09.8.2007

Bulgarian army lists Razlog properties for sale

The Bulgarian defence ministry is set to rejuice the real estate market in the booming Razlog area which had been drying up fast.

The army has put up for sale no less than three sizable properties in this city located in South-western Bulgaria at an altitude of 812 m.

The first listing, posted on the site of the Defence Ministry State Property Agency (DSMO) (www.dsmo.bg), is for a 6.4 ha property valued at 8.099 mln levs without taxes. The site contains a total of 22 buildings.

Bidding for a second identically sized property comprising 20 buildings will start at 8.579 mln levs without taxes.

The area of the third property is 4.35 ha with the guide price set at 6.321 mln levs without taxes.

The DSMO said there has been moderate buyer interest towards the listings. Potential bidders should notify their participation in the auctions by August 21. The properties can be surveyed until August 20.

The rules for the disposal of military properties provide an option to schedule a new auction at a lower asking price if there is no buyer interest.

Razlog has been nipping at the heel's of nearby ski resort Bansko in terms of property development over the past couple of years.

The potential of the Razlog area got a significant boost from the decision of the municipal council to approve no less than seven golf resort projects in the vicinity. The asking price of properties adjacent to the golf developments immediately shot past 100 euro/sq m.

Soursе: Dnevnik a.m.