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Are you dreaming of your own home by the sea, but the high prices in Spain or Italy are holding you back? For Latvian citizens, there is a more affordable and closer option within the EU. Bulgaria offers not only some of the lowest property prices and most affordable living costs in the European Union, but also a straightforward purchasing process for EU citizens. Imagine spending less on the upkeep of a sea-view apartment than you do on utility bills in Riga!
In this article, we will walk you through, step-by-step, how to turn this dream into a reality – from selecting a property to receiving the keys and legalizing your stay. No complex jargon, just real figures and expert advice. Discover how to avoid common pitfalls and make your move from Latvia to Bulgaria as smooth as possible!
What You Will Learn from This Guide
| Section | Brief Overview |
|---|---|
| We'll compare the pros and cons, cost of living, and climate with Latvia. | |
| We'll go through all 7 steps – from searching to registering your ownership. | |
| We'll explain how EU citizens can obtain a residence permit in Bulgaria. | |
| We'll break down all payments – from property tax to utility bills. | |
| We'll explore the best places to buy property – by the sea or in the capital. |
Bulgaria vs. Latvia – An Objective Comparison of Two Countries
The decision to buy property abroad requires careful analysis. Let's compare the key aspects of life for Latvians in Bulgaria and in Latvia, so you can understand where your money will go further.
Cost of Living – Where Your Money is Worth More
Bulgaria consistently ranks as one of the most affordable countries in the EU. For a Latvian planning to relocate, this means an opportunity to either save significantly or enhance their quality of life while maintaining their usual level of spending.
Key Economic Differences in Figures
| Aspect | Riga (Latvia) | Sofia (Bulgaria) | Varna (Bulgaria) |
|---|---|---|---|
|
1-bedroom apartment rent (city centre)
|
~508
|
~588
|
~494
|
|
Price per m² to buy (city centre)
|
~2,657
|
~3,171
|
1,200–1,500€
|
|
Utilities (85 m² apartment)
|
~284
|
~131
|
~107
|
|
Monthly transport pass
|
30€
|
~26
|
~26
|
|
Meal in an inexpensive restaurantе
|
15€
|
~10
|
~8
|
Prices have been converted from BGN to EUR and updated for 2024–2025 based on Numbeo data.
The Tax System – Bulgaria's Undeniable Advantage
In this, Bulgaria wins by a huge margin. This factor is particularly important for pensioners, investors, and remote workers.
Tax Rate Comparison – Latvia vs. Bulgaria
| Tax Type | Latvia | Bulgaria | Your Gain in Bulgaria |
|---|---|---|---|
|
Personal Income Tax
|
20% – 31% (progressive scale) | 10% (flat rate) | You keep significantly more of your income. |
|
Rental Income Tax
|
20% – 31% (as part of income) | 10% (flat rate) | Ideal conditions for investors. |
|
Annual Property Tax
|
0.2% – 0.6% of cadastral value | 0.1% – 0.45% of tax assessment value | Property ownership is cheaper. |
Low property taxes in Bulgaria make long-term ownership very profitable. However, when buying a property in a complex, always clarify the annual "maintenance fee," as it can be comparable to the tax amount.
Climate and Environment – A Compromise in Your Favor
Want to trade the cold Baltic for the warm Black Sea? Bulgaria attracts with its warm climate, featuring hot summers and mild winters, especially on the Black Sea coast. It has everything – from sandy beaches to ski resorts like Bansko.
A word of caution:
If you are sensitive to air quality but want to live in a large city, when choosing a home for year-round living, prioritize coastal cities or select districts with modern heating systems.
How a Latvian Citizen Can Buy Property in Bulgaria – A Step-by-Step Plan
The purchasing process for EU citizens is simple and transparent, provided you follow a clear algorithm and pay special attention to the legal integrity of the transaction.
Current Market Situation – A Buyer's Market for EU Citizens
In recent years, the Bulgarian property market has undergone a significant shift. Against the backdrop of geopolitical events, Russian citizens, who were previously active investors, have begun selling their properties. The resulting gap is being actively filled by Europeans, including Latvians. This creates a unique situation – many attractive offers have appeared on the market, and demand from EU citizens is steadily growing.
Notably:
Latvians are not the only ones who have discovered Bulgaria. Germans tend to buy houses and spacious apartments, Poles prefer apartments in modern complexes with swimming pools, while Israelis and Britons invest in properties for summer holidays and rental purposes. This indicates the market's broad international appeal.
