria's central bank eased some of its rules for provisioning of bad loans to let commercial banks be more flexible in times of global economic crisis, it said on Thursday.
Under the amendments, banks will now be obliged to set aside funds to fully meet risks of losses stemming from loans which had not been serviced for 180 days, up from 90 days at present.
"We have imposed very rigorous rules on provisions during the credit boom several years ago," deputy governor Rumen Simeonov told Reuters. "As this is no longer necessary, we are bringing the rules to their previous level".
About 80 percent of the 30 commercial banks operating in Bulgaria are foreign-owned, with the biggest lenders run by Italy's UniCredit, Hungary's OTP, Greece's National Bank of Greece and Austria's Raiffeisen .
None of the banks operating in Bulgaria have asked for state aid so far and the central bank says the banking system is healthy.

http://www.cnbc.com/id/29343300
VIENNA, Feb 23 (Reuters) - Raiffeisen Zentralbank (RZB), owner of Raiffeisen International, will have finalised negotiations over a state capital injection of 1.75 billion euros ($2.20 billion) within a month

Rothensteiner said Raiffeisen International would emerge as a winner once the financial crisis was over. "This phase will be over at some point, even if not before 2010. And then we will be top in markets with huge potential," he said. "We already experienced that once before in Russia. After the currency crisis in 1998 we were the only ones to stay there ... this was very good for us."

http://uk.reuters.co...T45469920090129
FRANKFURT, Jan 29 (Reuters) - Italian bank UniCredit SpA (CRDI.MI) could consider state aid, maybe in Austria, Chief Executive Alessandro Profumo said in a Handelsblatt newspaper interview.

This post has been edited by alabala: 26 February 2009 - 08:44 PM