Bulgarian Military to Sell Numerous Attractive Properties

Business » PROPERTIES | May 14, 2012, Monday // 17:15| Views: | Comments: 0
Bulgaria: Bulgarian Military to Sell Numerous Attractive Properties Bulgaria's Ministry of Defense is selling a number of military properties. File photo

Bulgaria's Defense Ministry is about to sell a number of potentially attractive real estate properties, according to reports.

The Bulgarian government is about to approve the sale of 18 military properties that are said to be no longer needed by the military, Mediapool reported Monday.

Only one of the properties – a plot of 1.5 million square meters with 9 buildings located in the village of Banevo, Burgas District – is said to be worth over BGN 23 M.

Another property of similar size located in the Valkov Kamak area near the southwestern town of Sandanski has a tax valuation of over BGN 7.2 M.

Other military properties for sale are located near the Black Sea town of Balchik as well as in Pleven, Chirpan, Ruse, and Vratsa.

The Bulgarian Defense Ministry is going to auction off the properties in question by setting up their starting prices by adding 10% to their tax value.

Back in 2009-2010, Bulgaria's Defense Minister Anyu Angelov declared the intention to sell military properties that are no longer needed, which back then were a total of 858, including individual apartments, stores, and garages. Their number today is estimated at 976.

During 2011, the Bulgarian Defense Ministry held 194 auctions and managed to sell only 26 properties for a total of BGN 7.4 M. According to the institution, the lack of interest was caused by the crisis on the Bulgarian real estate market.

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Tags: Defense Ministry, Defense Minister, Anyu Angelov, properties, real estate, real estate properties, real estate property, real estate market, auctions, military properties
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