Buying real estate in Bulgaria is not only an opportunity to live comfortably on the coast, but also a very profitable investment. Below is a detailed and clear instruction for citizens of countries outside the EU.
Who can buy housing?
Foreign citizens are allowed to buy apartments and flats in their own name without restrictions.
If you are planning to buy a plot of land or a house with a plot of land, this is possible through the registration of a company in Bulgaria (OOD or EOOD forms).
Stages of buying a property:
- Selecting a suitable property
- Checking the legal status
- Signing a preliminary contract
- Opening an account in a Bulgarian bank
- Registration of the transaction with a notary
- Registration in the cadastral register and tax office
Additional expenses:
- State and notary fees - about 3-4% of the transaction amount
- Translation services (if necessary)
- Payment for the work of a lawyer and/or real estate agency
Taxes and maintenance:
- Annual property tax - 0.1-0.25% of the cadastral value
- Utility payments
- Fee for maintenance of the territory (in resort complexes) - 5-15 €/m² per year, but there are complexes without a maintenance fee or with a fixed fee per apartment
Why it is worth buying property in Bulgaria:
- Affordable prices compared to the rest of Europe
- No purchase tax for foreigners
- Simple legal process
- Possibility of renting out the property