Bulgaria is a country in the European Union with the most affordable real estate in terms of price and requirements for investors from other countries and the variety of offers on the domestic market. The cost of one-room apartments on the Bulgarian coast starts from 15,000 euros, and the price per square meter from 800-2500 euros.
When buying real estate in Bulgaria, foreign citizens will not face any significant difficulties since this will not require obtaining additional permits or fulfilling special conditions. Purchasing a Bulgarian apartment allows its owners to receive a stable income from rentals during the holiday season. How to buy real estate in Bulgaria without hassle? Let's talk about this in more detail.
Why choose Bulgaria to buy an apartment?
Despite a specific rise in price, real estate in Bulgaria remains one of the most affordable for buyers from Ukraine, the USA, and Europe. In addition to reasonable costs, purchasing Bulgarian apartments has many other advantages, particularly much more lenient financial monitoring rules than in other European countries. This criterion plays a vital role for foreign investors.
Preparing to buy an apartment in Bulgaria
Features of purchasing an apartment in Bulgaria for citizens of other countries depend on the type of property purchased. The country's legislation does not establish any strict restrictions or special requirements for foreign buyers of apartments. To buy apartments in Bulgaria, an investor only needs a foreign passport.
Before buying an apartment in Bulgaria, you must carefully study the real estate market, choose the most suitable region, and formulate a budget and financial plan. Our company will help you cope with such problems. Bulgaria House specialists assist in selecting appropriate real estate, considering clients' wishes regarding its type, cost, location, and other criteria. Only an integrated approach to buying an apartment in Bulgaria will allow you to invest your money profitably.
Legal aspects of purchasing an apartment in Bulgaria
Foreigners who want to buy an apartment from a developer agree with a contractor. As a rule, according to the terms of the agreement, the buyer undertakes to pay the cost of the apartment in the following shares:
- 30% – down payment;
- 30% – payment after completion of construction;
- 40% – payment must be made to the specified details after notarization of the purchase and sale transaction.
It is important to note that in Bulgaria, housing under construction is usually 10-20% cheaper than finished apartments, so the demand for such real estate is high.
The process of buying and selling apartments in Bulgaria includes the following stages:
- Selection of real estate. You can choose an apartment by contacting a real estate agency.
- Making a deposit. This amount is 2000-4000 euros, depending on the agreed price of the apartment.
- Signing a preliminary purchase and sale agreement. This document determines the cost of the apartment and the time of signing the main contract.
- Opening an account in a bank in Bulgaria. Payment for the cost of real estate is carried out non-cash, so foreign citizens need to open a bank account.
- Signing the purchase and sale agreement. The main deal must be signed and certified by a notary.
- Registration of ownership of real estate. In Bulgaria, after the official transfer of ownership of an apartment, foreign citizens must register residence documents with the court, tax office, and real estate registration office.
To simplify the process of buying an apartment in Bulgaria, enlist the support of a professional broker and real estate agency specialists.
Searching for real estate for purchase
You can entrust the search for an apartment in Bulgaria, taking into account your requirements, to the managers of the “BolgariaDom” company. Our specialists will help you find and buy real estate that suits you according to the following criteria:
- region of location;
- type of housing;
- price;
- area, etc.
We will assess the apartment's condition and infrastructure, allowing you to purchase the best option within the planned budget.
Financing and taxes regarding residential real estate
When buying an apartment in Bulgaria, you must increase your budget by several thousand euros to cover associated costs and taxes. Mandatory payments include:
- taxes on transfer of ownership – 4% of the expense;
- notary fees – 1% of the price;
- registration fee on the electronic services portal – 0.1% of the charge;
- the cost of document translation is 80 euros;
- annual property tax – 70-100 euros.
- property insurance.
You can optimize costs by using the services of professional brokers.
Recommendations for a successful investment
Suppose you are thinking about how to buy real estate in Bulgaria. In that case, we recommend that you study the current legislation of this country or get detailed advice from the manager of the “BolgariaDom” company. The procedure for buying and selling Bulgarian apartments is relatively fast and can be completed within one month, subject to the support of experienced experts.