Recent changes have made it easier for foreigners to buy but using a good independent lawyer is essential. Advice when buying property in Bulgaria. Guide to Buying Property in Bulgaria 2019, Value of Energy Efficient Homes Continues to Rise, Working Overseas Remotely Is Now Appealing To Investors, How to Get Cash for Your Overseas Property from Worldwide Investors, How to Sell UK Property in London to Overseas Buyers and Investors, How to Sell Property in the UAE Fast In 2020. Sofia is Europe’s 15 th largest city with 1.25 million people and 607,000 homes, but just 3% of these were sold in 2012. This means that those property developers and builders brave enough to invest in Bulgarian development land have been able to make significant profits without charging buyers the earth. Property in Bulgaria is pretty illiquid. Property Purchase Costs, Fees & VAT If you are looking at buying property in Bulgaria then there are good opportunities are to be had if you are looking buying one or two bedroom apartments on the Black Sea coast or in the ski resorts of Banso and Borovets, which are about an hour from the capital of Sofia… and it is only a little more expensive in the historic Bulgarian cities of Plovdiv or Varna. Large and nice rural house 22 miles to the sea, For sale, a ready to move in house in the village of Ravnets, Buying Property in Bulgaria – Bulgarian Property Buyers Guide, The Price of Agricultural Land in Bulgaria has Risen by 5%, The Villages Around the Resorts in Bulgaria Attract with Cheap Properties, British Are Once Again Interested In Buying Bulgarian Properties, Cheap studio apartment with SEA VIEWS for sale in SUNSET KOSHARITSA, 1-bedroom furnished apartment with sea view in a complex on the first sea line. This is a legal document that certifies that you are the new owner of the property. But since the breakup of the Soviet Union, Bulgaria has come into its own. Find Property for sale in Bulgaria. Copyright © 2019, Euro Resales LTD, All Rights Reserved. On the other side of the coin however, the new-build market is somewhat saturated, there has been so much cheaply-priced property built that it is not currently easy to sell it on and make a profit… the same applies if you decide to rent out your investment property on a buy-to-let basis. :+359 893 33 34 03 (WhatsApp or Viber). The Bulgarian overseas property market is also attractive because of the relatively low home prices here, and a potential for a double digit growth year after year. The Euro Resale's Network was designed by some of Europes leading sales agents. Non-residents are usually able to secure a mortgage of up to 75 per cent Loan to Value (LTV) through a UK-based broker against a property in Bulgaria, although you should check the current situation with your appointed broker or advisor as these figures can shift rapidly. This update to the 2016 Our House video shows progress with Colin and Brian's houses, the story of Davey's bungalow and a new look at Svishtov and Oresh. Save. Residential property prices in Bulgaria officially increased by around 100 per cent between 2003 and 2008… and in some parts of Bulgaria they more than quadrupled! Buying power is relative, a coffee in Bulgaria costs 30 cent, it would be €3 here,” says Cullen. But the property will belong to them and them alone. Russians, Scandinavians, Irish, and the British – everyone wants to buy a second home here. Also, when buying a house or cottage with a garden or plot of land, they will need to register with a Bulgarian company who will buy the property on their behalf. Bulgarian law allows non-EU citizens to buy property in Bulgaria with some limitations. Talk to an overseas estate agent who specializes in Bulgarian properties for more on this. This country was behind the Iron Curtain of Communism for almost 50 years. Last visit was: Sun Dec 20, 2020 2:35 am. Bulgaria has similar requirements. Nobody knew much about it then. The Process of Buying Overseas Property in Bulgaria. They can buy apartments. Having said that, any investors willing to buy property in Bulgaria now and take that gamble while prices are low could find it paying off hugely at some future date when there is a sustained upturn in the global and Bulgarian economies. Financing your Bulgarian Property – Mortgages & Property Finance Bulgaria is back in our Top 10 Places to Buy Abroad index 2019, which pleases Polina Stoykova, managing director of Bulgarian Properties, who believes the country’s property industry has learnt from the financial crash. Newly built 3 bedroom house 55 km away from Burgas, for only 15 990 Euro! It is bordered by the Black Sea to the east which offers some great coastal resorts, Greece and Turkey to the south, Serbia and Macedonia to the west, and Romania to the north. Foreigners cannot buy land, for instance. Bulgaria’s boom was brokered on new build property – mostly apartments – that were 25 to 50 per cent cheaper than those to be found pretty much anywhere else in Europe. It is currently Sun Dec 20, 2020 2:35 am Sofia, Bulgaria’s capital, saw an overall house price increase of 6.2% y-o-y in Q1 2020.Prices for new dwellings rose by 5.1% while existing dwellings saw a price increase of 7%. Renovated and furnished house, 30 km away from the town of Yambol . Last year, the nation made close to $10 billion in revenue from tourism, thanks to the unprecedented interest in Bulgaria. ... within the EU as well as the common working and retiring conditions have also been a significant factor for choosing Bulgaria for buying … Be aware that it is not easy to earn a suitable rental return if you decide to buy property in Bulgaria with buy-to-let as your primary objective. Stay up to date with news and