Land Restrictions Lift

The Bulgarian parliament has voted to lift land restrictions preventing foreigners from owning land in Bulgaria. The legislation brings Bulgaria into line with EU requirements ahead of membership in 2007.

The legislation gained cross party support and will do away with the need for foreign individuals to hold land through a local Bulgarian company. There will be a transition period of 7 years before these changes take full effect.

The move is widely expected to further increase interest in the Bulgarian property market by foreigners attracted by the country's varied landscape and excellent prospects.