Buyers Guide - Bulgaria
This section gives you a few things to consider if you are planning on purchasing a home or investment property in Bulgaria.
Why Buy in Bulgaria?
Bulgaria is a strong developing market that gives investors a wide variety of choices, whether it be for winter for skiing or summer for enjoying the sun, or even enjoying the history of the local history that dates back to 800BC.
See our comprehensive guide to Bulgaria
Fees and taxes
- On purchase a 2% property tax is paid to the local municipal.
- Legal fees cost about 2.5-3%
- Agent fees can cost between 3-10% so be careful choosing an estate agent.
- Vat paid at 20% when applicable such as to register a new company address.
The Buying Process
Once a buyer has found a property a reservation contract or preliminary purchase will be signed. With a reservation contract it is possible to back out latter but with a preliminary purchase it is legally binding.Once your lawyer has done the all checks then the preliminary contract will be signed which commits both parties to the property sale. At this point the buyer pays a 10% deposit. The remainder of the balance is paid on exchange when purchase contract is signed in the presence of a notary. Then the new owners will be registered. Buying off-plan be paid in installments, 3 payments of 30% and one at completion of the remaining 10%.
Please note foreign buyers can not purchase land.
Property Costs
1 Bed Apartment £36,000
2 Bed Apartment £54,000
3 Bed Villa £87,000
4 Bed Villa £108,000
Coastal properties remain the most expensive at approx £400/m2 in Bourgas and Varna.
Useful Links
Click here to view properties for sale in Bulgaria
