Buy & Sell Bulgaria Insight Newsletter

By Novinite.Com

Yet another research has pointed Bulgaria as the country with the world’s strongest house price growth last year amidst a global cooling of the property market. The study carried out by Global Property Guide (GPG) said Bulgaria saw the world’s strongest house price growth at 30.6% (15.4% in real terms) to end-Q3 2007 from a year earlier.

Shanghai came in second, despite efforts by the Beijing government to cool the market. House prices there rose by 27,85 percent in 2007. The survey, which provides information for potential property investors, says that while the housing market gained momentum in the Asia-Pacific region, it slowed in Europe and “crashed” in the US.

In Europe most countries registered non-impressive y-o-y house price changes in 2007, except Norway and Estonia, shows the survey.

Ireland’s house price plunge continued, with a 4.68% y-o-y drop to October 2007. When adjusted for inflation, the drop is more pronounced at 9.1%. The Irish housing market is vulnerable to interest rate changes, as 85% of mortgages are with variable rate, GPG comments.

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There are many birthday boys and girls in February. Our dear colleagues Minko Kolev (Driver) and Megi Gencheva (Personal MD Assistant), our clients and good friends Doreen Potter, Carmel Apap, Heather Pruden and Grace Cooke, have their special day this month. We would like to wish them all Many Happy Returns and the best of luck!

It is our company policy to celebrate all Great Events!!!

As the end of the Bulgarian financial year is coming soon (31^st March 2008), we would like to remind you of the necessity to have the accountancy for your Bulgarian Limited Liability Company arranged. Please let us know as soon as you make your decision and if you would like us to file your company end-of year financial tax return, contact miro@eurolink-finance.com.

There are varying opinions as to the origin of Valentine’s Day. Some experts state that it originated from St. Valentine, a Roman who was martyred for refusing to give up Christianity. He died on February 14, 269 A.D., the same day that had been devoted to love lotteries. The legend also says that St. Valentine left a farewell note for the jailer’s daughter, who had become his friend, and signed it “From Your Valentine”. Other aspects of the story say that Saint Valentine served as a priest at the temple during the reign of Emperor Claudius. Claudius then had Valentine jailed for defying him. In 496 A.D. Pope Gelasius set aside February 14 to honour St. Valentine.

Gradually, February 14 became the date for exchanging love messages and St. Valentine became the patron saint of lovers. The date was marked by sending poems and simple gifts such as flowers. There was often a social gathering or a ball.

Valentine Traditions

Hundreds of years ago in England, many children dressed up as adults on Valentine’s Day. They went singing from home to home. One verse they sang was:

Good morning to you, valentine;
Curl your locks as I do mine —
Two before and three behind.
Good morning to you, valentine.

In Wales wooden love spoons were carved and given as gifts on February 14th. Hearts, keys and keyholes were favourite decorations on the spoons. The decoration meant, “You unlock my heart!”

In the middle ages, young men and women drew names from a bowl to see who their valentines would be. They would wear these names on their sleeves for one week. To wear your heart on your sleeve now means that it is easy for other people to know how you are feeling. In some countries, a young woman may receive a gift of clothing from a young man. If she keeps the gift, it means she will marry him.

Some people used to believe that if a woman saw a robin flying overhead on Valentine’s Day, it meant she would marry a sailor. If she saw a sparrow, she would marry a poor man and be very happy. If she saw a goldfinch, she would marry a millionaire.

Think of five or six names of boys or girls you might marry, As you twist the stem of an apple, recite the names until the stem comes off. You will marry the person whose name you were saying when the stem fell off.

Pick a dandelion that has gone to seed. Take a deep breath and blow the seeds into the wind. Count the seeds that remain on the stem. That is the number of children you will have. If you cut an apple in half and count how many seeds are inside, you will once again know how many children you will have.

