How to Buy a Property in Bulgaria

The Cost

Although the asset prices in Bulgaria are quite low compared to the alternative European countries, there may be a huge form of prices depending on the belongings kind and region (as a rule, the properties in Sofia and on the Black Sea are extra costly). The first element you may need to determine out is how many you could come up with the money to spend and decide the charge variety to your buy. Apart from the real fee of the assets, there are many different one-off fees you need to recollect.

The costs

There are some differences in the belongings-shopping technique in Bulgaria from the ones within the UK. Below is the list of one-off expenses, which provides you with a rough estimate of the expenditures you’ll cover. It is beneficial constantly to take all scenarios into account whilst making your estimates.

1. Deposit

Usually, you are required to position down as a minimum of 10% of the charge.

2. Solicitor

You will want to rent a local solicitor who speaks English for all of the felony components of purchasing assets. Some fee a flat charge, others a percent of the belongings price (generally 1%). We recommend getting some fees before selecting one. Solicitors in Bulgaria often represent both facets of a transaction. However, they are legally obliged to be diligent and truthful.


3. Preliminary contract

Its value is around £100, with an extra £15 or so payable for a translation of the settlement – take into account that the English version is not legally binding.

4. Survey / Valuation Fee

5. Agency costs

Agency prices in Bulgaria are regularly cut up between purchaser and seller; a regular price might be 6%, with purchaser and seller every paying 3%. Sometimes the client is accountable for the full price; could-be consumers must clarify exactly how many of the value can be the fee and what percentage of that fee they are dependable on. Occasionally – and that is most usually the case with new-build residences – the charge is blanketed in the purchase price; again, although, the consumer is advised to discover if that is the case and, if so, what share of the overall rate pertains to the charge as it can affect the resale value of the property.

6. Stamp Duty

The authorities charge a tax based upon the property’s purchase charge. This is referred to as usa tax, and it’s far the equal of the Stamp Duty within the United Kingdom. This is a maximum of two% of the purchase charge charged at crowning glory.

7. Notary Fee

The notary puts on public record that the name deed has been signed of their presence and understood via the parties concerned. The notary is further in the price of the submitting of the identity deed with the opposite associated files of the transfer to the cadastral and the property register (land sign up). The Notary pays registration and country fees collected formerly from the buyer. Registration confirms you as the legal owner of the belongings and registers you at that address. The fee charged depends upon the charge of the belongings (See Stamp Duty).

8. House-searching Expenses

Property-searching can be quite a costly commercial enterprise. Expenses consist of money for the journey to Bulgaria, lodges and ingesting, and phone calls.

9. Removal Fees (if not most effective a vacation home)

Doing the removal yourself is time-consuming and stressful. If you decide to employ an organization, ask round for prices first.

Find a Property in Bulgaria

After calculating how a lot you could come up with the money for, you may begin on the most exciting part of the assets-shopping for manner: selecting your future property. But earlier than you start spending your nights digging through piles of Bulgarian assets internet websites and looking at estate agents‘ brochures, it’s far beneficial to sit down and reflect on what precisely you need. Property-searching is hard and time-consuming. You may save yourself self-plenty of paintings and strength by selecting certain conditions earlier than beginning out at the actual assets seek.

Choosing the region and the neighborhood

Make certain you pick out a place you sense at ease in and which fits your non-public desires. If you spend simplest your holidays in Bulgaria, you will decide upon belongings in a ski or sea. If your purpose is to retire in Bulgaria, then a small village may be appropriate for you. But it’s far a must to test the infrastructure inside the location. The identical is the state of affairs if you consider buying a property in Bulgaria for component-time retirement.

If you’re a young, childless expert, you may want a lively pub scene in the place, while in case you are an overworked determine of two kids, an amazing college and a playground are probably of greater importance to you. Anyway, there is a place for anyone in Bulgaria – quiet cute villages with animals and gardens, or undisturbed mountain villages, or lively towns, or luxury sea or spa motels.

Here are the important factors to take into account whilst selecting your future place and neighborhood:

1. The Prices

Find out what place you can manage to pay for first-rate assets by searching on the costs of residences currently offered in exclusive places.

2. Your feelings

Make sure you feel cozy in that area.

3. Distance and delivery

You can arrive in Bulgaria via aircraft, by car, by bus or by train. The primary airports are Sofia, Varna, and Bourgas. From there you could take a bus or a taxi to your final destination. For extra data, you could see Arriving in Bulgaria. So while you pick out your own home’s place, keep in mind how you would get to there and the way long it might take you. The best possibility is that your destiny property is near the essential airport and the street infrastructure is in a true condition.

4. Local Amenities

What you want depends on your lifestyle and choices. Look out for stores, public shipping, amusement’ facilities like pubs and golf equipment, kid’s activities, parks, and so on.

5. Schools

If you have got kids, discover what the scenario is with the nearby schools.

6. Crime fee

Find out the crime fee within the area.

7. The condition of the place and neighborhood

Keep in mind that the nation of the homes for your neighborhood impacts your very own price. The hotel areas are in all likelihood to be extra fancy than the ordinary villages.

8. Local Authority Services

Find out how often the waste is being collected, if the street infrastructure is regularly maintained, if the gardens and parks are kept in proper circumstances, and so forth.