promotions by signing up for our weekly newsletter. There are usually two property taxes to be paid: property tax and garbage collection, which are paid at the local municipality. Despite EU promises of greater transparency and a crack-down on corruption in general, there is still a lot that needs to be done, so you are advised to get as much local professional help as you can. That is why Bulgaria has emerged as one of the top tourist destinations in Eastern/Central Europe. In the UK, buying and selling property happens pretty sharpish. There is something about Bulgaria, an air of mystery and wonder, an enigma, an unsolved puzzle. Citizens of EU states may own property and land in Bulgaria at the same terms and conditions as Bulgarians. Wags. In exchange for a property investment of $595,000 (£448k), non-EU citizens are offered a residency permit and the opportunity to live and work in the EU. The advantage is that properties in Bulgaria cost a fraction of comparable properties in France and Italy, and other popular overseas property hotspots in Europe. Tips for buying Property in Bulgaria. Since its creation it has focused on property sales and rentals throughout Bulgaria, including the capital Sofia, all major cities (Varna, Burgas, Plovdiv, Stara Zagora, Veliko Tarnovo and Vidin), the main resorts (ski/mountain, beach, golf and Spa), as well as rural areas. But that was then and the picture now is very different… the boom years have quickly come and quickly gone… for many investors looking to buy holiday homes or property in Bulgaria it is currently very much a case of wait and see. If you are an investor searching for overseas property investment opportunities or a second home in Bulgaria please contact us today to discuss how VIP Bulgarian Properties can help you. The State of the Overseas Property Market in Bulgaria in 2019. Since our establishment in 2007 we have been working hard in two main directions – offering a large selection of properties and provide all accompanying purchase services. How to buy property in Bulgaria: Bulgarian law allows non-EU citizens to buy property in Bulgaria with some limitations. The Bulgarian Property Boom The owner then de-lists the property from the market. If you are considering buying off-plan in Bulgaria there are a number of points to consider. © Copyright 2006-2020 VIP Bulgarian Properties All Rights Reserved, | Apartments | Houses | Agricultural Land | Development Land | Offices | Farms |. Following this, a preliminary agreement is prepared and has some basic conditions that are copied on to the Notary Deed. Sign up for email alerts Be the first to know about new properties matching your search criteria. It is obviously too early to say that Bulgaria has already had its very short day as far as residential property investment is concerned, but it is still considered a risky business investing there at the moment. Well, it is because we are not property agents and we don’t actually want to sell you property. How to Buy Property in Bulgaria. Bulgarian Property & Prospects for Capital Appreciation Of course, the owners will have to pay their water, electricity and heat bills monthly. We do not have a slogan to impress you with, we will try to impress you with our work and efforts! This will have the details related to the property, read them carefully. Updated 25.06.2019. Basically all foreigners can buy property provided it doesn’t come with land. Bulgarian Properties on and close to Black Sea coast, houses in ski resorts, houses in and around Sofia, in mountains, rural properties in Bulgarian countryside, smallholding, etc.. 02.2015 - Bulgarian Properties iPhone app now available to download from the App Store Land prices are very low in many parts of rural Bulgaria and building materials and labour are also remarkably inexpensive. Just when Bulgaria seemed to be catching on as a property market of considerable note the global financial downturn of recent times reached out to prick its burgeoning property balloon to such an extent that some investment specialists say that the term boom and bust has never been more appropriate… it seems only a few years ago that the boom began, which makes the bust even more dramatic. New member. After buying a property in Bulgaria its owner must start paying annual property taxes. Absolutely – foreigners are allowed to invest in Bulgarian properties, but with a few restrictions. Reply. New member. In the last few years the number of new-build properties being constructed has tailed off considerably – because there has been very little or no demand. Sunny Beach ranks 6th among the most affordable destinations for buying properties in Bulgaria from Americans According of a National Association of Realtors, Sunny beach is ranked 6th in the world for the ten most affordable beach resorts to buy property from American citizens. 6 posts Marharyta. If you are a buyer from an EU state or the European Economic Area (EEA) you can also buy house with a garden or a plot of land in your own name. If you go for an older property you will find they are even cheaper. Bulgarian law allows foreigners to buy property in the country. It is not so easy to find quality properties there with modern amenities and access to 24x7 water and electricity, and things that get ignored such as garbage collection. Foreigner cannot acquire the ownership of land when buying an apartment or studio flat or an off-plan development it seldom comes with land so this will not affect you. Buying property in bulgaria Marharyta. If however, you are seriously considering buying property in Bulgaria and do choose to go ahead with an acquisition there, you should budget around 22 to 25 per cent for the costs fees etc., and note that some builders and developers include VAT in the property sale price. Create alert List Grid. Buying the real estate in Bulgaria won’t automatically make you obtain a residence permit (Non-EU citizens) although if you are a physical person investing more than 600.000 levs (around 300.000 EUR) in property, you can apply for residency by investment What that also means is that there is a real interest in Bulgaria these days as an overseas property destination. It’s Essential that you get Local Help & Expertise Savvy investors from China, Russia, Ireland and the UK look at that very closely. 