Buying property in Bulgaria: risks and pitfalls.

Buying property in Bulgaria: risks and pitfalls.
Compatriots who want to buy property abroad pay attention to Bulgaria. It is one of the inexpensive countries for the purchase of apartments. On the territory of the Balkan state there are resorts – sea and mountain. Housing is sold everywhere, choose and invest.
Dear readers! The article tells about typical ways of solving legal issues, but each case is individual. If you want to find out how to solve your problem – contact a consultant:
Where it is better to buy property in Bulgaria?
The coast is divided conditionally into northern and southern:
In the north, apartments in Verne are popular – they are bought for permanent residence, summer holidays in Bulgaria. On the southern coast the climate is not wet. In this part of the Baltic state, complexes are built and, as a result of competition, # 8212; democratic prices. Buying an apartment in the capitals & # 8212; this is a relatively reliable investment. Before deciding where to buy a living space in Bulgaria, decide what you are getting it for.
Pros and cons.
Let’s compare the negative and the positive sides:
Excellent, healthy climate; democratic value of products that are environmentally friendly; The price per square meter in the country is inexpensive – this refers to the secondary, and to new housing; It is not necessary to issue a visa.
Of the cons are the following aspects:
The acquisition of an apartment for investment purposes is unprofitable. Bulgaria is in the European Union, it can not enter the Schengen zone – this is not liked by many countries in Europe. The cost of apartments and houses in the Baltic state will remain in remission for a long time. If you plan to buy housing for citizenship, do not flatter yourself. In Bulgaria, you can only take a residence permit that requires an annual confirmation in a Bulgarian bank – pensioners 1000 euros, working 2000 euros – for houses, apartments and studios. Real estate in the countryside, can buy exclusively Jurassic. person, will have to register a firm. Houses are sold with land, for its purchase for foreigners have introduced this rule. To register a company a little, you will have to pass a zero declaration twice a year to the local tax authorities. Do not pass the report, there will be problems with the firm, and as a result – with real estate. The desire to buy an apartment for rent – alas, it is unprofitable. Do you want to rent an apartment in the summer, and live in the winter? it is worthwhile to understand that the electricity bill in winter is large and amounts to 75 euros for an apartment of 60 squares. It is not bad to rent an apartment for 11 months, and one to live there, but it is difficult to find such tenants.
Costs for maintenance and purchase.
With electricity, sorted out, but there is a considerable amount of other costs:
Protection, pond, cleaning of the area, maintenance of housing – 15 euro per 1 square of real estate; Water – euro per cubic meter; Tax on garbage, more precisely, for export, depending on the location of the property. Pay once a year & # 8212; 0,2%, from the price of the apartment. Property tax – 0.15% of the price prescribed in the purchase and sale agreement.
For the purchase of housing you will spend approximately:
Advance payment – 2,5 thousand euros. The remaining amount must be paid upon receipt of Act 16 (for primary housing). 90% of the prepayment is contributed to the secondary housing, 10% from the notary when signing the purchase and sale. You need to open an account with the Bulgarian institution of the bank, for making payments. The account needs to be declared in Russia, so as not to expose the fine. For the transfer of funds is taken commission: 50-500 euros for the operation. You can not attend the transaction, you have to pay 40 euros for a notarized document. To register a property in BUSTLAT (cadastral chamber), for 7 days, or a fine – 300 euros, registration costs 20 euros. For the possession of property will have to pay 5% of the price of real estate. Notary fee – 1,8 thousand euros. Tax on municipal housing – 2% of the purchase price.
Underwater rocks.
Over the past 5 years, 200 thousand Russian citizens have acquired property in Bulgaria, this indicates the increased popularity of houses and apartments in the Baltic state. In most cases, these are resort towns on the coast.
Looking at the number of transactions carried out for the purchase of real estate, it seems that there are no difficulties in buying housing in Bulgaria. This is not so – there are a lot of risks, and unforeseen situations, we’ll talk about them.
The nuances in the acquisition of Bulgarian housing include:
Counting the squares of the living area of the apartment and the common-house squares.
