Bulgarian Beachfront Properties to be Demolished - A Sad Reminder to Check Your Investment Property Well
It sounds like an extreme scenario, but unless you want to face the future risk of losing your home, always check the finer details to make sure everything is in order before you commit to buy property.
When you’re buying a home abroad or an investment property, it’s easy to get carried away with the dream. But don’t forget to carry out all the necessary checks, or your dream could get shattered.
There have been several newsworthy cases in Spain recently, for example, where houses have been found to be built illegally and later deemed necessary to be removed - which is impossibly hard to accept when you have invested good money in your property and maybe even made it your home. Sadly, the latest country to face a similar situation is Bulgaria.
Bulgaria’s Directorate for National Construction Supervision (DNCS) has recently announced that 193 properties are to be demolished due to being illegally constructed. All the properties are located along the coastline, in the north (94 properties) and on the southern coast (99 properties), many of them beachfront restaurants and outlets.
The move comes after the Spatial Planning of the Bulgarian Black Sea Coastline Act came into force on 1st January 2008. By law, anyone who had erected illegal buildings on the beaches needed to voluntarily demolish them within a month of the law coming into force. Unsurprisingly, not everyone was keen to do so, whilst others may unknowingly be living or working in buildings which they didn’t know had gone up illegally.
Since the end of February, two expert panels from the DNCS have been busy inspecting properties and have so far identified 193 that fail to meet the strict Bulgarian guidelines. The demolition squads have now arrived and started knocking down the illegal real estate.
Whilst it’s sad to see buildings being destroyed in this manner, it serves as a warning for all property buyers and investors to carefully check all details, or get a lawyer to do so on their behalf, before they purchase an investment property or home to ensure they don’t get caught out.
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