1 - 20 of 685 Save your search Get instant alerts. 26,000+ Houses for sale in Bulgaria - 12.2020. Selling in Bulgaria for over 10 Years. As a leading independent property and land investment specialists Investment Property Partners offer expert advice and support to clients across our specialist areas of expertise helping them to achieve their investment objectives. VIP Bulgarian Properties is a leading real estate agency in Bulgaria. Overseas Property Investment Solutions House for sale near Montana (ID: 9845) District: Montana This is yet another offer for a rural … Investment Property Partners overseas property buyers guide covers a number of important issues that you will need to consider if you are considering buying property in Bulgaria either as an investment or as a holiday home abroad. Repayment and interest-only mortgages are generally available, with the minimum term of 25 years. We aim to cover all angles to give you the best chance of a sale. First things first – You should know where to find properties in Bulgaria. 6 posts Did anyone buy a property with " Bulgarian properties" company, if they are reliable ? Property developers and speculative builders, like potential investors, are still holding back until things settle down and the green shoots of growth become visible again. For independent advice you would be wise to engage the services of a UK based solicitor who has experience of Bulgarian property transactions to look after your interests at every stage of the acquisition process. Is Buying Property in Bulgaria Only for the Brave? The agency was founded in 2002 by Bulgarian property experts Nic Stoyanov and Orlin Orestov. Sell Your Property in Bulgaria. What about Capital Gains Tax on Property Sales? We have been working for you for over 17 years now. It would seem that for now the easy money has been earned as far as investment potential and capital appreciation are concerned. The relatively low cost of purchasing property in Bulgaria has always been the same in this former Communist nation built primarily on agriculture and farming activities. If you are a UK resident and registered for tax here you should also allow for Capital Gains Tax at the prevailing rate, payable to HMRC. The cheap Bulgarian property market attracts many investors from all over the world. If you are considering investing in overseas property or simply searching for a holiday home abroad then buying property in Bulgaria is certainly worthy of further consideration. Historically, if you are buying property in Bulgaria you will find that property title is relatively sound. Since 1 st January 2012 EU and EEA citizens are allowed to buy land in Bulgaria, following the expiry of the 5 year prohibition included in the Treaty of Accession of Bulgaria to the EU. If you dig around, you can find plenty of property purchase guides for Bulgaria. Properties in Bulgarian capital Sofia have attracted lots of attention which pushed the building of many new apartment developments in the city. Also, when buying a house or cottage with a garden or plot of land, they will need to register with a Bulgarian company who will buy the property on their behalf. Any capital gains realised by non-resident individuals from the sale of Bulgarian property are currently taxed at 10 per cent… although you should check these figures with the local Bulgarian tax authorities. Not so in Bulgaria. Buying Property in Bulgaria - Useful General Information on Bulgarian Property Purchase ... UK Embassy in Bulgaria, 31/01/2019 Ambassador Emma Hopkins has a message for UK nationals in Bulgaria. Is it a good idea to buy overseas property in Bulgaria in 2019? Additionally, from 2014 onwards in an agreement made when Bulgaria joined the EU in 2007 foreign property buyers are now able to buy and inherit Bulgarian property directly. All Bulgaria’s major cities saw strong to moderate house price rises during the year to Q1 2020. From years of experience to find the best way of getting your property found and most importantly sold. Bulgarian properties for sale. However, it may be that the worst of the economic crisis has passed and property prices have now begun to stabilise, and in the most desirable locations there are green-shoots of growth beginning to emerge… so this may be a good time to look again especially if you are considering buying property in Bulgaria. “The market then was very young, but now we can forecast trends better. Almost anywhere else in Europe would cost you significantly more, upwards of 25 to 50 per cent more for a similar property. All non-EU natural or legal persons can buy apartments in Bulgaria on their own names, provided that the apartments don’t come with ideal parts of the land on which the apartments were built. View our range of houses, villas and apartments for sale in Bulgaria. Tips for buying property in Bulgaria. What about Property Values in Bulgaria? Property for sale in Bulgaria. With Bulgaria also paving the way for a successful accession to the European Union everything in the garden at that time looked rosy, but the downward trend began