Agricultural Land Prices Hovering At 20003000 Levaha

Prices of small land plots in Bulgaria vary between 2 000 and 3 000 leva a hectare, profit.bg reported.

Elana Property Management’s managing director, Vesselin Petrov, said that land prices have posted a 20 per cent growth last year, reaching 2 000–2 800 leva a hectare. Large plots of over 100ha could command prices of up to 30 per cent more, he added. Some offers in Dobrich region even exceeded 5 000 leva a hectare, Petrov said.

Advance Terrafund real estate investment trust (REIT) executive director Radoslav Manolov said that agricultural land has struck the 3 000 leva a hectare threshold, foreasting another 20 to 30 per cent price rise in 2008.

Agro Finance REIT manager Ognyan Kalev offered similar quotes for agricultural land, with plots under one ha selling at 2 600-2 700 leva a hectare, plots of 1-2ha commanding prices of 2 900-3 000 leva and plots of over two ha going for 3 100-3 200 leva per hectare. Lots bigger than five ha in size were negotiated separately. Kalev also forecast a 20 to 30 per cent land appreciation in 2008.

Mel Invest agricultural land fund’s executive Svetla Boyanova told profit.bg that land prices varied from 1 800 leva a hectare in less attractive regions and 2 500-3 000 in locations which enjoyed keen demand.  Plots in Dobrich region commanded as much as 4 000-4 500 leva a hectare, she added.propertywisebulgaria.com