Bulgaria Property at Premier Apartments.

Bulgaria Property Details

Bulgaria Property Land Opportunity

Land Opportunity

Location: Next to Plovdiv airport

Size: 80,000 Sqm

Estimated Reg: TBA

Price: 22 Euro per Sqm

Details: Site next to airport, railway and highway. Ideal for logistics centre.

Ownership of Property:

Current legal Position
Foreigners are allowed to own buildings in Bulgaria but they are not allowed to own the land. The simple solution is for property to be purchased through a Bulgarian company. Bulgarian law allows Bulgarian companies to be 100% foreign owned.

Resolution laws
In common with other Eastern European countries, Bulgaria made provision for the return of property to owners whose property had been confiscated during the communist era. Land restitution was finalised in 2000, and the process of restitution of agricultural land was completed in 2001. At the end of 2002, 92% of woodlands and forest land had been restituted. A land parcels register is being established, and the second phase of land reform, which is the consolidation of land, has started.

Additional Costs

Additional costs one may expect are as follows:
» Brokers fees of 2-3%
» Municipal taxes on land acquisitions of 2% of cost
» Notary and legal fees of around 0.5%

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