Latest Property, Travel and Investment news from Bulgaria.

Construction in Bulgaria's Bansko stops on January 1st 2007

Tue 07 Nov 2006 - Source: Sofia Echo

Construction in Bansko winter resort will cease starting January 1 2007, until all urban planning is completed. Afterwards construction would be permitted only in certain areas, Bansko mayor Alexander Kravarov told Darik Radio.

Nearly 300 construction permits were issued in Bansko in 2005 and 2006 and a number of additional applications were received, said Kravarov.

Currently a sq m of property in Bansko costs 200 euro and once planning was completed prices were expected to increase by 20 per cent. Law enables temporary construction halts, while planning is underway.

Bansko's infrastructure was not posing major problems, Kravarov said. Over-construction was the main negative development that the resort was experiencing, said he.