The Interest in Bulgarian Rural Properties Increases

profit.bg, 02.05.10

There is high interest in Bulgarian rural properties – especially on the part of foreign buyers. This is what Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES – told profit.bg.

“Buyers look for houses at prices up to 10,000 Euro. Prices of rural houses dropped by over 50% in the course of one year and this stirred the buyers’ interest”, added Ms. Stoykova.

According to her “it is very important for the Bulgarian government to consider the canceling of the limitation according to which foreigners cannot own land as physical persons, especially when it is for a house with a garden or for an apartment with ideal parts of the land”.

”At present foreign property buyers must register a Bulgarian limited liability company in order to buy a property which is sold with land”, Polina Stoykova said.

Ms. Stoykova’s opinion is that the “rural property market is very important for stimulating local demand of properties on the part of Bulgarian buyers – a large part of rural house owners partially finance the purchase of a city property with the money they receive from selling their rural property. This means that if the rural property market is dynamic people would also buy more properties in the cities, as well as in the resorts around Bulgaria.”

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