02.06.2008 Agricultural Land Up by 50%

Dir.bg

In the last three months the price of agricultural land in Bulgaria has increased by 50%. The investors’ interest toward the summer and winter resorts is growing weaker and a lot of funds are being directed to the purchasing of farming land. This is the explanation the experts give for the sharp rise in the prices.

Up to now agricultural land remained somewhat aside from the real estate price hysteria that seized the big cities. However, in the last few months the price of these plots of land suddenly shot up. At the moment the most expensive land is sold in north-eastern Bulgaria and the cheapest – in north-western Bulgaria. The only area where prices are stable is Dobrudzha, as the price of land there is expensive.

If you have a small plot of land which does not bring you any income it is better to sell, experts advise. But if you have a lot of land in one area then you are advised to wait. The forecast is that in the next decade or so agricultural land will go up gradually by about 10-20% on an annual basis.


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