From January 1st, citizens from Great Britain can no longer acquire land (including agricultural land and forests) in Bulgaria except by inheritance. The reason for the ban is that they have the status of third-country nationals for the European Union as a result of Brexit. The ban does not affect past cases, as well as the purchase of other real estate (apartments, houses, etc.).
The epidemic situation made many people think of their rural properties, and some even chose to relocate and work from there. The question is will this trend continue after the coronavirus crisis is over? Thousands of people have returned to their village homes hoping to protect themselves from the coronavirus. These are mainly the elderly, who fall into the most at-risk group, as well as people with freelance professions who have houses in the countryside.
The registration of wells, boreholes and other groundwater facilities in private properties will be extended due to the pandemic. The aim is to avoid the movement and collection of people in front of the counters of the basin directorates. Initially, the deadline was November 27th 2020 but the parliament adopted the decision to extend the deadline to November 28th 2022 at a first reading today.
All property owners who have wells, boreholes, drainages and other facilities for groundwater extraction in their properties have to register them with the respective basin directorate. The registration is mandatory and the deadline is November 27, 2020.
More good news for Bulgaria and again a demonstration that Bulgarian real estate is a very worthwhile investment to base your small to medium enterprise (SME) in Bulgaria.
Bulgaria is now ranking in 2nd place within the European Union in relation to the “debt-to-GDP ratio”, which is a recognised economic indicator of the health of a country’s economy, according to data supplied by Eurostat. In the third quarter of 2012 the correlation between debt and Gross Domestic Product (GDP) was 18,7%.