For many years Bulgaria is a recognized leader among the foreign countries where Russians are buying real estate.
Did you know?
According to statistics, about 500 thousand items owned by approximately 350 thousand citizens of the Russian Federation, and therefore, the share of buyers from Russia, among other foreign buyers is about 80%.
And even despite some reduction in the Russian demand in recent years and the increase in the number of Russians who have sold their property, Bulgaria does not lose the leadership position.
Why Russians buy property in Bulgaria
Cheap real estate and affordable prices.
In comparison with other areas of the resort, Bulgarian property offers the best ratio quality-price. In 2020, to buy an apartment in Bulgaria one bedroom apartment in first line to the sea is possible from 15,000 euros. The average price in the range of 350-800 euros per square meter.
The cost of living in Bulgaria is practically no different from the average for Russia.
Year-round tourism.
Bulgaria – all season resort destination with outstanding, sea, ski resorts, developed winemaking and unique natural attractions.
Numerous Russian Diaspora.
The Russian Diaspora is the most numerous in Bulgaria at some seaside resorts, such as St.Yatom Vlas, Sunny beach, there are entire Russian-speaking neighborhoods. In resort areas the majority of locals trying to speak in Russian.
Attractive conditions for pensioners.
The country has a simplified scheme of issuing residence permits to foreign pensioners in the presence of own or leased real estate.
Bulgaria belongs to the 2 in the world after Iceland in the number the mineral springs. There are many unique natural monuments, 10 of which are included in the UNESCO list.
European integration.
Bulgaria is a country of the EU with the European law and justice, and in the future is a full member of the Schengen area.
Easy transaction and reasonable tax burden.
To design a house or flat in property to a foreigner is only necessary passport. And purchase costs of housing, including all taxes and fees do not exceed 4.5% of the purchase price.
Read more: Pros, cons and pitfalls of the real estate in Bulgaria
Features of the Bulgarian housing market
A ban on the sale of land to foreigners.
If you are going to buy a house in Bulgaria, consider a legislative ban on the sale of land for non-EU citizens. This restriction does not apply to flats and apartments.
Buying a home possible in the registration and registration of land the legal entity.
Differences in the calculation of living space of apartments.
In Bulgaria the net area is slightly less than nominal. The discrepancy is due to the fact that in Bulgaria in living space includes the thickness of external walls and the proportion of common parts of owner of the housing (terraces, stairwells, Elevator platforms, etc.).
Before you select an item to request information on the area of the apartment from our Manager.
Mortgage and installment.
Bulgarian banks offer a mortgage at 3-4% per annum over 10 years. However, to get a mortgage Russian Bulgarian Bank is almost impossible – see the mortgage in Bulgaria.
Alternatively, it is possible to buy an apartment in installments up to 10 years. Bulgarian developers provide interest-free installments for 1-3 years and if a longer term under 3-7% per annum.
The presence of maintenance fees.
The owners of apartments in residential complexes and apart-hotels pay an annual fee for maintenance of the residential complex. This payment something like utilities. Usually the fee is, support is calculated based on the area and the apartment is from 100 to 900 euros per year.
If you do not want to bear the extra costs, it is possible to buy property with no maintenance fees. To this category belong most of the private houses and the usual city apartment. Learn more about the maintenance fee.
The process of purchasing real estate
Study tour and the selection.
When you purchase real estate, our company organizes familiarization tour for free (lasts several days).
The backup object. Make a Deposit of € 2,000, signed reservation agreement, the date of the transaction. The Deposit must be paid in cash to the seller or transferred to pre-open a Bank account.
Important: If the apartment is purchased in installments is additionally a preliminary contract with the developer, which is prescribed phase-out schedule of payment and other terms of the transaction.
Notarization of the transaction. The transaction is made by a notary in the presence of buyer and seller or their legal representatives.
There is a full calculation with the seller, is paid the state tax and notarial fee.
Check documents. A notarial deed is registered in the court of public registry (BULSTAT) of the tax inspection.
In BULSTAT act, you must register within 7 days, tax – in for 2 months
Renewal of contracts with utility providers.
Specific deadlines for renewal of contracts are not specified.
The whole procedure takes on average 2-4 weeks.
The buyer needs 2 times to come to Bulgaria:
The selection and reservation of the object.
The underlying transaction and registration of documents.
You may not personally present on the transaction, and to appoint a legal representative. For this it is necessary during the first visit to notarize a power of attorney and 3 of the Declaration.
The company "BolgarskiyDom.com" offers assistance in buying property in Bulgaria on the sea and in the mountains. For 12 years we have helped hundreds of citizens of Russia and CIS to become owners of Bulgarian property and settle in this country. We guarantee a thorough check of objects and full transaction support. In the directory on our website of over 5000 apartments, studios, houses and villas.
Our clients from Russia
- Marina and Viacheslav (Saint-Petersburg)
- Location: Russia
- Region: Sunny beach
- Read more
- Tatiana (Moscow)
- Location: Russia
- Region: St. Vlas
- Read more
Where to buy property in Bulgaria
To move to Bulgaria for permanent residence better suited major cities – Varna, Nesebar, Burgas, Plovdiv, etc. If we talk about the type of property it is just a normal apartment building without maintenance fees. Such housing is better suited for year-round use.
The average price for a one bedroom apartment in Varna is 45 000 €, and the house is 60 000 €. But in Burgas to actually purchase an apartment in a new residential building near the sea only for 35 000 €.
If you plan to use accommodation for holidays and renting out, it is best to stay on the resort complexes of the black sea coast – Sunny beach, Sveti Vlas, Ravda, Nessebar. Here, the demand in the summer months is quite high, however, the downside is that in winter the apartment will be idle.
For year-round rental suitable black sea cities – Varna and Burgas. The apartment is easy to rent even in winter.
Read the tips for those who want to buy property in Bulgaria with a view to its subsequent lease!
If you want to live on the coast, we can consider the option of apartments in apartment buildings or residential complexes at a certain distance from the sea. These apartments are cheaper and are located in quieter areas.
If you want to improve your health, choose the property in Spa resorts like Pomorie, Sandanski, Velingrad. The cost per square meter in these areas is 300 to 500 euros.
