| 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.
More detailed information: Legislative Framework and General Rules
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:
Sunset on Kardzhaly Lake
© 2023, D. Georgieva
DID YOU KNOW?
April 16, 2022
New Rise of Property Prices in Bulgaria
Call Properties in Bulgaria (a service of easyBG Real Estate LLC) - probably the best UK BG property specialists since 1998. Talk NOW with no obligation to a real person. Please call us at 020 4577-3369 (UK) or +359 29 862-863 (BG)
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 "Reserved" 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)
Due to the recent events related to the COVID-19, regretably after 22 years, we had to leave our central Sofia office for correspondance and administrative purposes only. For personal appointments and property viewings please contact us
PROPERTIES IN BULGARIA - our NEW official mobile app is now open for free download on the market at: download
UK Embassy in Bulgaria
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]
Bulgaria’s Consul-General in Los Angeles: Bulgarians have contributed a lot to the development of the New World
Far from their country of birth, Bulgarians living overseas have retained their sense of community which is passed down from generation to generation. A feeling that brings them together in the establishment of Bulgarian schools, a church, things that unite the Bulgarian diaspora. One such Bulgarian is Zara Pehlivani, a young girl who contacted the Consulate General in Los Angeles to present her initiative Reading Room. [read more]
Simeon Saxe-Coburg-Gotha is the owner of "Vrana" palace, final court ruling reads
Simeon Saxe-Coburg-Gotha, son of the Bulgarian Tsar Boris III, and his sister Maria-Louisa are the owners of the park and the "Vrana" palace in Sofia and all claims of the state against them have been definitively rejected. This happened after the Supreme Court of Cassation did not allow an appeal against the decision of the Sofia Court of Appeal, by which the two were recognized as the owners of the property last summer, the website lex.bg reports. [read more]
Biggest apartment complex in Bulgaria’s Pomorie closes doors - what are the reasons
The largest private apartment complex in Bulgaria’s coastal town of Pomorie "Sunset Resort", also known as the Dutch Village, remained in the dark due to an unpaid electricity bill worth 400,000 euros. This forced the administration to close its doors indefinitely and lay off nearly 500 people working to maintain it. [read more]
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]
Bulgaria: Record Rental Prices in Sofia
In October, the prices for buying and renting an apartment in Sofia set historical records. There is a surprising increase in rents, which have been stagnant for a long time. Renting a 2-room apartment currently costs an average of BGN 780 (EUR 400), and a 3-room apartment - BGN 1,100 (EUR 565). Rents have never been so high in history. [read more]
Real estate prices in Sofia have doubled
Real estate prices in Sofia have more than doubled for the past 14 months and they are expected to continue rising. 70% of the deals are for two- and three-room apartments. They are also the most expensive, Vasil Lyunchev, an analyst of the real estate market, told BNR. [read more]
The rise in interest rates and the real estate market shrinkage will not affect real estate prices
There is a slight shrinking of the real estate market in the country during the third quarter of the year. According to latest expert data, despite the expected increase in interest rates and in inflation, housing prices are still going up because demand is higher than supply. That is the reason why there has been a significant rise in real estate prices over the past year. [read more]
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]
Bulgarian National Bank to restrict mortgage loans as of 2021
The Bulgarian National Bank has taken a decision to restrict mortgage lending. The Board of Directors has decided to increase the capital buffer for banks' risk loans from 0.5% to 1% from 2021. The measure aims to ensure that vaults have sufficient reserves to cover losses on non-performing loans. As a rule, the buffer is increased when it is necessary to "cool" a large increase in credit. [read more]
Price of agricultural land has risen by nearly 50 percent for 6 years
The price of arable land in Bulgaria has risen by over 47% for 6 years, the National Statistical Institute reported. In 2014, the average price was 362 euros per decare and in 2020 it was 533 euros. The biggest rise is seen in the southeastern region of the country - over 79%. Agricultural land there used to be cheaper, which made it attractive to investors. [read more]
Bulgarians become the biggest investors in real estate properties in their homeland
The Covid-19 crisis has affected all business spheres. However, according to data of Bulgarian real estate agents, demand and sales of housing properties have gone up, especially in the big cities. [read more]
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]
Are Brits Investing In Bulgaria Because Of Its Lenient Travel Restrictions?
Many people expected the property market in Bulgaria to struggle in 2021. Property around the world was suffering price cuts, the pandemic having left potential home buyers with limited funds. Furthermore, Brexit was expected to have a big impact on British investment. [read more]
Health Ministry Orders Termination of Contract for New Children's Hospital
The Health Ministry has ordered the termination of a contract for building a new children's hospital which would involve the completion of a complex of buildings nextdoor to Sofia's Alexandrovska Hospital. [read more]
Sofia Airport to be Modernized with an EIB Loan of 40 Million Euros
The European Investment Bank (EIB) and the special investment company Sof Connect AD have signed a loan agreement of EUR 40 million for the modernization of Sofia International Airport, BNR reported, referring to the bank. Funding is supported by the European Commission's Connecting Europe Facility (CEF). [read more]
Nick Lavtchiev, director of Easy BG - a company that deals almost exclusively with UK clients - told Oxford Business Group (OBG) recently that, "Over-urbanisation is no good for this market. What is the point of going on vacation or having a home in a place that is as overpopulated and ugly as where you came from? There are plenty of other places in the middle of nowhere that are of interest to aspiring permanent residents.". [read the article]
Bulgarians Buy out Russian’s Real Property on Black Sea Coast
Russians with properties on the Bulgarian Black Sea coast are now selling them en masse. Their withdrawal from the market is not because of the coronavirus, but because of the depreciation of the Russian ruble, according to brokers quoted by Trud. [read more]
Bulgaria's real estate market stable in 2020 despite coronavirus crisis - Raiffeisenbank
The real estate market in Bulgaria remained stable last year despite the challenges stemming from the coronavirus pandemic, with residential property prices continuing to grow, albeit at a slower pace compared to the pre-crisis speed, Raiffeisenbank Bulgaria said on Monday. [read more]
The Report - Emerging Bulgaria 2007
"There is significant scope for development of spa and welness tourism due to Bulgaria's many mineral springs. Golf course development is another area where we are seeing growth." said Nick Lavtchiev, CEO of easy BG a local property firm". [read the book]
The prices are almost irresistible, but buyers must beware dodgy deals and 'iffy' infrastructure, writes Cheryl Markosky in Bulgaria Beckons. [read the article]