Rights and obligations of foreign buyers in Bulgaria

Rights and obligations of foreign buyers in Bulgaria

Search for real estate in Bulgaria

Searching for real estate in Bulgaria is an exciting activity that requires attention to detail. Acquiring residential or commercial property in this country opens up a wide range of opportunities for foreigners. Apartments, studios, and flats are all available for purchase without restrictions. However, buying houses, villas, or buildings with land requires special permits.

Rules for acquiring land

Interestingly, foreigners can only acquire land plots through legal entities, by opening a company in Bulgaria. Although it is theoretically possible to lease land from the state, real estate without land is not usually offered on the market. is usually not offered on the market.

Rights after purchase

In Bulgaria, a foreign buyer receives all the rights and obligations that local residents have. They can register property in their name, obtain a mortgage from a bank, and use it for personal purposes or rent it out.

Tax duties

However, when renting out property, a foreign buyer must be attentive to tax issues. In Bulgaria, there is an income tax for individuals that is levied on income from renting out property. However, if the income does not exceed a certain threshold, the tax may be exempted.

International agreements

It should also be noted that foreign buyers of real estate in Bulgaria may be required to pay income tax in their home country. In this case, to avoid double taxation, it is necessary to enter into an international agreement to prevent double taxation.

Documentation

When purchasing real estate in Bulgaria, it is also important to pay attention to the overwhelming majority of documents that are drafted in Bulgarian. To protect their interests, foreign buyers can consult a professional translator or a lawyer who specializes in real estate.

Conclusion

As can be seen, purchasing real estate in Bulgaria is not as simple as it may seem at first glance. However, by choosing the right property and utilizing the services of professionals, one can make a profitable investment.

A flexible property tax system in Bulgaria

In Bulgaria, property tax can be paid in installments throughout the year. Payments are divided into four equal installments: the first until March 31, the second until June 30, the third until September 30 and the last until November 30. There is also the option of a single payment with a 5% discount. It is important to note that failure to pay the tax on time can lead to penalties that make it difficult to obtain a visa or residence permit. In case of systematic violations may result in the seizure and sale of property to cover the debt.

Features for tax residents of Russia

For Russian tax residents who live in Russia for more than 183 days a year, there are special rules. They are required to notify the Russian tax authorities about any opening of accounts in foreign banks or the establishment of legal entities abroad. This requirement is mandatory when conducting transactions involving real estate overseas.

Searching and buying real estate in Bulgaria

Bulgaria attracts foreign buyers with its openness and hospitality. To search for housing, one can use specialized online resources with a wide range of listings. For example, one such resource offers a database of real estate where you can filter listings by various parameters and receive notifications about new options. There is also a service for selecting real estate based on individual requirements.

Diving into the local real estate market

For a better understanding of the peculiarities of the real estate market in Bulgaria it is recommended to familiarize yourself with specialized articles and news about the country. It is important to follow the key materials related to buying real estate and living in Bulgaria.

Unique apartments in Nessebar, Bulgaria

We present you a spacious and comfortable apartment in the heart of Nessebar, a unique accommodation on the second floor of a hotel in New Nessebar. This apartment of 150 square meters with four rooms are available at a price of 155,550 euros. Act 16 guarantees the legality of operation, and the absence of maintenance fee makes this offer even more attractive.

Apartments in Sunny Beach

The "Oasis Real Estate" agency offers two-bedroom apartments with a sea view just 20 meters from the beach for the price of 83,500 euros. These apartments are located on the fifth floor of a residential building, fully furnished, and equipped with an elevator.

Real estate on the Bulgarian Black Sea coast

On the Bulgarian Black Sea coast, there is a variety of real estate available. Let's start with a cozy one-bedroom apartment in a quiet complex. The price of this property is 115,000 euros, and it is located in the picturesque village of Kosharitsa. This apartment has a total area of 143 square meters and is situated on the first floor. It is important to note that the annual maintenance costs 1,100 euros.

Residential homes at Bay View Villas

If you are leaning towards residential properties, you might be interested in a three-bedroom house in the Bay View Villas complex in the same area, Kosharitsa. This house, with a magnificent view of the sea and mountains, is priced at 115,000 euros. The total area is 143 square meters, and the house provides all the necessary comfortable living conditions.

