18.01.2007 AGRICULTURAL LAND MARKET NEAR BULGARIA'S CAPITAL BECOMING MORE ACTIVE

Property Wise Magazine

The market of agricultural plots located in the region of Sofia has been experiencing active development over the past year, Agriculture Ministry representatives told a press conference.
The number of deals concluded increased by five per cent for 2006 as compared to figures for the previous year. Most deals were finalised in the area of Elin Pelin, close to Sofia. Nearly 50 per cent of the Elin Pelin land areas have been sold.

In 2006, 107 deals involving agricultural land were concluded in the Sofia region, Focus news agency reported. The total number of transactions for 2006 reached 92 0000.

Deputy Agriculture Minister Svetla Buchvarova predicted stagnation in agricultural plot sales in 2007 and more dynamics in rent policies.

Prices were expected to remain unchanged in 2007, Buchvarova said. In some regions, where prices were lower in 2006, the price increase could reach 10 to 15 per cent, said Buchvarova as quoted by Bulgarian news agency BTA.

Agricultural land in Bulgaria was four to five times cheaper than the one in other EU countries. Prices were going to become similar in three to four years, Buchvarova said.


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