The area of the apartment consists of the sum of these characteristics. The first is the residential area of the apartment. The second is the total area (corridor, balcony, staircase, staircase, doors, wall thickness).
The thickness of the walls is calculated and divided between the tenants of the house equally.
Electricity is paid for by a common meter.
This is an optional condition, it is better not to agree. In order not to pay for the energy consumed not by you. Put a meter in the apartment, sign a separate contract, with a separate tariff for the night and day. In Bulgaria, electricity at night is cheaper.
If you buy housing in a new house is required Act 16.
This is a document where you can settle into your apartment. In our country it is an act of putting the building into operation. Do not rely on Acts 15 and 14, for which you do not have the right to settle. These documents are issued at intermediate stages of construction.
Is it profitable to buy in Bulgaria?
There is no unequivocal answer, it all depends on the purpose of the property. If there is a desire to obtain a residence permit, the transaction will be beneficial. Prices for real estate, household products in Bulgaria are much lower than in Moscow or St. Petersburg.
If you buy for renting, arriving for vacation once a year, it is worth considering whether you are ready to be constantly attached to one resort all the following years.
Rent an apartment or house is also unprofitable: all the summer earnings can simply go to pay for services in the winter, you will periodically spend money to visit the country to track your property – are you ready for this?
In any case, the decision to take solely to you. Catch nuances and only then decide whether it is profitable.
Mandatory to action.
It is worth considering the following points:
Do not forget that people live in Bulgaria, and there are enough scammers. Do not sign acts and treaties without careful, detailed study. Turn to a real estate agency with a good reputation & # 8212; it will save money, time and nerves.
Bulgarian real estate experts advise, for the successful completion of the purchase procedure in Bulgaria:
Do not buy housing o�chn about, it is better to go to the site and see. Do not rely on the photos of the apartment, they can be unreliable. Upon arrival for inspection, find out whether the infrastructure is well developed, how public transport goes, whether there are kindergartens, shops, hospitals. Look around the area, with the building built. Find out about the neighbors – this is important for further living. Do not trust the local foreman, invite the familiar specialists. They will appreciate the condition (plumbing, electrical, and other communication systems). If there are many shortcomings and hidden defects, the cost of the apartment will be significantly reduced. Hire an independent lawyer is a must. The small cost of paying it can save you a lot of money and eliminate the trouble from the wrong transaction. The Bulgarian lawyer will be able to verify the seller’s documentation package, encumbrance. Be vigilant when buying an apartment in Bulgaria, it’s better to secure yourself than to regret later.
Is it worth it to buy exactly in Bulgaria and why exactly there?
Buy property in Bulgaria is for retirees who want to go to the seaside, and live there permanently. For pensioners in the Baltic state comfortable conditions.
For young people, it is advisable to buy real estate in the event that the plans include an annual three-month stay in the apartment, during the rest.
In other situations it is worthwhile to think carefully how much the purchase is appropriate.
Personal experience.
In the video below, Svetlana Petrova shares her experience of buying.
Still have questions? Learn how to solve your problem – call now:
I want to buy a house in a borough in Burgas. Was recently there, opened an account with a bank to transfer money from Moscow. Then take them off and settle with the seller. I’m a pensioner, an invalid. Whether my actions are justified or not. Write, please, what should I do in my situation.
Hello Nell, to transfer money from Russia to the Bulgarian bank is quite legal. Keep in mind that most of the banks are converting currencies through dollars. Open a foreign exchange account with a Russian bank and the same in Bulgarian. Make the transfer and, depending on the seller’s desire, convert the dollars into Bulgarian lions.
Why such problems with opening an account in Russia? You can absolutely safely bring money through the red corridor at the airport, just fill in 3 pieces of paper-declarations. Everything is legal. Upon arrival, put the money in the Bulgarian bank and that’s it. Carry in the euro. I do not think you have millions there. In Bulgaria, the euro is stable and you will not lose any money (1 euro = 1.95 leva).
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