Agricultural land in Bulgaria – is it worth investing?

Investments in agricultural land in Bulgaria have always been considered a profitable deal. Using land to grow vegetables, fruits, and grains, providing a proper budget allocation, brings a stable income. The plot can be rented out or resold – land prices increase even when the real estate market is stagnating. Apart Estate offers a short analysis of where it is profitable to buy agricultural land in Bulgaria and why. We will also talk about the restrictions associated with the acquisition of land.

What can agricultural land be used for?

As follows from the concept itself, agricultural land is land intended for farming, i.e. growing grains, vegetables, and fruits. Such plots cannot always be used for livestock farming. Organizing pastures also requires separate permission and approval.

In accordance with Bulgarian legislation, agricultural land must be located outside populated areas, forested areas and industrial zones.

Only buildings necessary for agricultural work can be erected on the land. These could be garages, barns, and special constructions. If you decide to build a residential complex, SPA center or a house on such a plot, you need to take care of changing its status.

Agricultural land can be rented out, and this turns it into a tasty morsel for businessmen. The fact is that many farmers, for various reasons, prefer renting land instead of investing huge amounts of money in purchase.

Restrictions when purchasing land

According to the law, foreign citizens do not have the right to buy land in Bulgaria. This provision applies to both building plots and land used for agriculture.

However, there is a way to avoid this point. Land can be purchased if the buyer is a legal entity. So, if you want to buy a plot, you can open a company and use it for registering your agricultural land. After that, you can do whatever you want with it – grow vegetables or fruit trees on it, rent it out or sell it.

Where is it profitable to buy agricultural land

The highest price for agricultural land in Bulgaria is in the northeast of the country. This is the Dobruja region. It is here, where the soil is the most fertile, and the climatic conditions are optimal for growing vegetables and grains. In 2022, one hectare of land in Dobruja cost about 473 euros.

In northern part of central Bulgaria, the cost per hectare ranges from 352 to 375 euros. These are the regions of Veliko Tarnovo, Lovech, Pleven, Gabrovo, and Ruse.

Approximately the same prices are typical for the Burgas region on average.

The most expensive plots are sold near Sunny Beach, Pomorie, and Sveti Vlas. The main reason is a possibility to change the status of land, so it can be used for construction of residential complexes and houses. The cost per hectare reaches 500-600 euros.

If we talk about land in the Burgas region that can be used for farming, the most expensive plots will be close to ​the cities of Karnobat and Aytos. They are located at the foot of the Balkan Mountains, where the topography provides a special microclimate suitable for growing grapes, wheat and vegetables.

The cheapest agricultural land in the Burgas region is in Strandzha. The selling price is around 310-340 euros per hectare. The agriculture is rather poorly developed here due to the dry climate and clay soils.

Agricultural land in Bulgaria is a profitable investment that allows you not only to save money when the inflation is high, but also to receive a stable income. Apart Estate recommends buying a plot in the Burgas region – near the sea, at the foot of the Balkan Mountains and Strandzha.