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What is the status of Bulgarian real estate market? Bulgaria has been a politically stable country with preferential conditions
and guarantees for foreign investors. It offers excellent business opportunities
and has investment growth potential. Bulgaria real estates prices are
lower than other destinations in Europe but the estimated acceptance of
Bulgaria in the European Union will certainly boost the prices of Bulgaria
real estate in the near future. This makes Bulgarian real estates market
very attractive and profitable. What are transfer fees when buying a property in Bulgaria? There are notary and municipal fees, connected to the process of buying
property in Bulgaria. The notary fees are paid on the higher of the market
price or the book value of the property at varying rates, specified in
a special notary chart. In addition to this 2 % municipal fee on the market
price or book value is paid to the municipality, where the property is
located. Is there Value Added Tax on transactions with land and lease of property? Transactions with land and lease of property for residential purposes
are exempt from Value Added Tax /VAT/. All other real estates transactions
are subject to VAT, which is 20 %. The buyer/ lessee is entitled to a
VAT refund, provided that it is registered for VAT purposes. What is your agent fee? The agent fee is not included in the price of the property. The commission is 3 % of negotiated sale price and it is due on the day of signing the sale contract, 2 % agent's commision by signing the contract to use our services in finding the property Preparation of all necessary documents and legal services are included
in the commission. How do we travel to Bulgaria? There are chartered flights in summer and winter, and during the other time there are regular flights. Do foreign citizens need visas to Bulgaria? I. Holders of valid ordinary passports from the following countries do not need visa for a visit to Bulgaria for a period of up to 90 days within each period of six months: Austria, Belgium, Chile, Cyprus, Denmark, Finland, France, Germany, Greece, Iceland, Italy, Latvia, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden. II. Holders of valid ordinary passports from the following countries do not need visa for a visit to Bulgaria for a period of up to 30 days within each period of six months: Andorra, Australia, Canada, Estonia, Ireland, Israel, Japan, Liechtenstein, Monaco, New Zealand, Switzerland, UK, USA, the Vatican. For passport holders of countries, enumerated in this section, a visa is neede only if: • their stay in Bulgaria should exceed 30 days, or • they require multiple entry visa for a longer period of time or a long – term visa. III. Holders of valid ordinary passports do not need visa to enter Bulgaria in accordance with acting international agreements: Croatia, Czech Republic, Hungary, Lithuania, Macedonia, Malta, Republic of Korea, Poland, Romania, San Marino, Slovak Republic, Slovenia, Tunisia, Yugoslavia. IV. Holders of passports from countries not mentioned in I, II or III need a visa to enter Bulgaria. For example Russian citizens need and entry visa to Bulgaria. Only Russians, who have residence in Bulgaria, or behold diplomatic or business passport, as well as crew members of ships and planes do not need visa to enter Bulgaria. Entry visa to Bulgaria is free of charge to Russian citizens, who are under 16, are participants in international, cultural sports, educational and other events, as well as railway and post staff and officials. All the rest Russian citizens have to pay consular fee and the value of the entry visa. These depend on the kind of the entry visa, which may be:
/ towa da se smetne w rubli I sled tova da se prevutne w EUR, zashtoto
ne znam kak stava/. What are the living costs in Bulgaria? Living costs in Bulgaria are extremely low. For example food is generally twice cheaper than UK. House insurance is about 100 - 200 EURO per year in dependence on the type of house, its belongings and the furniture inside. For a property of price 30 000 EURO insurance against theft, flood and fire costs about 125 EURO. The gas system is not developed in Bulgaria yet. People here mostly use electricity to cook. For heating: there are central heating systems in the big cities. For a two - bedroom apartment it costs monthly about 120 EURO. For electricity when used for cooking, light or hot water one pays about 50 EURO monthly. Local and national taxes for owing a property in dependence on the location of the property are around 80 EURO per year. |
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