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Country profile

If you want to better understand how to go about buying a property in the country of your choice, take a look at our country profiles. We have summarised the process for you and identified the latest hotspots for overseas investment

Brazil Bulgaria
Cyprus France
Greece Italy
Panama South Africa
Spain

Find a service in Bulgaria
 

Hotspots

Sofia has always been an exciting place to visit; you are able to see the forgotten history of the Thracian, Greek and Roman Empires, along with that of the Bulgarian Empire in medieval times. The Bulgarian property boom is very visible in Sofia and this has led to an impressive modernisation programme.

In the summer months the prime locations lie on the coast of the Black Sea. The biggest and most popular cities are Varna and Bourgas, but markets such as Albena and Zlani Pyasaci (‘Golden Sands’) are emerging.

The active should look to the mountains, where there is plenty of hiking and skiing in the winter. The most developed and popular resorts are Bansko in the Pirins and Borovets in the Rila Mountains. However, the Vitosha Mountain, which is the location of Bulgaria’s 2014 Olympic bid, is gaining rapid recognition.

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Bulgaria is a strong developing market that gives property investors a wide variety of choices, whether you seek adventures on the piste in the western mountains, sunshine on the Black Sea coast during the warmer months, or you simply enjoy exploring the history of a capital city that dates back to 800 BC.
The Property Buying Process

Currently foreign nationals are only allowed to buy buildings, but may not own land; although that is due to change very shortly thanks to Bulgaria's accession into the EU.

In order to buy a property with land you must first set up a Bulgarian registered company (see Fees and Taxes). Once your company is registered it is a straightforward process. You need to get an agent and lawyer. The latter can be from either the UK or Bulgaria, and will draw up a preliminary contract, at which point a 10 per cent deposit is normally paid.

 

Fees and Taxes
Expect to pay fees totalling about 8 per cent of the purchase price, made up of the following:
  • Legal fees average 3 per cent.
  • Agents' fees can be between 2 and 3 per cent, although these are often paid by the seller.
  • 2 per cent property tax paid to the local municipality.
  • Initial fees to set up a company are €1,000 and a €2,000 deposit needs to be paid into a company bank account, which is normally put toward the purchase price once the company is properly established.
Property Costs

Starting prices for apartments in Bulgaria are still very low at €30,000 in smaller coastal towns such as Sveti Vlas and €40,000 for one-bedroom apartments in ski/golf resorts like Bansko.

But with the dramatically changing landscape of property investment in Bulgaria over the past few years, property costs have been fluctuating, making it difficult to gauge average prices.

The bigger coastal properties remain the most expensive at about €600 per square metre in Varna and Bourgas.

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