Minister announces progress in legality of Bulgarian property
Bulgaria's regional development vice-minister Savin Kovachev has underlined the progress that has been made in the legality of the Bulgarian property market, stating that no more than five per cent of the constructions on the country's seaside are illegal.
Mr Kovachev went on to say that ten to 15 per cent of the illegal buildings have already been demolished.
He also told parliament that there are court proceedings underway in regard to the rest, the Sofia News Agency reports.
MPs are currently voting on the law which governs building in coastal areas, but assurances have been given that new laws will not lead to the removal of buildings which conform to the old legislation.
The new bill is designed to offer precise details regarding territory on the Black Sea coast in Bulgaria and also determine the jurisdiction that local authorities will have over the property market in their region.
Dnevnik News recently reported that the Bulgarian property market on the southern Black Sea coast was set to be "awash with developments" as developers try to take advantage of emerging areas such as Tsarevo.
Anthony writes for Bulgarian Venture, a Bulgarian property portal with both news and properties for sale.
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