The RE/MAX International real estate franchise system has expanded its reach to Bulgaria, the company said today.

RE/MAX Bulgaria has been purchased by George Petrov and Ilyan Nikolov, and becomes the 58th country for franchising of the global real estate network. Both are natives of Bulgaria and will serve as co-regional directors of the new operation. The two were partners, operating a construction business when they discovered RE/MAX.

“In the last few years the real estate market in Bulgaria indicates phenomenal growth,” said Petrov. “Major international and local agencies are emerging on the Bulgarian market, therefore we decided it is time for us to apply our abilities in this field. We are looking forward to becoming part of the big RE/MAX family.”

Located in Southeastern Europe, bordering the Black Sea, between Romania and Turkey, The Republic of Bulgaria gained complete independence on Sept. 22, 1908. With a population of nearly 7.5 million, it is a parliamentary democracy whose strategic location near the Turkish Straits means it controls key land routes from Europe to the Middle East and Asia. The capital city is Sofia.

Bulgaria has averaged 4 percent growth since 2000 and has begun to attract significant amounts of foreign direct investment.

The RE/MAX franchise network is a global real estate system operating in 58 countries, with more than 5,800 independently owned offices and 113,000 member sales associates.

***

Send tips or a Letter to the Editor to jessica@inman.com or call (510) 658-9252, ext. 133.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
It's not too late to join us for Connect Now today. Participate in workshops, networking and more.REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription