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01.04.2009 Agricultural Land Deals in Bulgaria Up by 7 Percent in 2008
investor.bg, 31.03.2009

The agricultural land market in Bulgaria in 2008 was quite dynamic with 134,000 deals concluded for 1,374 million decares of land which is respectively 7 percent and 19 percent more compared to 2007. This is what the Deputy Minister of Agriculture and Food Svetla Bachvarova said at a conference while presenting a research of the state and development trends on the agricultural market in the country for 2007-2008.

The land sold for agricultural production amounts to 1,286 million decares as the increase compared to 2007 is 21.2 percent.

The research shows that in 2008 the average price of land intended for development of agricultural production was 312 BGN per decare which is 32.8% more than in 2007.

The trend for great price differences in the various regions around the country is kept. The lowest prices are to be found in Lovech and Pernik areas (respectively 201 BGN and 140 BGN per decare) and the highest are in the Dobrich area (546 BGN per decare).

For a second year in a row in 2008 the biggest number of land deals were concluded in the northern central area of the country – 37,856 deals for 360,903 decares.

2008 witnessed a decrease in the renting of agricultural land, the research shows. This is due to the fact that in 2008 and 2007 a great part of the tenant farmers and agricultural co-ops signed long-term contracts with the land owners – for over 4 years.

The arable land around the country amounts to about 29 million decares and the common pastures and grazing grounds are about 4-5 million decares. There are 2 million land owners in Bulgaria who own 20 million plots of land, the Deputy Minister added.

Agrarian Report 2008 says 2007 demand of agricultural lands exceeds supply

10 December 2008 Source: www.government.bg

In 2007, the farm market in Bulgaria was active and dynamic and the demand of agricultural lands exceeded supply according to the Agrarian Report 2008 approved by cabinet today. The tendency of a big price margin in the different regions was preserved, the prices in Shoumen and Haskovo remaining lowest at 1,800 Bulgarian leva per hectare, and the ones in Dobrich and Blagoevgrad highest at over 4,000 leva/ha. Typical for 2007 is that the North Central Region posted most sales rather than the North Eastern Region as usual. The 2007 gross agriculture production stood at 6,677.7 million leva at current prices, the relative share of crop raising was 38 per cent, the animal breeding amounted to 38 per cent and the agricultural services and inherent nonagricultural activities, 14.7 per cent. The gross added value of the agriculture and forestry sector was 2,883 million leva or 6.2 per cent of the gross added value of the country's economy. The entrepreneurship income in agriculture stood at 2,196 million leva for 2007. Foreign trade with agricultural goods had a negative balance of 140,653 US dollars. The priorities and objectives of the policy in the agrarian sector and the actions to be taken for their achievement, as well as the necessary funds are an integral part of the annual report on the state and development of agriculture. The top priorities of the Agriculture Ministry for 2008 include increasing of productivity and competitiveness of the agrarian sector under the conditions of EU membership; effective implementation of the Community policies for sustainable development of rural regions and fishery and aquaculture subsector, as well as exercising efficient veterinary and phyto-sanitary control for food safety and quality along the whole food chain. In 2009, the integration of Bulgarian farmers in the European market will require still more efforts to observe the good European practices, norms and quality production standards, safety for users and competitive production. The assistance for this country's farmers will  increase under the form of direct payments, market support and funds for development of rural regions. The Agriculture and Food Ministry will concentrate its efforts to provide conditions for the absorption to a maximum degree of the European funds for agriculture and fishery, in support of the processes of enlargement and modernization of production structures in agriculture and meeting the European standards of quality and safety.

03.12.2008 Tax Valuation of Properties Increases by 50 Percent
Ministry of Finance

The tax valuation of properties in Bulgaria is to increase by 50 percent in 2009. This is what the changes in the Law on Local Taxes and Fees proposed by the Ministry of Finance and adopted on second reading in the Parliament stipulate. What are to be corrected are the location coefficients which have the greatest weight in defining the tax valuation. What is taken into consideration is the location of the property – by category and zone, whether the property is within construction limits or outside them, whether it is in a holiday home zone and for industrial and farming properties – whether they are in an advantageous or disadvantageous position regarding the infrastructure. The increase in the valuation is done due to the increase in market prices of real estate and the lagging behind of the tax valuations. Meanwhile, property tax promilles will decrease and for the next year they are offered to be between 1 and 2 promilles (currently they are between 1.5 and 3 promilles). This means that the highest property tax will amount to 2 thousandths of its valuation. This way despite of the increase in the tax valuation the end sum property owners pay will not change, the Ministry of Finance claim.

18.11.2008 Autumn 2008 – The Rental Season
Polina Stoykova, BG

The rental market in Bulgaria, in contrast to the sales market where the pace has slowed down, marks a stable growth and increasing interest in the last few months, especially in the bigger cities around the country. The last two months - October and November, have witnessed a peak on the rental market. This, on the one hand, is due to the starting of the new school year and on the other – to the fact that more and more people prefer to rent an apartment than to take a mortgage loan. Forecasts show that the interest towards rents will continue to increase in the next couple of years.

08.11.2008 Vidin - Hidden Potential and Possibilities
Velimira Dimitrova, BG

In the last few years Vidin is turning from a town positioned at end of the list of the fast developing Bulgarian towns and cities into a place attracting more and more investments. The reason for that is not only the reviving economy in the town but also the beginning of the long-awaited construction of Danube Bridge 2 which started this year and is expected to finish in 2010.

The excellent economical and infrastructural development of the town, as well as the ever increasing investor interest towards purchasing real estate in the area turn Vidin into one of the main areas of focus in the country.

24.10.2008 Property Demand in Sofia: Residential Properties in Southern Quarters Still Most Sought
Polina Stoykova, BG

Autumn traditionally is the season in which the demand for real estate increases which is a fact even now, in the midst of a global financial crisis. What is typical at this moment is the slower conclusion of deals, the more thorough research on the part of the buyers and the higher requirements on their part regarding the quality of the property and the services offered by the real estate agents.

Here is what the data show regarding the demand of real estate in the for the period 15.09 - 15.10.2008 based on actual demand by potential clients.

82.4% of the potential clients are interested in residential properties in and the other 17.6% are looking for offices and commercial areas as the trend is this percentage to increase in the next couple of years.

• 29% of the potential clients are looking for a as most preferred are the properties located along Bulgaria Boulevard and in the quarters of Buxton, Borovo, Boyana, Dragalevtsi, Vitosha and Pavlovo.

• 15.5% are looking for which is the object of high demand.

• 13.2% are looking for residential properties as they do not have any preferences regarding the location and the parameters – what is most important to them is the price which shows that people continue to see the real estate as a profitable and low-risk investment.

• 11.2 % of the potential buyers are interested in buying like Studentski Grad, Dianabad, Izgrev, Mladost, Slatina and Reduta.

• 9% are looking for as a large part of them are looking for luxury and amenities as a reflection to their social status.

• 4.5% prefer the western quarters as the indisputable leader is the quarter of.

• 6.7% of the potential buyers are looking for.

• 5.5% are looking for shops, warehouses and commercial areas.

• 3.2% are looking to buy.

• 2.2% want to invest in other types of properties and properties close to Sofia.