Buy property in Bulgaria

Buying property has never been easier: our agency offers a ‘turnkey’ service – a comprehensive solution for clients who value their time and money, supporting them from the moment they first contact us right through to moving into their new home. Buying property in Bulgaria works as follows: selecting a property and showing it to the client (in person or online); checking the property’s legal status; paying a reservation fee of €2,000 to reserve the property and take it off the market; paying the purchase price in accordance with the terms of the contract; opening a bank account; completing all the necessary paperwork (at a notary’s office, registration with the Land Registry, obtaining the Notarial Deed of Ownership); handover of the keys. At our agency, the entire process takes one month; however, if you are buying a second-hand property with a completed tax valuation and cadastral plan, or a property with Act 16, the transaction can be completed in a matter of days. Translated with DeepL.com (free version)

Financially, buying property from a developer will be more profitable (roughly by 20-30%), but you need to be ready for possible nuances: handover of the property may be delayed indefinitely (not all developers fulfil their obligations in good faith). Resale housing is notable in that it is already ready for occupancy, since it already has everything needed for living. The nuance is that some property on the resale market needs renovation, and that means additional costs. If you are looking for flats for renting out and earning income — choose modern gated new-builds; for a quick move to permanent residence, resale housing is an option. Our agency offers only reliable developers and sellers whom we always vet, so that the transaction is safe for both parties.

Buying property in Bulgaria requires additional costs, and they usually make up about 3-4% of its value. Among them: purchase tax (2-3%), notary services (1-2%), registration of property ownership (about 0.1%), municipal tax (0.1-0.3%), and lawyer's services for verifying the legal cleanliness of the property. When buying a property in a new gated residential complex, take into account the annual maintenance and support fee. It is important to understand that without paying for all these services the transaction cannot be completed, so we recommend budgeting 4-5% (with a buffer) of the property price for fees, taxes and services.

To reserve a property, the buyer needs to pay a reservation fee of €2,000. It guarantees that the flat, apartment or house will be reserved for you at the price fixed at that moment (for 30-60 days) and removed from sale on the website. After reservation, the client should open a bank account and pay for the property according to the contract's schedule. The €2,000 deposit is returned if the contract terms were not fulfilled. When the buyer withdraws from their obligations, the money is not returned.