Registration Agency
Eurozone Entry: Implications for Bulgaria's Real Estate Sector
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone. The bustling market in Sofia, Bulgaria's capital, kicked off 2023 with a noticeable decline in transactions, hovering around 14%.
Bulgaria: The Russian Embassy has a Property Deed of the Russian Church in Sofia
The Russian Embassy in Bulgaria has a property deed of the Russian Church - this confirmed the verification of the Registration Agency. The notary confessed to he transaction in 1997, according to Lovech Metropolitan Gavriil. Metropolitan Gavriil added that neither the Sofia Metropolitanate nor the Holy Synod owns such property.
Bulgaria: Full Digitization of the Property Register to be Introduced Soon
The Council of Ministers approved a draft Law on Amendments and Supplements to the Law on Cadastre and Land Registry. It provides for the provision of full digitization of the property register maintained by the Registration Agency, by creating electronic batches of real estate and electronic batch files with the registered acts and the documents attached to them.
Construction and the Property Market with a Serious Jump in 2017
The real estate market continues to grow at a record pace in 2017, with the main reason being new construction. For the second quarter of the year, 207 building permits were issued for residential buildings in Sofia, an increase of 25% compared to the first quarter of the year and 10% compared to the same period in 2016.