Advantages of purchasing real estate

• Cozy plots with gardens and swimming pools
• Proximity to the sea and mountains
• Clean air
• Convenient location of the complex

Acquiring real estate on the Bulgarian Black Sea coast is an excellent investment both for personal living and for renting out during the tourist season. In today's world, seaside property is considered an attractive asset for both personal vacations and generating passive income.

Owning property in a foreign country is a great opportunity to broaden your horizons and enjoy a new level of comfort and coziness. Buying a home on the Bulgarian Black Sea coast is a chance to become the happy owner of a piece of paradise, where dreams of beautiful sea views, clean beaches, and a peaceful atmosphere come true.

A unique opportunity is opening up in Bulgaria to purchase a property on Sunny Beach for just 68,500 euros. This stylish apartment is a furnished studio with an area of 48 square meters located in the prestigious "Barcelo Royal Beach" hotel. The hotel is situated in the heart of the resort, within walking distance to the main promenade, markets, and supermarkets, and only 100 meters from the beach. The apartment is located on the fifth floor of a building with an elevator and offers a magnificent view of the resort complex. The studio is already equipped with all the necessary furniture and appliances, ready for comfortable living.

Offer of the company "NV-Company"

The company "NV-Company" offers for sale three-room apartments in Ravda. The total area of this apartment is 126 square meters. The building has been put into operation and has an Act 16. Payment terms include a deposit of 5000 euros and full payment upon signing the notarial deed of ownership. The maintenance cost for these apartments is estimated at 1500 euros per year.

Comfort Club Apartments in Burgas

Comfort Club" apartments are available in Burgas from "Oazis Realty" company, located in the promising neighborhood of Izgrev. promising Izgrev neighborhood. These apartments with a total area of 51 square meters are an ideal place for those who want to enjoy all the charms of the new borders of the city. place for those who want to enjoy all the charms of the new borders of the city, being close to the shopping center Plaza and the hypermarket KAZ. Plaza shopping center and Kaufland hypermarket.

The "Rodina 1" complex in Sveti Vlas

The "Rodina 1" complex in Sveti Vlas offers its apartments for the price of 59,000 euros. This is a two-room apartment with an area of 56 square meters, located on the first floor of a seven-story building. The maintenance fee for the complex is estimated at 450 euros per year, making life here comfortable and carefree.

Studio on Sunny Beach

At the bottom of the list is a studio on Sunny Beach from the company "Oazis Realty" priced at 25,000 euros. This apartment, with an area of 30 square meters, is located on the third floor of a four-story building. The maintenance fee is 580 euros per year, and the payment scheme includes a deposit of 2,000 euros and full payment upon signing the notarial deed of ownership.

• Bulgaria offers a wide selection of apartments to suit every taste and budget.
• Each proposal has its own unique advantages.
• All the technical details of the transaction must be scrutinized.
• It's important to choose a reliable seller.

In Bulgaria, there is a wide selection of apartments to suit every taste and budget. Each offer has its unique advantages, fully meeting the highest demands of clients. Before purchasing an apartment in Bulgaria, it is essential to thoroughly study all the technical details of the transaction and choose a reliable seller to make the right choice.

Searching for real estate in Bulgaria for foreigners

The possibility of independently searching for properties without legal restrictions exists; however, difficulties with documentation in a foreign language lead many to seek help from specialists.

Russian buyers in Bulgaria

Russians make up a significant part of foreign investors. Local agencies and real estate developers actively recruit Russian-speaking specialists to work with clients from Russia.

Opportunities through Russian agencies

In addition to local firms, real estate support can be obtained through Russian companies with international experience.

The role of a realtor in the transaction process

• Search and Selection:The realtor is looking for properties that meet the client's requirements.
• Organization of views:Assistance with travel arrangements for property inspections.
• Negotiations and agreements:Negotiating with the seller, coordinating the transaction procedures.
• Legal support:Preparation of documents, verification of the legal purity of the transaction.

Choosing a realtor in Bulgaria

When choosing a specialist, it is important to take into account the company's reputation, experience and client feedback in order to to prevent possible risks and fraud.

In some European countries, banks impose strict requirements on clients from non-EU countries. They may refuse service or complicate the account opening process by demanding additional documents, such as a tax number and proof of address. This makes it more difficult for foreign citizens to conduct transactions. As a result, buyers more often transfer money from their account directly to the seller's account in their own country. When both the buyer and the seller are citizens of the same country, payments can be made within that country.

