BUYING PROPERTY IN BULGARIA
Bulgaria is the place; now is your time. Bulgaria is your investment opportunity; your holiday destination and your very own hidden gem. Bulgaria is becoming a popular destination, but it is still relatively unexplored. Skiers will know about its winter sports and some will have visited the Black Sea summer resorts or the beautiful and relaxing spa areas. Most of us have heard about the Bulgarian wine in supermarkets but there is more - a lot more.
Bulgaria offers beautiful sandy beaches, mountains, rivers, valleys, ancient towns, villages and monasteries which rank as World Heritage sites. Bulgaria has a history of several millennia with a long tradition of culture, architecture, art and scientific prowess. Its people are highly hospitable, educated and often multilingual. The food is fresh, healthy and delicious. Things are changing rapidly... in the years before Bulgaria joined the EU in 2007 large sums have been invested in the infrastructure of the country improving communications, roads, airports and buildings. But the natural beauty, age-old hospitality and outstanding value remain. And we are here to help you, from your preliminary enquiry through to our extensive post-purchase services.
Bulgaria has a relatively new and undeveloped real estate market, offering a wonderful range of properties. Some places are very fashionable and the prices reflect this but there is a great range of interesting property in beautiful locations at very low prices compared to Western Europe. It is quite possible to buy a house in a beautiful location for less than £4,500 and a very nice seaside villa for considerably less than in the UK.
PropertiesinBulgaria.com recently worked with major UK TV station Channel Four's A Place in the Sun on their special programme "The Beauty of Bulgaria". We were contacted by the broadcasters to assist in the making of a documentary, No Going Back, about the life of a British family now living and working in Bulgaria.
You will see from the BBC advert that interest in Bulgaria is undiminished and that our services have achieved continued recognition as the best around.
Exhibitions of overseas properties are very popular in the UK and at a recent exhibition hosted by the magazine publisher Homes Overseas over 40 seaside properties around Varna were sold in just one day.
How easy is it to buy with PropertiesInBulgaria.com?
Probably easier than you think. Of course, buying in Bulgaria presents similar challenges to buying in any foreign country - it is not particularly more or less difficult than anywhere else. The one specific law to be taken into consideration is that a foreigner is currently prohibited from owning land in Bulgaria. This is easily overcome by PropertiesInBulgaria.com forming a Bulgarian registered company on your behalf, with yourself as sole director and beneficiary. That company can then buy and own both the house and the land freehold. This procedure is fully recognised under Bulgarian law. More details on the process of forming this new business entity in order to own the property or properties are available here.
NEW! In order to make it easier for all our oversees clients to have their property deals finalised we have recently launched a unique secure online interface providing you with a completely safe way to lock your selected property in, thus ensuring no one else is able to compete for it. We are currently 'fine-tuning' our totally remote procedure for purchasing your new property in Bulgaria without you having to come over at all. Please contact us for more details and information.
Costs of Buying/Timescales
Legal fees for setting up a company and doing the conveyance will be approximately £500.
State Tax (Stamp Duty equivalent) is 2% of purchase price and other legal and notary fees are less than 2%.
Timing - it takes couple of days to sign the preliminary contract with the deposit/downpayment (usually 10% of agreed price) to lock/secure the selected property in, then a week or so to form a company and then a few weeks to notarise the deal. So the overall process when using our knowledge and services is much faster than in most countries.
Real Estate Taxation
More information is available from Bulgarian Embassy in London, UK about:
Rila Mountain, winter
© 2019, D. Georgieva
Did you know?
Housing Loans in Bulgaria with Strongest Growth from the Beginning of the Year Since 2009
Call Properties in Bulgaria (a service of easyBG Real Estate) - the best British Bulgarian property specialists Est. 1998. Talk NOW with no obligation to a real person. Call our UK 020 8089-8097 or BG office +359 29 862-863
Whilst every care is taken to ensure that all general information and descriptions of property is correct we advise all clients to make their own checks and take legal advise when purchasing property overseas. Information and price guides subject to change. All properties shown are to the best of our knowledge genuinely for sale at the time of publication (unless clearly marked "Under Offer" or "Sold"). Although the properties have been visited by our staff and details are produced in good faith, no responsibility is taken by us for any discrepancies, inaccuracies or omissions. All introductions and referrals to agents, lawyers and other services are made in good faith but no responsibility is taken by us for any problems or negligence which may arise. All background information about Bulgaria is taken from that available in the public domain and is not a recommendation from us or our staff although of course we may add comments and suggestions based on personal experience (such as restaurants)
PROPERTIES IN BULGARIA - our official mobile app is now open for free download on the market at: click here
UK Embassy in Bulgaria, 31/01/2019
Ambassador Emma Hopkins has a message for UK nationals in Bulgaria. In it she provides an update on latest negotiations, the Embassy's recent work and reminds of the importance of registering with Bulgarian authorities if you reside in Bulgaria. [watch the video]
The flipside is that Bulgarian property is now remarkably affordable and probably appropriately priced. Properties that sold for €80,000 10 years ago are widely available now for €25,000, writes Diarmaid Condon in Is the price now right for Bulgarian property investments?. [read the article]
If you're looking for a cheap beach holiday this summer, you should head to Bulgaria and Turkey, according to the 12th annual Post Office Travel Money Holiday Costs Barometer. [read the article]
British holidaymakers are moving east to extract more value for their pounds, according to Europe’s biggest travel firm, writes Simon Calder in Bulgaria and Croatia See More Bargain-Seeking Brits. [read the article]
The prices are almost irresistible, but buyers must beware dodgy deals and 'iffy' infrastructure, writes Cheryl Markosky in Bulgaria Beckons. [read the article]