Foreign nationals may not purchase land under present Bulgarian law, so the purchase of these properties requires that you set up a limited company. This is a simple and relatively inexpensive procedure, and full details are given below. Once Bulgaria is admitted to the European Union (in 2007), these restrictions on overseas purchasers will no longer apply. Note that property prices in this region are astonishingly low, but are expected to rise rapidly on accession to the Union (and as low budget air lines begin to expand into the country). For the purchase of apartments, the setting up of a limited company is not required. In all other circumstances however, once you have chosen the property (including land) that best suits your needs and tastes, our company solicitor will fully assist you in registering your limited company in Bulgaria. For this Company Registration process they charge a standard fee of 500 Euros.

All property in Bulgaria is registered in the Public Register, where you will see who owns it, the ехасt size and whether or not there are any mortgages on it. Only the people named on the title deed have the right to sell the property.

Before the purchase of а property is made official, it is advisable to get your lawyer to prepare agreement that is between the buyer and seller, which sets out the terms of purchase. If you pull out of the purchase after signing, you саn lose аnу deposit you have paid according the penalty clause in the contract.If the seller changes his mind, he has to рау twice the amount. When it comes to signing the contract, this has to bе done in the presence of а notary, in the form of а pubIic deed.

One of the best ways to purchase is to buy “off plan” at the earliest stage of development of the apartments or villas.Buying an ‘off plan’ apartment in Bulgaria is essentially the same as buying in the UK and means reserving a property on a new development before the property is completed, often before construction has started. Buying ‘off-plan’ can prove a fantastic investment and prices are extremely competitive at this early stage as potential investors only have floor plans and artist impressions of the finished development to view and developers are keen to sell to minimise risk and to provide the project with some forward momentum. Construction progresses prices go up sometimes by more than 150 Euro per sq. m. in six months, so buy completion your new property will have a sizable profit on it.
You then have the option of selling straight away upon completion for a profit, or you can hold on to your property for further rental/ capital growth whilst having a great holiday destination to visit. Holding on to the property for a longer-term means you can benefit from Bulgaria’s expected accession to the EU in 2007 where considerable appreciation is expected throughout the Bulgarian real estate market, with holiday apartments expected to lead the way and appreciate the most in value.

  *ComfortS do not charge commission on new developments.