The Employee of the Month for February 2008 is selected by our new Committee, consisted of Mr. Christopher Violaris, Managing Director of Eurolink Investment Group and Mira Atanasova, Head of Legal Department. Their first nominee goes to Miro Vladov, Executive Manager of Eurolink Finance and Deputy Managing Director of Buy & Sell Bulgaria.

Miro carries his work duties off with vigour in an enviable and pedantical way, having the needed qualities for development and elaboration. He is an incredibly good colleague, which gives you pleasure to work with in a team, always willing to help where he is needed.

Eurolink’s clients have already been convinced in his discipline, responsibility and professionalism in the execution of his tasks.

Thank you for being a part of our team Miro!

Name day for: Atanas, Atanaska (like our Atanas, night guard at Buy & Sell Bulgaria’s office, who also has a birthday). Happy Name day Nasko and Many Happy Returns!

On January 18 the Orthodox Church honors St. Atanasii The Great, who lived from 293/ 298 until 373. Atanas’s Day is a holiday connected with the New Year’s rites. According to the Christian beliefs St. Atanas is the ruler of snow and ice. Dressed in a silk shirt he ascends the mountain riding his white horse and exclaims: “Go away, winter, come again, summer!” That’s why this holiday is also known as the Mid-winter. Atanas’s Day is a holiday of the blacksmiths, ironmongers, cutters and shoeing smiths as well as a holiday of the illnesses. This day is observed to show respect to the pest and other contagious diseases, which are called with the taboo name “sweet and honey ones”. The winter Day of St. Athanasius is also known as Midwinter or the Pest’s Day. The second name is connected with the belief that the pest was born at that time. After the Day of St. Athanasius healers went to the villages to exterminate people. Therefore early in the morning each woman would bake a small flat loaf of bread and three small ring-shaped buns. The flat bread is decorated with two dogs, who are keeping the people from the pest.

On this day, Mr. Christopher Violaris, Managing Director of Buy & Sell Bulgaria, invited the Bishop of Varna, Kiril, to bless all offices of Eurolink Investment Group and its people, as well as partners and clients. Bishop Kiril wished us health and wellbeing and sprinkled holy water over our heads, as we kissed the Cross. He beseeched us to be good and do good and not just expect to receive and gain. God bless us all.

Ingredients:
Serves 2

2 medium size onions, chopped
2 garlic cloves - chopped
3 medium tomatoes peeled and chopped (or half tin chopped tomatoes)
chopped parsley
2 cleaned and boned mackerels or 1 carp
1/2 cup white wine
2-3 tbsp oil

How to cook:

Sauté the onion in oil for 5 minutes, add the tomatoes, wine, chopped garlic, salt and pepper. Simmer for 15-20 minutes. Spread 1/2 of the sauce evenly in a baking dish. Place the mackerels on top. Cover with the remaining sauce. Preheat oven to 190C and bake for 35 to 40 minutes.

Our stationary supplier, Office 1 Superstore, surprised us with a lovely and sweet gift, which we all attacked immediately and enjoyed.

In 1775 the Frenchman Chevalier visited Varna and described it as follows: “There are approximately 16000 citizens, 12 mosques, 2 churches and 1 bell-tower built 20 years ago, on top of which a clock with a bell can be seen…” From these diaries it becomes obvious that even back in mid XVIII century there had been a city clock in Varna. That clock tower was located in the green grounds behind the present theatre and it was also used by firemen as their watchtower. How did the tower look like, was it made of wood or stones? We don’t know. As we also don’t know when exactly it had been destroyed. It could have happened in the years of the 1828 siege of the city or in the fierce fire in Varna during the Crimean War.

The idea to re-build an impressive city clock tower was accomplished in 1888 at the time when Krastyu Mirski was mayor of Varna. Varna municipality assigned to architect Sava Dimitrievich the project of a stone fire tower with a clock that should be 24 meters high. The construction site was carefully chosen - the new clock tower in the city park and the Assumption Cathedral formed the city centre boundaries of those times. The same year Concordia theatre hall burned down and another hall for meetings and theatre plays was planned to be built close by the tower.

