House for Sale in Sofia, Krasno selo
Single-Storey House with Redevelopment Potential on Tsar Boris III Boulevard in Krasno Selo for Sale in Sofia, Sofia City Province, Bulgaria
A single-storey residential building with a built-up area of 115 sq. m, sold with the corresponding undivided shares of the building right but without the land (as a separate property right), located at 157 Tsar Boris III Boulevard, Krasno Selo district, Sofia. The house is co-owned in equal shares by two companies. No VAT is payable.
The land plot on which the building stands is owned by Sofia Municipality but is used exclusively by the owners of the building. The yard offers parking for 2-3 cars and room for gazebos, a barbecue, a prefabricated pool, children’s play equipment and more.
Investment prospect: under the Municipal Property Act, the owners have a legal option to purchase the land without a tender at market price (not lower than the tax assessment), demolish the building and construct a 9-storey residential building. The regulated plot (UPI) is 539 sq. m in a residential zone, with 40% building density, a floor-area ratio of 3, a cornice height of 26 m and a permitted total built-up area of 1,617 sq. m.
Property Details
- type: house (building right only, without land);
- total built-up area: 115 sq. m;
- option to buy the 539 sq. m regulated plot from the municipality;
- redevelopment potential up to 1,617 sq. m, no VAT;
- price: €440,000.