The process of buying real estate in Bulgaria

After the agreement to buy a property in Bulgaria, the buyer must book the property by making a prepayment. an advance payment. This is usually not more than 3 thousand euros. The terms of the reservation and the main parameters are fixed in the contract. The advance payment is then taken into account in the total purchase price and transferred to the account of the agency. If the deal does not take place through the buyer's fault, he loses the advance payment.

International transactions in secondary real estate

International transactions for secondary real estate in Bulgaria do not provide for the return of a double deposit in the event of a failed deal.

The importance of choosing an intermediary

Choosing the right intermediary in real estate transactions is crucial. For a deal to be finalized, both the buyer and the seller must obtain a notarized certificate, which is prepared with the involvement of a notary and a translator. This document outlines the details of the transaction, including the volume, price, and payment terms. The notary conducts a verification to establish the status of the property and the legitimacy of the transaction, certifying ownership, the signatures of the parties, and the legal status of the document. The contract is drawn up in Bulgarian, and the notary serves as a guarantor for the fulfillment of the agreements.

An ideal place to invest

Bulgaria is the perfect place for foreignreal estate investments and for vacationing. The transaction is completed only after signing a notarial certificate in the presence of a notary. Payment is made via bank transfer to the seller's account. In this process, the notary ensures the correctness of the operations carried out and formalizes the transaction as an official document. The reliability and accuracy of the notary's work are the keys to a successful deal, so it is advisable to consult only professionals.

In 2020, remote real estate transactions became extremely popular in Bulgaria. To carry out such a transaction, the buyer must first arrange a power of attorney for a realtor in their home country and provide documents confirming the source of funds and their marital status. Although it is theoretically possible to do everything independently, in practice, it is complicated due to the language barrier, which is why in most cases, a specialized agency handles this.

The final cost of the property affects the additional expenses related to the transaction. The notary charges a fee that usually does not exceed 1% of the property's price. The municipal tax ranges from 1.5% to 3.5%, while state registration fees are about 0.1%. It's also important to consider the costs for translation services and post-sale registration.

Example of expense calculation:

• Municipal tax: about €880
• Notary's fee: approx. €300 (plus VAT)
• Registration in the property register: €30
• Translation services: €50
• Property registration: €150

Bank charges depend on the bank selected. Additional costs are calculated on the basis of The total value of the real estate. In rare cases when the cadastral value exceeds the market value, additional payments may be calculated on the basis of the cadastral value, with the exception of the realtor's commission. realtor's commission.

Real estate market in Bulgaria: changes and trends

In recent years, the real estate market in Bulgaria has undergone significant changes. Citizens of Russia, Ukraine, and other post-Soviet countries, who previously actively purchased affordable apartments for summer vacations and rental purposes, have now started selling more than buying. This trend began to emerge even before the pandemic, but during the period of closed borders, many decided to get rid of their properties in Bulgaria. The reason for this is not related to the quality of the houses themselves, but rather to the exchange rate of the ruble and an overheated market that experienced its boom a few years ago.

Nevertheless, resort real estate is still in demand, with the main buyers being Bulgarians themselves, as well as Germans, Poles, Israelis, and other foreigners. At the beginning of the restrictions, many expected a sharp decline in prices, but that did not happen. Overall, in 2020, property prices continued to rise across the country, and Bulgaria even ranked among the leaders in Europe in this regard.

The variety of offerings in the real estate market

The Bulgarian real estate market currently offers a variety of houses at different prices and in various cities. For example, in Balchik, you can buy a house for €99,000, in Venelin for €15,000, in Kraymorie for €195,646, a townhouse in Nessebar costs €460,000, and a large and spacious house with a magnificent sea view in Trakata is priced at €850,000.

All these factors make the real estate market in Bulgaria interesting for potential buyers. Despite the changes and trends, resort properties in this country continue to attract the attention of both locals and foreign investors.

Searching for unique accommodation in Bulgaria

When searching for unique accommodation in Bulgaria, you might want to consider a charming two-story house in the Elenite complex. With an area of 106 sq.m., this house offers a spacious kitchen-living room, cozy bedrooms, and bathrooms, creating a comfortable living space. The first floor also features a convenient restroom, a hallway, an entrance area, and a terrace overlooking the pool and the green area of the complex.