In two years’ time the new clock tower and Saedinenie (Union) Hall were ready and officially opened to visitors. Firemen used the tower since high buildings were still rare and from top of it they could watch over the entire city. At daytime they used coloured flags to signalize for fire and at night signals were exchanged by lit lanterns. Those fire prevention activities stopped in 1898, when the fire brigade was equipped with a telephone line. The clockwork was purchased from England and the prominent revolutionary Oton Ivanov fixed it on the tower.

Though it remains unrevealed to people’s glances, the clockwork itself is a real masterpiece. It is quite strange that contrary to traditions the name of the producing company was not inscribed on it. The whole system is fitted in a big wooden “box” reached by a narrow winding staircase along the stone walls. The dial-plate in front is used to control the pace of the clock, as well as to correct it. Each fourth second a system of axles and gears transmits the motion to the clock hands on the tower outside. Instead of springs used in contemporary clocks, this clockwork mechanism is driven by weights suspended in the middle of the tower. The winding up is performed by the help of a simple crank arm of a huge drum besides the main group of gear wheels, which winds the string with the hanging weights. Another axle transmits the motion to the bell knocker at the tower top. Till 1930 the bell had been measuring hours two times within an interval of one minute.

Gains in prices of residential real estate in Bulgaria’s 28 biggest cities and towns averaged 28,9 % in 2007 over the previous year, data of the country’s National Statistics Institute (NSI) showed. The average price paid for residential properties last year in the areas covered by the NSI survey was BGN 1091,24/m2.

Capital Sofia, which boasts the highest salaries in the country, remains the nation’s most expensive housing market with an average price of BGN 1813,17/m2, a 35,1% increase over the previous year.

The port city of Varna came in second, commanding an average price of BGN 1762,63/m2, up by 33,9% over last year. Third ranked the other major Bulgarian port, city of Burgas with average residential property prices at BGN 1442,08/m2, posting a 17,5% surge over the previous year.

The residential real estate in Sofia district bottomed the ranking with prices as low as BGN 488,14/m2, marking an increase by 18,6% compared to the previous year.

13/1/08, by Richard Payne

I had a wonderful festive Xmas and New Year with my friend in Sofia, Varna and my family in UK, which consequently lead to too many festive dinners, Xmas pudding and chocolates. With this behind us, it is time for a dreaded diet session.

On the last day in Sofia I had a meal in a restaurant with my good friend. He refused to believe I can diet to a target weight, so I wrote it down on a 50 Lev note and gave it to him. If I fail to achieve the target weight before next Xmas, he can keep it. This meant I had to keep away from nice restaurants around Varna until I discovered the Le Bacon Restaurant.

Le Bacon Salad Saloon is a new restaurant, recently opened, just before Xmas. As the picture shows: a stylish modern restaurant with comfortable atmosphere and large window facing. It is behind the blue tourist information office on a street which you can’t miss because it has a very attractive red light show outside.

While the menu is in Bulgarian, it offers a very wide selection of salads (about 40 of them) at a reasonable price. It includes pizza and pasta as well. My good friend ordered a pizza while I ordered a custom salad (chicken, bacon, cheese, etc). Taking a great care of my diet, I tried out his pizza slice and yum! yum!…it was most excellent! I was generally surprised how much I enjoyed the well presented fresh salad dish. The menu offers choices of roughly 50 different add-on bits which makes up custom salads of your desire. The wine and drink selection is comprehensive. I had a discussion with the restaurant’s friendly supervisor who promised to provide English menus in a few weeks time.

If you’re bored with the Happy restaurants or other fast food chains, I would certainly recommend this place as it offers much more choices. They’re of good value due to a balanced combination of presentation, price and low energy healthy food, which gives your diet a better chance to succeed!

Rating 9/10