Bulgaria Guide: Property
Finding your dream home or even just a nice place to live is tough anywhere. Buying property is usually one of the hardest purchases any of us have to make. Check out our guide for pointers on getting it right in Bulgaria. We provide information about price ranges of different types of property in Bulgaria, the real estate market, paperwork, how to deal with estate agents plus info on renting out your home.
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Buying for investment
Essential advice
Bulgaria is growing in popularity as a holiday destination and many people believe that property values, which are as yet low compared with those in other western European countries, will rise as rapidly as they have done in Spain over the past two or three decades.
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Cost of Property
What you can expect to pay for a house in Bulgaria
Although Bulgaria’s currency is the lev, prices for most Bulgarian properties are quoted in euros, although in some areas popular with UK buyers prices are quoted in sterling. For a rough conversion of euros to sterling, multiply by 0.7; for US dollars, multiply by 1.25.
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Fees
Extra costs and taxes when buying property in Bulgaria
In addition to the purchase price, you will need to allow for the various costs associated with buying a house in Bulgaria. Property prices may be quoted inclusive or exclusive of agency fees, so make sure you know in advance whether agency fees are included in the price quoted and, if not, who will pay them.
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Purchase procedure
Buying a house in Bulgaria step by step
This article details the purchase procedure for buying a home in Bulgaria, which is slightly different from that in most Western countries. Although relatively straightforward, the procedure isn’t without potential problems and it’s therefore highly advisable to engage a lawyer who’s familiar with it before paying any money or signing a contract.
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Conveyancing
Paperwork necessary for buying a porperty in Bulgaria
Conveyancing (the legal term is conveyance, but conveyancing is more commonly used) is the processing of paperwork involved in buying and selling property and transferring the deeds of ownership. In Bulgaria, all legal procedures must be completed before a notary public.
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Letting
Regulations & Prospects in Bulgaria
If you’re planning to buy a holiday home in Bulgaria you might also be interested in owning a property that will provide you with an income to cover the running costs and help with mortgage payments. The most common method of earning money from a property is to let all or part of it.
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