Bulgarian Parliament extended the moratorium on the purchase of land by foreigners until 2020

08.12.2013 01:00
Articles about real estate |  Bulgarian Parliament extended the moratorium on the purchase of land by foreigners until 2020 The solution proposed by the coalition "Attack", supported 171 MP. 38 people voted against, and 12 abstained. Discussion on this issue lasted for several months. A ban on the purchase of land by citizens of other EU countries had to be canceled January 1, 2014 . Removing this restriction was one of the conditions under which Bulgaria joined the organization in 2007.

Bulgarian President Rosen Plevneliev criticizes extension of the moratorium : "The decision , which was adopted , is flawed and creates a negative image of the state . It would alienate investors, and it will pay for the Bulgarian taxpayers . For such solutions the EU has provided a procedure penalty. Unproductive and bad, when the state waives its priorities and signature of the supreme body , namely the parliament. This gives a figure around the world and the EU, we do not comply with international obligations . "

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According Volena Siderov , leader of the " Attack" , one of the reasons why the moratorium was extended , is that agricultural land in Bulgaria are 10 times cheaper than in other countries. In Bulgaria 3.7 million hectares of arable land total value of 16 billion leva (about 8 billion euros). Politician calls them "the last asset is not sold out for a pittance ."

As stated Colors Karayancheva , MP from the party "Citizens for European Development of Bulgaria", the sale of land to foreigners should be a ban as long as possible . According to her, Bulgaria - is not the only country where such restrictions exist : in Spain, foreign investors may own no more than 15% of land , and in Belarus , China, Estonia and imposed a complete ban on the purchase of land by foreigners.

Anton Kutev , the representative of the left movement , advocates that even after the expiration of the moratorium the right to purchase the land had only Bulgarian citizens of countries outside the EU. However , according to him, there is a gap in the law , as farmland even now can get anyone who has registered in the country a legal entity.

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Content tags: Overseas property
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