How to buy a house in Bulgaria? This question is asked by many people, both those who want to move there for permanent residence and those who already live in the country on a rented apartment. And also simply wishing to invest in real estate. Let's try to answer the most common questions related to this.
Can foreigner buy house in Bulgaria and how do they do it?
According to the legislation of the country, foreigners can freely buy apartments, office premises, and apartments in Bulgaria. But the purchase of private houses, villas and land plots is prohibited.
But there is still a way to make such an acquisition. To do this, you need to open and register a company. And then it will be possible to make a purchase, formalizing the house on a legal entity.
Here is the answer to a common question: "Do I need Bulgaria Citizen in order to own land and houses in Bulgaria?". You do need citizenship, but you can go the other way.
Should I buy a house in Bulgaria and where?
Buying a house in Bulgaria is definetely worth it. If you plan to live in it, your own house will help you save significant sums on rent. If as an investment real estate will not only help you save your investment, but also earn on it by renting it out or reselling it in the future.
When choosing a region, it's a good idea to start by defining your goals. What do you need the house for? Do you want to live in it yourself or rent it out? If you want to rent it out, to whom? Tourists during the holiday season or students during their studies? Depending on this, you can choose a suitable community.
If you will live on your own, you have a passive income and no need to look for a job, then the choice can be made to your liking. If you need a job, determining the city, pay attention not only to the sights, infrastructure and availability of entertainment. Also find out if there are any open positions in your specialty.
There is no perfect place that would suit everyone. Therefore, where is the best place to buy a house in Bulgaria, everyone decides for himself, based on his needs and preferences.
Are house prices going to go up in Bulgaria?
Housing prices in Bulgaria will rise! They are growing all the time. Not rapidly, so that to cause any fears, but still systematic growth occurs. And the degree of this growth also depends on the type of real estate and the city in which it is located. For example, house prices in Sofia Bulgaria, and in resort towns, where real estate is more in demand, will grow faster than in the provinces.
How much is a house in Bulgaria, how much can I expect?
Average house prices in Bulgaria fluctuate in a fairly wide range. And depend on many factors. So, in a new building, the price will be twenty or thirty percent more expensive than in the secondary market. In small towns and provinces housing will be much cheaper than in resort areas or large cities.
On the website of the real estate agency Bulgarian Resales, you can view the offers and approximately orientate on the prices. The catalog is conveniently divided into categories to simplify the search. For example: luxury properties, apartments with sea view, properties in Sarafovo in Burgas, properties in Sunny Beach, inexpensive properties, studios on the coast, apartments, secondary properties, from builder, as well as houses and townhouses.
Why are houses so cheap in Bulgaria
At one point, due to low demand in the market and low purchasing power of the population, new houses were not built. But in the period from two thousand one to eight year, due to the influx of tourists and emigrants, there was a sharp jump in demand for new real estate. Many companies took up construction and saturated the market with offers.
Because of the great competition, prices fell slightly. Later they jumped up, especially in coastal and resort regions. But they are still the lowest among other EU countries.
Also, Bulgaria is a developing country, but with a low income, level of the population. Hence the low cost of housing, the prices of which directly depend on purchasing power.
Additional costs of buying a house in Bulgaria
In addition to the cost of the housing itself, there will be additional costs when buying it. It is necessary to be ready for them.
First of all, this is the cost of the agency that helps you with the search and purchase. Payment of notary services - about one percent of the cost of the object. Tax on the transfer of ownership, the amount of which depends on the various characteristics of the object and can range from one and a half to three and a half percent of the value. Registration fees - 0.1 percent of the value.
It is also necessary to pay for the opening of a bank account in Bulgaria and the commission for transferring funds.
After the purchase, it is necessary to sign a contract and pay the services of the management company, the so-called support fee. There is a property tax in Bulgaria, which can be paid quarterly or annually. If you pay once, you will be given a good discount.
Can I buy a house in Bulgaria on my own?
Theoretically yes. But to do this you need to live here and search hard, know the language and legislation. And, unfortunately, very often it turns out that as a result of such purchases, the buyer is left without a house and without money. And, when choosing an agency, be sure to pay attention to the fact that it has certification.
Our agency Bulgarian Resales has a license and is a member of the European Association of Real Estate Agencies, as well as the national commonwealth of real estate agencies in Bulgaria.
We have been operating on the market since 2007 and have a reputation of a reliable firm, capable of providing 100% security to our clients both when buying and selling homes.
Trust in, such an important matter as buying real estate professionals. We will help you find the right option and make a favorable deal. And if you still have questions such as: " how much is a house in Bulgaria?" or any other questions, please contact us. We will help you find the answers.
