Bulgaria extends land purchase ban despite EU warning

On the 22 October 2013, Bulgaria's parliament extended a moratorium on arable land purchases by foreign investors until 2020 despite warnings from the European Union that it would result in a review of its accession treaty.

However, two days later Bulgaria's Prime Minister Plamen Oresharski and other main political players said that the bill extending a moratorium on arable land purchases by foreigners would be reconsidered.

On the 29 January 2014, Bulgaria’s top court revoked the ban on selling arable land to investors from the EU. It said Parliament had breached basic constitutional principles when it had voted to extend the moratorium until 2020 from 2013.

ESO: Background information: EU accession and the Bulgarian real estate market http://www.europeansources.info/record/eu-accession-and-the-bulgarian-real-estate-market/

EUObserver, 24.10.13: Bulgarian land sale ban risks EU sanction http://euobserver.com/political/121886

EurActiv, 25.10.13: Bulgaria backtracks on moratorium banning land purchase http://www.euractiv.com/central-europe/bulgaria-backtracks-moratorium-b-news-531313

Euronews, 29.01.14: Bulgaria’s top court revokes ban on arable land sales http://www.euronews.com/2014/01/29/bulgaria-s-top-court-revokes-ban-on-arable-land-sales/

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