Charlotte
17-02-06, 08:27 AM
The price of land in Bulgaria has drastically increased because of the oncoming accession of the country into the European Union. The number of deals with farmland has increased by twenty percent. The Bulgarians are hurriedly buying real estates in the hope of selling them at a profit after the EU accession.
Investing in land has also become the priority target of several investment funds. In 2005, the concluded deals with farmland totaled 66,345; 59,434.9 ha of farmland changed their owners last year.
"The demand for land in Bulgaria far exceeds the supply," reads an analysis of the market, made public by Svetla Bachvarova, Deputy Minister of Agriculture and Forestry.
"Many farmers are now seeking to buy land because of the EU subsidies, which they may receive the next year," she says.
http://www.standartnews.com/archive/2006/02/17/english/
The price of farmland is expected to go up by 30-40% because of Bulgaria's forthcoming EU entry, sources from the Ministry of Agriculture informed. These forecasts have led to considerable movement on the real estates' market - people are in a hurry to buy land cherishing the hope that after a certain period of time their investments will pay back and bring them a considerable profit.
At present the price of 100 ha of farmland varies from 109 levs to 224,000 levs. The land in northwestern Bulgaria is the cheapest, because it could be used for farming purposes only. The most expensive are the fields which could be turned into construction sites. Last year a client paid 224,000 levs for 100 ha of farmland in the mountain resort of Bansko (southwestern Bulgaria), because he intended to build a hotel there.
Experts forecast that the investors' interest will continue to grow and this will fix the high rates of the farmland in Bulgaria.
Boryana Kolchagova
Investing in land has also become the priority target of several investment funds. In 2005, the concluded deals with farmland totaled 66,345; 59,434.9 ha of farmland changed their owners last year.
"The demand for land in Bulgaria far exceeds the supply," reads an analysis of the market, made public by Svetla Bachvarova, Deputy Minister of Agriculture and Forestry.
"Many farmers are now seeking to buy land because of the EU subsidies, which they may receive the next year," she says.
http://www.standartnews.com/archive/2006/02/17/english/
The price of farmland is expected to go up by 30-40% because of Bulgaria's forthcoming EU entry, sources from the Ministry of Agriculture informed. These forecasts have led to considerable movement on the real estates' market - people are in a hurry to buy land cherishing the hope that after a certain period of time their investments will pay back and bring them a considerable profit.
At present the price of 100 ha of farmland varies from 109 levs to 224,000 levs. The land in northwestern Bulgaria is the cheapest, because it could be used for farming purposes only. The most expensive are the fields which could be turned into construction sites. Last year a client paid 224,000 levs for 100 ha of farmland in the mountain resort of Bansko (southwestern Bulgaria), because he intended to build a hotel there.
Experts forecast that the investors' interest will continue to grow and this will fix the high rates of the farmland in Bulgaria.
Boryana Kolchagova