in 2008… the number of sale transactions in one year tumbling by around 35 per cent, and house prices by over 20 per cent and more in some cases. Are Foreigners Allowed to Buy Property in Bulgaria? We look after your interests in Bulgaria and we do everything to make you happy. If you are seriously considering buying property in Bulgaria then it is essential that you get good local help and assistance from knowledgeable locals… as you have to be particularly careful in your property dealings to avoid getting stung. Cheap house prices, quick and easy access to cheap finance and eager British and Russian buyers eyeing the opportunity of making a quick and substantial profit, set the ball in motion and those who bought and sold before the crisis were substantially rewarded with capital value increases of up to 35 to 40 per cent. 21 June 2019 20:07:42. Renovated and furnished house, 39 km away from the town of Bourgas ! Like. Procedure for buying a property in Bulgaria. The Process of Buying Property in Bulgaria Search for real estate and find the latest listings of Bulgaria Property for sale. 21 June 2019 20:07:42 #1. Once you find a property, start negotiations with the owner. Talk to an overseas property specialist for the details on this. What an offer – Plot of building land for sale, with a total size of 1950 sq.m for 3900 EUR ! Bulgaria - more bang for your buck in 2019? You could buy a lovely beachside cottage for just 50,000 EUR! Sure, there are certain complications related to buying overseas property in Bulgaria in 2019, but there are ways to go around that. Member since 16 March 2019 Marharyta. How does one go about buying overseas property in Bulgaria? All non-EU natural or legal persons can buy apartments in Bulgaria on their own names, provided that the apartments don’t come with ideal parts of the land on which the apartments were built. Once the full payment is made, the Notary Deed is drawn up in the presence of both buyer and seller. Few European holiday destinations can match Bulgaria for affordable property and low living costs. Things to Keep in Mind When Selling Overseas Property in Bulgaria in 2019 . A variety of taxes and fees are payable when you buy a property in Bulgaria, most of which vary according to the price but which may also depend on whether the property has land attached, whether you’re buying through an agent (as opposed to buying direct from the vendor), whether you’ve employed a lawyer and surveyor and whether you employ a translator. Tel. OK Bulgaria - UK based and operated Estate Agency. That is just … The country offers every type of location too, from beach and mountain resorts, to rustic villages and vibrant cities, … However, if you have the cash – and the nerve – to invest in Bulgarian property now, that day in the sun could come some time later. 3 Bedroom Bungalow for sale in Zagortsi, Sredets, Burgas, 2-storey brick house for sale, 35 km away from Varna and the sea. But the property will belong to them and them alone. Local house price variations. In Bulgaria property taxes are the same no matter of the nationality of the property owner so this fear is irrelevant for owners of Bulgarian properties. So why this one will be different? Historically, the Bulgarian economy has not been particularly strong, there are significant levels of unemployment and rental levels reflect these facts. Sure, there are certain complications related to buying overseas property in Bulgaria in 2019, but there are ways to go around that. You will be asked to sign a contract where in you will need to pay a deposit of about 2000 EUR. At present, there is an alternative option when buying landed property - to form a Bulgarian registered company, with the buyer as sole owner and director (the buyer could choose to add other directors, e.g., his spouse). Let’s find out. Also, Bulgaria is naturally beautiful, with many beachside resorts along the Black Sea Coast, mountains and ski resorts, archaeological excavations that date back to more than 5,000 years and busy and bustling cities full of young and ambitious people and a vibrant nightlife. Yes, but with some restrictions depending where you come from. Find overseas properties to buy in Bulgaria with the UK's largest data-driven property portal. The company has accumulated rich experience and gained an impeccable reputation. It is today a free market democracy with a stable government, prosperous economy and where the Rule of Law prevails. Huge Database of Buyers waiting to see your Property. Buying off-plan property inevitably involves higher risk than buying re-sale property. Network of Agents throughout Bulgaria, Russia, Europe, and the World Bringing us Buyers Every Day. VIP Bulgarian Properties 1st October 2019 Bulgarian Property Buyers Guide, Buying Property in Bulgaria If you are considering investing in overseas property or simply searching for a holiday home abroad then buying property in Bulgaria is certainly worthy of further consideration. Bulgaria is situated in the south eastern part of Europe and is a member of the European Union. The real estate market in Bulgaria in the current 2019 has been really dynamic. It is natural for the villages near the big resorts to attract the interest of the buyers with... Bulgaria returns to the top 10 of the overseas property buying sites in 2019 in the UK... 2-storey furnished house 100 m2, just 32 km away from Varna and the sea. 33 34 03 ( WhatsApp or Viber ) huge Database of Buyers waiting to see your.! For your buck in 2019 3 bedroom house 55 km away from Burgas, Only! By some of Europes leading sales agents will find they are even cheaper certifies that you the... 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