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Three buyers bid for a plot in the Dobrudja region
Date: 25/08/2010
Three buyers bid for a plot in the Dobrudja region

The demand for land in the Dobrich region considerably exceeds selling offers this summer but the reason is not only the relatively high price of wheat, the Regional Association of Real Estate Agencies (RAREA) claims, BTA (Bulgarian Telegraph Agency) reported.

“At least three potential buyers bid for a land plot,” said Nelly Vassileva, manager of a real estate agency. According to her, agriculture in the region has not been affected by the economic crisis, landowners get pretty good incomes from land rents, while deals in arable land, unlike the purchase of flats and villas, are not credited by banks and do not register large margins.

“Natural persons with free financial resources have been active players on the land market alongside tenant farmers in recent months. Most often, they want to buy some 50-150 dca of land,” said Pavlina Todorova from RAREA.

Affluent citizens from Sofia find it more profitable to invest in land rather than deposit their money in a bank at a low interest rate or buy a villa. “Any owner might be swindled with the rent for an apartment. Moreover, this kind of property wears out and needs investments for repairs, and taxes must be paid. Land is virtually eternal, brings good incomes and tenant farmers no longer dare to evade the law,” says Todorova, who is also a manager of a real estate agency. According to her, demand is highest in the region of Balchik where deals are closed at prices ranging from BGN 350/dca to BGN 700- 800 /dca.

Topic: Economy

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