Bulgaria Ski discussion board

Hi All,

I wonder if anyone can share their knowledge, if they have been made similar enquiries.

I've been offered the opportunity to buy a restaurant in Borovets. Prior to throwing a substantial amount of money in to the investment, I did a bit of research through my contacts at Samokov Municipality.

I have been advised that it if you buy a property in Borovets you will not own the land. It is claimed by the Municipality that they own all of the land, and they have rented it out to an individual who is actually claiming he owns it and selling it on to unsuspecting parties.

I was advised of some British guy that bought something on the strip who believes he owns the land and building but in fact he only owns the building.

The worrying this is the Municipality has plans to demolish all the restaurant and shops at the end of the rental agreement of the land, including the one owned by the Brit and redevelop the area.

My question is has anyone else made similar enquiries? As I wonder if the info I have been given is correct.

Thanks in advance.

Brian

Hi Brian

what you say about Borovets is correct. Some of the buildings on the main strip are built on municiaplity land so i think you would only own the building and not the land. I think it is not all of them however so the best thing to do is contact a lawyer who will be able to verify this for you very quickly.

Regarding the plans to demolish and rebuild this area. You are correct. The municiaplity have plans for a more permanent structure in this area. A sort of shopping mall and restaurant complex

hope this helps

hi Brian

i am only speculating here but i think you are probably talking about Fraser who owns a chalet just down from the Samokov hotel. Fraser is on a different section of the strip to where the temporary buildings are so he may very well own the land. it would be best to check with him of course as only he will know. you could look on the skidvd.co.uk forum where i think his username is fraser. regarding the redevelopment i have heard that it is in the area between the samokov hotel junction and the rila hotel. on the right as you go up the hill.

you should also be aware that in BG you can own what is called the "construction right" which is the right to build on the land. if you have this right it is virtually the same as owning the land because you fully control what can happen with the land.

the best thing to do though is get yourself a good local lawyer who can check everything.