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Buying property in Bulgaria

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Why should you buy a property in Bulgaria?

Here is an all-season country, where you can sunbathe on the beach in summer, and ski on the mountain slopes in winter. It is never too hot, and never too cold.

Bulgaria is a beautiful country now emerging from dormancy. After a difficult period of change with the demise of communism, it is now waking up to an era of economic recovery.

As a result of this, the standards of infrastructure in areas of natural beauty, historical interest and health cures are also rising.

At the present time holiday homes in Bulgaria are relatively cheap, compared to countries like Spain, but this situation is changing rapidly.

Bulgaria joined NATO in 2004, and is due to join the European Union in 2007, when a huge increase in property prices is predicted.

Detailed map of Bulgaria (282KB)

Detailed map of the Black Sea Coast (405KB)

Browned off with Spain?

Bulgaria is green!

The following information is general. Good advice is available at the web site of the British Embassy in Sofia.

The legal aspects of property purchase by foreigners in Bulgaria are complex and difficult. If any land is included in the purchase, they involve establishing a Bulgarian company for the foreign buyer, which buys the property. The foreigner is allowed to own the company which owns the property. Exhaustive searches of records are also made, because of the claims on the property which can be made by members of the vendor's family, and which must be settled before the purchase. The cost of legal work is usually about €1,000, including all disbursements. It is also necessary to start a Bulgarian bank account with approximately €1,875. This can be withdrawn a few days after the company is established, but is usually used as part of the deposit for the property.

For information about taxes on rental income, capital gains and local authority taxes, refer to the PricewaterhouseCoopers Bulgaria Real Estate Tax Summary.

On 18 February 2005 MPs from all political parties voted in parliament for the amendments on land sales in Bulgaria's constitution, bringing it into compliance with EU legislation. There will, however, be a seven-year transition period (until 2014) before foreigners who are not permanent residents of Bulgaria at the time can buy land. EU citizens will be entitled to such sale under the Accession Treaty. Both EU and non-EU citizens will be entitled to purchase land under an international treaty, and under the heredity law. The lawmakers agreed also on constitutional amendments concerning partial transfer of powers from Bulgaria's official institutions to the European Union, as the EU acquis communautaire will become supreme law for the country on its accession.

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