The Bulgarian Real Estate Market

The Bulgarian real estate market is expected to begin its rebirth with the new notarial law, so that transparency will be processed on all real estate transactions by the custodian of the State.

With the adoption of an amendment to the law of the notary, all new transactions such as real estate and vehicle purchases are required to go through the custodian of the State. Designed to end the existence of a joint purchasing excessive cash, is the explanation of all acquisitions, a significant change to the current methods of purchase to be one of many investors.

The new law should a notary to force in January 2010 in an effort to come, real estate fraud, corruption and money laundering should be reduced. The introduction of a government depository bank set up to handle all payments for real estate, but with limitations, since it is not designed to function as an ordinary commercial bank.

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