Can Expats buy property in Bulgaria?

What are the pitfalls of buying property in Bulgaria?

The most common mistakes made when buying a property in Bulgaria can be summarized as: Paying a deposit to reserve a property. The seller insists that a lower price is put on the title deed (tax evasion). Feeling that you are the weak party when you are the market maker.

Can English Buy House in Bulgaria?

Since 1 January 2012 all EU and EEA (European Economic Area) citizens are allowed to buy land in Bulgaria. This applies to houses with gardens, all plots that are within the zoning of the settlements, apartments coming with shares of the land, offices and other commercial properties.

Is Bulgaria good for real estate?

Bulgaria still has some of the lowest real estate prices in all of the European Union. While prices are currently rising, the time for investing is now. … The capital city, Sofia, and some of the other big cities, such as Varna, Plovdiv, Ruse, and Burgas, are among the other preferred investment locations.

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Can I get a mortgage in Bulgaria?

Buying a property in Bulgaria through mortgage is a very popular option. … You should have in mind that the Bulgarian banks do not grant the full amount needed to buy the property. Usually you can get credit which is equal to 60-90% of the property value.

Where is the best place to buy property Bulgaria?

If you are looking for permanent residence, the best choice are the big cities. Such as the capital of Sofia, Burgas, Varna, Plovdiv where life is in full swing throughout the whole year. If you prefer quiet living, you can buy a home in small towns like Nessebar, Pomorie, Sozopol or Aheloy.

Can I retire in Bulgaria?

Bulgarian offer favorable conditions for retired people to get a residence permit, and then move to live in Bulgaria. A Long-term Residence Permit stays in the country can be obtained by any foreign pensioner who has a place to live and enough money to stay in Bulgaria.

Can I live in Bulgaria after Brexit?

If you are a citizen of the UK or a family member of a citizen of the UK, who at the date of Brexit have a valid residence permit, issued by the Republic of Bulgaria, you will retain your residence rights in Bulgaria and you can use your permit up to 1 year after the end of the transition period or up to the expiry of …

Can non-EU citizen buy property in Bulgaria?

Bulgarian law allows non-EU citizens to buy property in Bulgaria with some limitations. All non-EU natural or legal persons can buy apartments in Bulgaria on their own names, provided that the apartments don’t come with ideal parts of the land on which the apartments were built.

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Is it safe to live in Bulgaria?

Bulgaria is generally safe for expats. Foreign citizens, businesses or organizations are rarely targeted. Most occurrences of crime are restricted to the large urban areas. … Most locals will maintain that they have experienced one type of crime or another, but these are rarely violent or serious crimes.

Can a foreigner get a mortgage in Bulgaria?

Both permanent and non-permanent resident aliens can obtain mortgages in Bulgaria, pretty much like Bulgarian citizens. The mortgage application process as well as the interest levels and conditions will be very similar to that of BG citizens.

Do you pay council tax in Bulgaria?

Every owner of a property in Bulgaria has obligation to pay council /local/taxes to the municipality where the property is situated.

How long does it take to buy a house in Bulgaria?

After paying the deposit a preliminary agreement with the owner is signed within 30 days. The agreement settles the basic conditions which will later be copied to the Notary Deed.

Can I buy property in Bulgaria after Brexit?

In Bulgaria, non-EU citizens are allowed to buy built property and in this case they are treated exactly as EU citizens. Non-EU citizens, however, are not allowed to acquire land, so if a British national wants to buy a country house with yard, this may no longer be possible as an individual.

How much is property tax in Bulgaria?

All property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property.

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