Bulgaria is a state in the eastern part of the Balkan Peninsula. It is associated with a warm sea, mountain landscapes, European service, and low real estate prices. These positive aspects have allowed the country to take a leading position in the purchase of housing by foreign investors. What should you pay attention to to become a happy real estate owner in Bulgaria?
Whatfollowing: What is the difficulty of buying a home? The decision should be weighed and considered. Considering the pros and cons will allow you to see the pitfalls and prevent unpleasant consequences in the future. A comprehensive approach to this task will protect you from disappointment and give you pleasant emotions from the purchase.
The company "Bulgaria House" specializes in buying and selling real estate. Our agency is considered the largest and most dynamically developing on the southern Bulgarian coast. Experienced specialists will help you realize a safe transaction and provide legal support. The company's priorities are an individual approach and high-quality service.
The process of buying real estate for foreign citizens in Bulgaria
Bulgarian legislation does not restrict foreign citizens and provides the right to purchase suitable real estate. The optimal option is to buy apartments in a new building. There are restrictions on the purchase of a land plot. When opening a company in Bulgaria, these obstacles will be left behind. After registration of a sole proprietorship, the legal entity becomes the owner of the land plot.
Home buying stages include:
- Conclusion of a preliminary sale and purchase agreement.
- Verification of the real estate object.
- Conclusion of the contract at the notary.
- Making payment.
The final stage is the registration of ownership. After the transaction concludes, the notary prepares the documents for submission to the district court, where the data are entered in the State Register. Within seven days, the owner is issued a deed with a note on the registration of ownership in the notary's office.
Legal aspects and requirements for acquiring a home
For the transaction to be successful, the foreign citizen needs to provide the following documents:
- passport;
- a receipt from the bank on payment;
- a declaration of origin of the funds;
- declaration of citizenship and marital status.
If the future owner is present in person at the conclusion of the transaction, only a passport will be required. The documents are completed and signed at the notary's office.
A foreign real estate owner in Bulgaria must register for tax purposes. The deadline expires within two months from the date of purchase. The owner pays two types of tax: property tax and communal tax. The amount is paid in one lump sum or divided into four equal parts. A one-time payment provides a 5% discount.
Failure to pay property tax on time will lead to unpleasant consequences for the owner. He will face penalties and future problems related to obtaining a visa and residence permit. Strict measures on the part of the state are considered to be the seizure of property and its sale at auction to repay the arrears.
Tips for choosing a property and neighborhood to invest in
Choosing a region should be based on the buyer's request. It all depends on whether the future owner will use the property for seasonal vacations, rent the apartments, or live with his family.
If you plan to move, it is worth choosing housing options in major cities, including Burgas, Nessebar, Varna, and others. In these regions, the purchase of an apartment in a multi-storey building will cost less than the mandatory annual fee (support tax). These cities have developed infrastructure and a convenient location on the Black Sea coast.
When buying real estate for rent, investors are recommended to look for accommodation in the resort complexes of Sunny Beach, Sveti Vlas, or Sunny Day. Favorable options for year-round rent are Burgas, Varna, Sofia and Plovdiv. Here, apartments are in demand among tourists and locals visiting the neighborhood.
Before purchasing real estate, it is necessary to study the market features, determine the allowable budget, and consider the selection criteria. Nuances such as region selection, infrastructure, and interior and exterior amenities will be handled by the company Bulgaria House. Our agency's website has a catalog with a large selection of objects.
Buying real estate in Bulgaria requires a comprehensive approach to this decision. Professionals who know their business will offer you various options, taking into account your needs. Our specialists understand real estate's peculiarities and the nuances of agreements. In the future, your investment will pay for itself and allow you to experience all the advantages of a favorable deal.
Contact messengers and contact phone numbers for advice:
Bulgaria: +359(896)084-438
Israel: +972(3)762-16-86
Ukraine: +38(098)078-28-98
Russia: +7(499)301-71-98