What are the costs of buying the property in Bulgaria

Taxes and fees for buying property in BulgariaBulgaria becomes one of the most popular places where the foreigners buy property. That is why we often see questions about what are the additional costs connected with a purchase of the property in this sunny and hospitable country ?

What are the additional costs of buying a property in Bulgaria? Нow complicated and expensive is the process of buying a property in Bulgaria?  The article includes answers for all these questions.

The majority of the buyers start asking these questions in advance. So let’s try and estimate:

  • what are the  costs of buying a property in Bulgaria;
  • are there taxes or fees which have to be paid?
Costs for a property in Bulgaria

Costs for a property in Bulgaria

An approximate amount to be paid in a time of buying a property in Bulgaria

The first step of getting a status of the property owner in Bulgaria is a choice of the property in Bulgaria and buying it.

As soon as it is done, the future owner needs to go sign a purchase deal and form the documents which confirm purchasing an apartment or a house. The final document in a Notary Act, signed by a buyer and a seller in a presence of the notary. 

These are the costs of buying a property in Bulgaria:

  • A municipal tax. It differs from one municipality to another one and is about 1-3% of the property price indicated in the Notary Act. The tax rate is low in regular towns and villages. While in the resort towns and areas it might be as high as 3% of the value indicated in the Notary Act. This is how much buyers need to pay for example in Nessebar and Sunny Beach.
  • The other inevitable cost include the costs for the real estate agency. This amount is usually agreed in a contract with a real estate agency. It is paid only once upon signing a Notary Act.

What taxes and fees for the property in Bulgaria does the owner have to pay

Signing the Notary Act transforms the buyer to the person who has all the rights to own the property in Bulgaria. The owner gets additional responsibilities for payment property taxes, fees for garbage utilization,  water and electricity bills.

The amount to be paid depends on the location of the apartment or a house. The average value is 0,15% of the price of the property indicated in the Notary Act.

Please leave a comment or review.

Similar entries in the same category:

We recommend that you familiarize yourself with similar entries, maybe they will interest you.