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Agricultural Land Prices In Bulgaria Up 50% in The Past Three Months
www.profit.bg, 06 Jun 2008
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Agricultural land in Bulgaria has appreciated by some 50% in the past three months, the Bulgarian National Television is reporting. Investors' interest in the country's winter and summer resorts is fading and shifting to agricultural plots, which has caused the surge in prices, experts say.
Until now, agricultural regions were remaining somewhat isolated from the booming real estate sector, but interest in them has soared in the past several months. Such fluctuations are not very healthy for the market, analysts warn.
The prices are so attractive, that many land-owning funds are considering selling.
The most expensive area right now is the Northeast with an average price of around 410 leva per decare. The cheapest is the Northwest with an average of 270 leva/deacre. In the Southeast and the North central region the price is around 315 leva/deacre. Prices in Dobrudja are not changing at all – land there has always been very expensive.
If you own a small parcel that does not bring any income to your family, you should consider selling, experts are saying.
Analysts forecast that in the next ten years agricultural land will gradually appreciate by an annual 10-20%. Sharp rises may be seen on the black Sea Coast, where the prices are currently falling and the hotels are selling off plots.
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