Choose a Property

In addition to finding out what region you want to stay in, you will make up your mind regarding the traits of the property you intend to shop for.

Below there is a list of property functions you’ll bear in mind:

1. Property type

Do you want a house or a flat? If you decide upon a house, need it to be detached, semi-detached, or terraced?

Under the Bulgarian Act on Foreign Investments, foreigners aren’t allowed to very own land but may additionally personal buildings. Foreigners wishing to own land can set up a Bulgarian employer to hold the land. Bulgarian agency incorporation fees less than £600. Bulgaria’s possession policy may be harmonized with the EU within the destiny, most probably in 2007.

2. Property Features

Determine what length the belongings need to be (consider that a bigger home implies better heating fees).
Decide on the range of bedrooms and bathrooms, the face of the construction, whether or not you need a lawn. If you are seeking out condos, have you any choices for the ground range.

3. Old or new?

However, new assets will be greater luxurious to buy with an old property, and high charges might incur for upkeep and enhancements. Thare also many properties that are offered “off-plan,” which can be pretty favorable for you.

4. Garage

If you want to have a vehicle in Bulgaria, test whether or not you’ve got correct parking centers on the road or if there is storage.

Bulgarian Property-Hunting Resources

After having determined your priorities, you may start out seeking out a property to shop for. There are one-of-a-kind resources for property listings.

1. Estate Agents

In Bulgaria, the Estate Agents can promote the houses and deal with negotiations. Agents normally have a wide range of homes to be had and may offer designated information. Buying property in Bulgaria should only be undertaken with desirable professional advice. It is important to apply a reputable real estate agent – the growth in a largely unregulated market has led to a large increase inside the wide variety of corporations selling belongings, several of which may not have the revel in or expert technique of longer mounted corporations. It is recommended to ask for references from preceding clients, especially other foreigners.

2. Private sale

Some asset sellers choose to handle their sales privately via advertising domestically. However, a private sale may hardly be discovered. But the benefit of this kind of bargain is that there aren’t any estate agent expenses to be paid, and you would possibly emerge as paying less.
It would help if you kept in mind that a non-public seller might not deal with you in the identical professional manner as a property agent does. Especially while problems or delays arise, the state of affairs can be a chunk demanding.

3. Online property listings

When you want to shop for belonging in Bulgaria, and also you want to get a brief impact of what’s available on the market, the net assets listings are very convenient and beneficial. It is generally viable to look for residences according to capabilities, price range, and region. Internet listings can be accessed thru property marketers’ home pages or independent property internet sites. You have to understand that a photo published on the internet may not provide you with an adequate impact on the assets, so it’s miles better to remain skeptical until you have actually seen the property.

Arrange a viewing

If you have the danger, you need to move and notice the assets with your very own eyes. Check the belongings you view for:

– General Condition (fixtures and fittings, format, and so forth.)

– State of Repair (insulation, heating, plugs, plumbing, and so forth.)

– Structural problems (dampness, cracks in walls or ceilings, crooked doors, damaged foundations, and so on.)

If you don’t have an opportunity to visit Bulgaria to view the belongings that interest you, you may require greater pix of the belongings’ positive functions. Also, you may ask for the things that aren’t described in the advertisement as furniture and fittings, insulation, heating, plugs, plumbing, etc.


Once you have determined which belongings you want to buy, you could put them aside either via telephone, put up, or email. You may be required to pay a reservation fee, which is refundable, and the assets can be reserved for you for a positive time frame. If the property is offered through Estate Agent, you have to call them to secure the deal.

Preliminary Contract and deposit

The subsequent step may be the sign of the preliminary contract and the fee of the deposit. The deposit may also vary from 10% to 20% of the acquisition fee.

Survey and Valuation

You are essentially carrying out a mini-survey and valuation each time you view assets. It is also recommended to have a closer inspection and valuation finished to check the belongings’ circumstances and determine whether the residence is really worth its charge.


The Conveyance

After your offer has been established, the conveyancing procedure starts offevolved. This includes all of the legal and administrative problems that should be addressed while a belonging is transferred from one owner to another. The commonplace exercise is to rent a solicitor or an authorized conveyancer to deal with the criminal aspects. Hiring a professional solicitor has emerged as inexpensive, and his services are well really worth the money.

What the conveyancing technique entails

Before the change of contracts:

Checking the “name deeds” of the assets to find out whether it clearly belongs to the seller
Establishing the assets’ prison barriers
Putting together a list of furniture, fittings, and contents to set up what is to be blanketed in the sale
Preparing an inquiry shape for the seller to find out about any material or structural defects they’re aware of
Surveying neighborhood authority plans for info on upcoming tendencies that could impact your home’s value
Negotiating with the vendor any maintenance or changes to the provided
Advising you on the draft agreement on the market organized with the aid of the vendor’s solicitor

Exchange of contracts:

Arranging the date for the completion and the trade of contracts
Handing over the deposit


Handing over the keys and identify deeds
Paying stamp charges and notary fees
Completing the Sale

The entirety date, which has been set inside the settlement, is the day the residence will become yours formally. For additional data on Bulgarian residences or any asset shopping factor for the process, go to the brand new Find Bulgarian Property Portal.

Silvia Dimitrova

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