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Tax Values and Market Prices of Real Estate in Bulgaria

Author

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  • Stefan Yotov

Abstract

There has been a significant rise in prices of real estate in Bulgaria for the last several years, whereas their tax values remained the same. It is a common practice to declare the tax value as a transaction price, when a transaction with a real estate is done. This leads to a number of risks to buyers and sellers, low revenues for municipalities, notaries and register offices, as well as to distortion of statistics of real estate prices and their growth. Some possibilities for updating tax values are analysed, which will increase the transparency of real estate markets in the country and the confidence of investors — local and foreign.

Suggested Citation

  • Stefan Yotov, 2005. "Tax Values and Market Prices of Real Estate in Bulgaria," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 71-79.
    • Handle: RePEc:bas:econth:y:2005:i:5:p:71-79
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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