A house in the village of Debelt

If you are looking for housing near the sea, you should consider a house in the village of Debelt, just 15 km from Burgas. This two-story house, with an area of 145 sq.m., offers convenient access to the main road and is only 13 km from the Meden Rudnik neighborhood. Built in 1991, this house provides the opportunity for a quick move-in and living.

House in the village of Goritsa

The village of Goritsa, located 46 km from Burgas, offers a two-story house with two bedrooms, two bathrooms, an area of 125 m², and a land plot of 350 m². The village is known for its developed infrastructure and convenient location, just 37 km from Pomorie and 25 km from Nessebar.

Partially renovated house in the village of Debelt

If you're looking for a house that you can decorate to your taste, consider this partially renovated house in the village of Debelt. With an area of 100 sq.m., it includes two bedrooms, a living room with a kitchen, and an internal bathroom. The walls and floors are plastered, allowing for personalized design changes.

House in the village of Trystikovo

In the village of Trystikovo, there is a house with an area of 80 square meters, which offers four rooms and three bathrooms. Located at the end of the village, yet not far from the center, the house is in excellent condition and only requires cosmetic repairs to update the interior.

House in the village of Tynkovo

For those looking for spacious accommodation with plenty of bedrooms, a house in the village of Tynkovo, with an area of 165 sq.m., would be suitable. The house has three bedrooms, three bathrooms, a large living room, a functional kitchen, and a fireplace that creates a cozy atmosphere. This is the perfect place.

Looking for the perfect home in Bulgaria? You'll find a variety of unique options, from cozy cottages in quiet corners to luxurious residences with panoramic sea views. One notable option is a house in Goritsa, offered for 46,000 euros. This charming two-story house, with an area of 100 square meters, provides plenty of space for comfortable living. The first floor features a spacious hallway and a convenient kitchen, while the second floor has two cozy bedrooms where you can relax after a long day.

Plot of land

The plot of land on which the house stands covers 1450 square meters, giving you the freedom for creative landscaping and the creation of your personal paradise. This house is the perfect retreat for those who value tranquility, privacy, and closeness to nature, without sacrificing the comforts of civilization.

Luxury and exclusivity

For those seeking more luxurious and exclusive accommodation, a cottage in Sinemorets is available for 400,000 euros. This cottage is located in a gated community consisting of 10 stylish buildings designed in traditional Bulgarian style. Here, you can enjoy hiking and horseback riding in the forest, rafting on the Veleka River, and sea excursions. This place will be a paradise for nature and outdoor enthusiasts.

Comfort and space

Another option is a house in Elenite, offered for 189,000 euros. This four-bedroom house has a total area of 217 square meters and is located in a gated cottage community, within walking distance of Robinson Beach. The complex is equipped with everything necessary for comfortable living and relaxation, including a swimming pool and a recreation area.

View of the sea

If you dream of a house with a sea view, then a cottage in Kosharitsa for 145,000 euros could be your ideal choice. This three-story house, with an area of 185 square meters, is located in the "Sunny Hill" complex and offers a magnificent view of the sea. The house is sold fully furnished and equipped, allowing you to move in right after the purchase.

Comfort and convenience

For those who value comfort and convenience, there is a house option in Biała for €149,900. This three-story house has a total area of 113 square meters and is located in a complex with a swimming pool and parking, offering excellent sea views. It is perfect for both permanent living and vacationing.

Idyllic country house area

Finally, an option in the dacha area of Sveti Nikola is a two-story house for 369,000 euros. This spacious house of 160 square meters is located in an idyllic countryside area, near the sea garden. It offers coziness and comfort, suitable for a family or for a vacation with friends.

A choice for all tastes

Thus, the real estate market in Bulgaria offers a wide selection of houses and cottages to suit all tastes and needs. Whether you are looking for a secluded home in a natural setting or a luxurious house with a sea view, you can find the perfect option for your family and lifestyle here.

In conclusion

I would like to point out that Bulgaria is a very attractive country for foreign buyers. real estate. Here you can buy both residential and commercial real estate. In addition, the owner real estate in Bulgaria gets the right to a multi-visa and many other benefits associated with staying in the country. country. However, one should not forget the responsibilities that are imposed on each property owner, such as paying taxes and complying with the laws of the country.

For those looking to purchase real estate in Bulgaria, our website offers a convenient search and professional consultation from specialists. Take advantage of our services and buy your dream in Bulgaria today!