Bulgaria's Burgas Airport Opens New Passenger Terminal

A new passenger terminal of Burgas Airport was officially inaugurated Friday marking Bulgaria's Aviation Holiday. The Transport Minister Petar Mutafchiev spearheaded the opening ceremony of the facility, which is to increase the airport's capacity by over 40%. The net investments in Terminal 3 as part of the concessionaire Fraport Twin Star Airport Management's program, stand at some BGN 7 M. The new terminal has been fully equipped with modern facilities including such for disabled people. "No Bulgarian air carrier entered the EU's black list, which means the evaluation of the aviation administration is positive," underlined Minister Mutafchiev at the official opening ceremony.

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source: bulgarianpropertiesmarket.com

Manowar Plays Bulgaria's Anthem to Thank Fans

US heavy metal band Manowar announced they will play Bulgaria's anthem during their gig in Bulgaria's seaside town of Kavarna, 30 kilometers northeast of the port of Varna. The band headlines the third and final day of the annual Kaliakra Rock Festival on June 30. More than 10,000 people are expected to gather at the stadium in the town. "The Bulgarian anthem is fantastic and when played with a symphony orchestra fits perfectly our style," singer Eric Adams commented, adding that this is a gesture of gratitude to their fans in Bulgaria. There are more surprises in store for Manowar fans, one of whom will leave Saturday night gig with the keys of a new car and another with a guitar.

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source: bulgarianpropertiesmarket.com

Bulgaria Cracks down on Speeding Drivers

A new set of tougher sanctions for exceeding speed limits came into effect in Bulgaria on June 30. With nearly 500 people killed in crashes since the beginning of the year, debate has been raging about how to save lives. In the latest move, the parliament vowed to crack down on speeding drivers and increase fines to improve road safety. The amendments to the road traffic legislation that the MPs adopted earlier in the month provide for a BGN 350 fine and stripping of the driving licence for three months for drivers who violate by 50km/h the speed limit in populated areas. Drivers who are caught in drink-drive with blood alcohol exceeding 0.5 promiles will be imposed a BGN 500 fine and they will be prohibited from driving for a year. If the driver fails to pay the fine within a month, a new fine of BGN 50 will be slammed. Under the freshly adopted legislation taxi drivers are allowed to drive without safety belts.

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source: bulgarianpropertiesmarket.com

Thousands Bulgarians Hail the Sunrise Hippy-Style on July Morning

Thousands young people gathered at Kamen Bryag village on the Black Sea coast, the traditional location for the hippy-style celebration of hailing the sunrise, known as July Morning. The tradition dates back to the hippy period in the 1970s and 1980s and originated as a protest against the restrictions of the communist regime. Nowadays this meaning is lost but the sun worship as a symbol of a new beginning in life motivates young people to keep the tradition alive. As the name suggests, the anthem of the celebrations is British rock band Uriah Heep's 1972 hit July Morning. This year July Morning was marked with a concert of Uriah Heep vocals John Walden and Bulgarian rock band BTR. The tradition begs for associations with the sun worship of Peter Dunov followers, who hail the sunrise at the Hill of Prayers in the Rila mountian, which they consider to be a divine mystery.

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source: bulgarianpropertiesmarket.com

Bulgaria Still Best for Overseas Property Investment

Bulgaria has been named the best destination for overseas property investment, even though its tourist hotspots are showing signs of overheating, according to a new research. UK ranks as the best for investment returns with Bulgaria second, says the quarterly investment tracker, released by British investment firm Assetz. Making up the rest of the top five are Canada, Cape Verde and Cyprus respectively. Bulgaria maintains a strong position in the tracker with a total of 71% return on cash invested, but Assetz advised caution to investors, especially in the tourist hotspots such as Sunny Beach and Bansko where there is a severe oversupply of apartments. Local agents are reporting a lack of demand resulting in weak rental yields being achieved and the resale market is still unproven, the company said. However, average prices have increased from 17.3% to 22.5% annually in June 2007, possibly due to a number of ‘prestige' developments coming onto the market. Assets commented that the rate of growth in many countries, such as Poland and Bulgaria, could not continue at a rate of 20 - 30%, and a reduction to a more stable and realistic rate of growth was necessary.

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source: bulgarianpropertiesmarket.com