Bulgaria

Property in Bulgaria is the fastest growing asset the country has to offer investors. Last year alone the property prices in Bulgaria rose more than 25 % in general although in some investments "hot spots" real estate rose more than 50 % in one year, especially in regions such as Sofia, The Black Sea beach resorts (Sunny Beach) and the ski resorts (Borovets, Bansko). The efforts the Bulgarian Government has made in improving the Countries economic conditions and political and social stability have lead to a stable yet very real boom to property prices throughout Bulgaria. Another important factor to be taken into account for sustainable growth in the property market is the huge tourism potential the country has to offer. There are outstanding natural attractions - spectacular mountains and miles of beautiful clean Black Sea coast. This together with preserved rural areas, minimum urbanisations and thousands of years of history has made Bulgaria one of the fastest growing investor markets in Europe.

How easy is it to buy?

Buying in Bulgaria has similar challenges to buying in any foreign country but is not particularly more or less difficult than anywhere else. The one specific relevant law to be taken into consideration is that a foreigner is currently prohibited from owning land in Bulgaria. This is easily overcome by forming a Bulgarian registered company with yourself as sole director and beneficiary. That company can then buy and own both the house and the land freehold. That whole procedure is fully recognised under Bulgarian law.

In order to make it easier for all our oversees clients to have their property deals finalised we have recently launched a unique secure online interface providing you with a completely safe way to lock your selected property in, thus ensuring no one else is able to compete for it. We are currently 'fine-tuning' our totally remote procedure for purchasing your new property in Bulgaria without you having to come over at all. Please contact us for more details and information.

Costs of buying/Timescales

Legal fees for setting up a company and doing the conveyance will be approximately £500.

State Tax (Stamp Duty equivalent) is 2% of purchase price and other legal and notary fees are less than 2%.

Timing - it takes couple of days to sign the preliminary contract with the deposit/downpayment (usually 10% of agreed price) to lock/secure the selected property in, then a week or so to form a company and then a few weeks to notarise the deal. So the overall process when using our knowledge and services is much faster than in most countries.