Frequently asked questions about property in Bulgaria

The most frequently asked questions about property in Bulgaria:

  1. What is the price of the property in Bulgaria?

Questions about property in Bulgaria

Property in Bulgaria becomes more and more popular with each year. It is no wonder that the question about different types of apartments and houses in Republic Bulgaria becomes more actual. The average price of one square meter is 700-800. The cheapest options in small towns with weekly developed infrastructure far away from the sea might cost just Euro 250-300/ m2. The apartments in the center of Sofia and on the first sea line would be much more expensive: Euro 1400-1500 евро. This is the price for will equipped apartments with a high-quality furniture and a wonderful seaview.

There is a big demand for family houses in Bulgaria. The average price of the house with a yard might be be 40-60 thous. Euro. The old houses in the districts far away from the sea shore can be bought at 10-12 thous. Euro.  The new two floor houses cost from Euro 50 thous. to very high prices if they are located close to the beach or downhill skiing resorts, have modern interior and elegant furniture.

One more popular option is a purchase of a land for a house construction or an agricultural land. One decar (1000 m2) in Bulgaria might cost from Euro 150 to 180 thous. 

The average price of commercial areas is Euro 900-1000/ m2. These are the hotels, offices, restaurants, other premises.

  1. What property can foreigners buy?

The citizens of foreign countries may buy any property, but land and forests. This law has one exclusion: the foreigners still can buy the land in Bulgaria, if they register a commercial company here.

  1. How to buy land in Bulgaria?

To buy a land in Bulgaria on a legal basis, one needs to register a company.  It must be located in Republic Bulgaria and can be owned by a person or a legal entity.

  1. Taxes and fees for the owners of the property in Bulgaria

Every owner of the property in Bulgaria must pay two taxes:

  • for property;
  • for garbage collection.

The whole amount can be paid at once or in 2 times: the first one to be paid by the 30th of June, the other one – before the 30th of October of each year.  The total amount is determined by a local municipality and depends on the tax value of the property. The average amount is usually not more than 0,20-0,35% of the tax value. Here is one of the examples: the  owner of the apartment with an area 60-70 m2 and tax value – Euro 40-50 thous. will have to pay Euro 150-220 per year. This amount covers the property tax and the garbage collection fee.

The owners of the agricultural land are not obliged to make these payments.

  1. The price of the property in Bulgaria seems high to you? See the reasons why?

Within the last few years the price of the property in Bulgaria have considerably increased due to a high request. Still the apartments and the land here are the cheapest in European Union. There are several reasons for it:

  • the lowest original prices;
  • the lowest salary in the European Union. In accordance to this the life level here is not on the highest level;
  • low price for the construction materials. Many people prefer to buy a land for a further construction, than ready houses. This is related mainly to the private houses construction.
  1. What is Act 16 in Bulgaria?

When constructing a house or a residential building every constructor in Bulgaria meets a necessity to form lots of documents, among those are Act 14, Act 15, Act 16. The latest is the most important as it confirms that all the construction works are completed, and the future tenants can move in the residential building.

  1. A notary act in Bulgaria – what is this?

A notary act is the document which confirms that the person possess the  property. The document includes the legal information about a seller, a new owner, a location of the property, a date of signing the deal, other  information about the apartment, house or a land.

  1. Can one get a temporary residence permit after buying property in Bulgaria?

According to the legislation of the Republic Bulgaria, purchase of the property in Bulgaria doe not automatically provide a residence permit in this country. This permit can be granted only in the following cases:

  • if the purchase property costs over USD 500 000;
  • the buyer for the moment of the purchase is a pensioner, has enough money for living in Bulgaria and does not require assistance from the Bulgarian government.

The received temporary residence permit is valid for 6 months or a year and must be prolonged until the period within which the person lives in Bulgaria is 5 years. After the expiration of this period, a foreign citizenwho owns the land, apartment or house of Bulgaria can permanently obtain a residence.

  1. Are there any advantages owners of the property in Bulgaria have?

After buying a land, a house or an apartment the buyer get a right to get a multivisa to Bulgaria for 3 years. This is one of the best options in the European Union. Having received this document, the person can stay in Bulgaria 6 months/ year. Upon expiration of this period the owner of the property can prolong it for 3 years more.

Frequently asked questions about the property in Bulgaria

Frequently asked questions about the property in Bulgaria

  1. Can a foreign pensioner get a temporary residence permit in Bulgaria?

Prior to getting a temporary residence permit, a foreign pensioner must get a visa «D».

The visa is issued for 6 months. After it is issued the person needs to come to a migration service in the town where he/ she will live in Bulgaria

To get the temporary residence permit, following documents need to be provided in the Bulgarian embassy:

  • a notary copy of the Notary Act. This is a document which confirms that a person owns property in Bulgaria;
  • a certificate from the bank confirming that in the bank account there is not less than 3000 Leva. This might be any Bulgarian bank;
  • a copy of the foreign passport with a stamp of visa “D” and a date when the person crossed the border;
  • a criminal certificate confirming that the person was neither sued nor convicted;
  • a medical insurance for one year formed in Bulgaria.

The price of the temporary residence permit costs 500 Leva.

The pensioner also must have a certificate from the pensioning authority in Russia.

  1. What is the price of the communal services in Bulgaria?

These are the tariffs for the communal services in Bulgaria:

  • electricity – 17 stotinok per 1 kWt/h;
  • water – 1,7 Leva per 1 m3.

People living in Bulgaria pay approximately 1% of the minimal salary for water and electricity. They also pay for electricity, elevators’ maintenance and cleaning the common places of the residential buildings. This is about 4-8 Leva/ month.

The owners of the living complexes for individual consumption of the water and electricity as well as a maintenance fee which covers security, cleaning, swimming pool maintenance, repair works, The annual maintenance fee is about Euro 7-10 per 1 m2.

  1. What are the taxes and fees to be paid when buying property in Bulgaria?

  • a notary fee. It depends on the tax value of the property;
  • property registry fee. The amount of the fee is 1 % of the full tax value;
  • a local tax. The amount is calculated based on the rate identified by a local municipality. It can vary from 1 to 2,5% of the property value.
  1. DPA – what is this?

DPA is a detailed built-up area. The area of all the stores of the building is summed up irrespective of a purpose of using the property. For instance, there are 2 floors per 200 m2 each in the residential building. The total DPA would be 400 m2.

  1. What does «Construction with a completed internal repair» mean?

Many builders offer such a service, as «construction with internal repairs completed». As a rule, this price is higher than completion of the apartments per the standard projects. Upon completing all the works, a corresponding document will be issued. This means that the building is completed, there is a working sewage system, water pipes, other communications, the floor is covered with tiles or a laminate, the walls and the ceiling are painted.

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