Military Real Estate Up for Grabs in Bulgaria

Military Real Estate Up for Grabs in Bulgaria

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Fancy an ex-Soviet barracks apartment in Sofia? Well look no further because the Bulgarian Military has just announced it is to sell a total of 10,300ha and 11,000 buildings this autumn. Although most of the properties are located in Sofia, they would be spread all over Bulgaria in Plovdiv, Bourgas, Varna, Stara Zagora, Veliko Turnovo and Blagoevgrad.

The first set of 243 assets are to be sold in September in a move to generate revenue to buy new apartments for the modernisation of the Bulgarian army to meet EU and NATO standards.

There are three future options the army envisage; Some would be sold, others would have their ownership retained by the defence ministry with build rights sold in exchange for the ministry’s ownership of some property and the last option would be for the ministry to engage in some property development itself.

Due to a shortage of logistic property on the market, the favourite properties are warehouses.

Read more on the Sofia Echo
Ministry of Defence, Bulgaria Official Site