The starting price for compensation for expropriation of agricultural land is being raised threefold. The new prices are set by a ministerial decree on amendments to the regulation on the procedure for determining prices of private properties that the state wants for its own needs.
With the changes to the regulation, in practice, when the state expropriates a certain property that is agricultural land, its owners will receive higher compensation. Until now, these compensations were very low and did not correspond to market realities and changes in economic conditions over the last 25 years, as outdated starting prices were used to determine them, BNR specifies.
The new values provide for compensation for the first category of agricultural land to start at 1981 leva per decare, for the second - from 1824 leva/decare. Owners of third and fourth category land will receive a starting price of 1,573 BGN/deka and 1,352 BGN/deka, respectively, and from the fifth to tenth category, compensation can vary from 975 to 189 BGN/deka.
Uncategorized land will be compensated with a minimum of 126 BGN/deka, the change in the regulation also provides.
Detailed statistics on the average prices of properties in Bulgaria by cities and neighborhoods can be seen at imot.bg