Shortage of Homes in Central and East Europe

Bulgaria ranks in Top 3 of countries with the most property owners - 91% of the households own the estate, they live in.

Higher is the percent only in Croatia (92%) and Romania (96%).

The quality of the real estates, though, is still quite low and far behind the average standard of the West European countries, because most of the homes (round 70%) have been built in the period 1945 - 1990.

Africa Israel unit gets credit for Bulgaria project

Israeli conglomerate Africa Israel Investments (AFIL01.TA: Quote, Profile, Research) said on Sunday its subsidiary AFI Europe signed an accord with Investcredit bank for 59 million euros to finance the Business Park Varna project in Varna, Bulgaria.

The cost of acquiring the property and three existing buildings was 76.5 million euros ($118.3 million), the company said.

Business Park Varna, located near the Varna airport and the Black Sea, includes 35,000 square meters of office space as well as another 15,000 square meters under construction.