Step 1 – Defining Your Budget and Choosing a Region
Latvians are primarily attracted to Bulgaria by the opportunity to buy inexpensive property by the sea. Prices here are significantly lower than in other EU coastal countries.
Starting Prices for Property in Popular Resorts
| Resort | Studio (from) | 1-Bedroom Apartment (from) | 2-Bedroom Apartment (from) |
|---|---|---|---|
|
Sunny Beach
|
19,000€
|
35,000 €
|
39,000 €
|
|
St. Vlas
|
30,000 €
|
49,000 €
|
51,000 €
|
|
Nessebar
|
34,000 €
|
48,000 €
|
89,000 €
|
|
Pomorie
|
33,500 €
|
46,500 €
|
56,900 €
|
|
Ravda
|
42,900 €
|
47,500 €
|
60,000 €
|
|
Sozopol
|
66,900 €
|
70,000 €
|
105,500 €
|
|
Burgas
|
45,000 €
|
58,000 €
|
82,000 €
|
|
Varna
|
50,000 €
|
90,000 €
|
120,000 €
|
Buying for investment purposes also looks attractive. The return on investment for property is good, and seaside properties can be rented out. The average daily rental price for a studio in Sunny Beach is 30€, and for a one-bedroom apartment, it's 50€.
Step 2 – Legal Due Diligence of the Property
This is the most critical stage for protecting your money. What needs to be checked:
- Seller's title of ownership – ensure they are the sole and legitimate owner.
- Presence of encumbrances – check the official Property Register for any mortgages, liens, seizures, or legal disputes.
- New-build status – for new properties, the presence of an Act 16 is crucial. This document confirms that the building is officially commissioned and safe for habitation. Buying a property without an Act 16 is a huge risk.
If you are choosing a property remotely, ask the agency about the possibility of ordering a "Neighborhood Walk" service. A manager will film the surroundings and the building, helping you get a more complete impression.
Step 3 – Reservation and Signing of Contracts
If the property is legally sound, the subsequent process is as follows:
Reservation Agreement.
You pay a deposit (usually around 3,000€), which fixes the price and takes the property off the market.
Preliminary Contract.
This is the main legal document that outlines all the details of the transaction, including price, deadlines, and payment schedule.
Notary Deed (Title Deed).
The culmination of the process – signing the final contract at the notary's office, after which you become the rightful owner.
Some real estate agencies offer to hold the deposit in their bank account. This carries certain risks. A safer option is to use a special escrow account of a lawyer or notary. Always clarify this point before transferring any money.
Moving from Latvia to Bulgaria – Legalizing Your Stay for EU Citizens
As EU citizens, Latvians enjoy maximum privileges when relocating. You do not need a visa, and the process of buying property and legalizing your stay is as simple as possible.
Obtaining a Residence Permit (for EU Citizens)
If you plan to stay in Bulgaria for more than three months, you need to register your stay. The process is simple and fast.
What You Need for Registration – A Quick Legalization Checklist
| Requirement | What It Means for You |
| Proof of Grounds | As an EU citizen, you don't need to prove a complex purpose. Your status and intention to reside (e.g., based on property ownership) are sufficient. |
| Financial Means | You need to show you have funds to live on. A bank statement (around 1,000€ in the account), a salary slip, or a pension certificate will suffice. |
| Health Insurance | Your Latvian EHIC card is perfectly suitable for the initial stage. Later, you can arrange local insurance. |
| Proof of Address | Your Notary Deed of ownership for the purchased property or a valid rental agreement will work. |
The entire process of obtaining a residence certificate for EU citizens usually takes just a few working days after submitting the application to the local "Migration" office.
After five years of continuous residence, you have the right to apply for permanent residence, which grants almost all the rights of a Bulgarian citizen.
The Financial Side – Taxes and Property Maintenance
In addition to the purchase price, it is important to calculate all associated and annual costs in advance to ensure that property ownership does not become an unpleasant surprise.
Costs at Purchase – What to Budget For
| Expense Item | Percentage of Value / Amount | Purpose |
| Property Transfer Tax | 0.1% – 3.0% (depends on the municipality) | Local purchase tax. |
| Notary Fees | 0.1% – 1.5% (progressive scale) | Payment for notary services to certify the deal. |
| Registration Fee | 0.1% | Registration of your ownership right in the property register. |
| Legal Services | 0.5% – 2.0% or €500–€1,500 | Payment for your lawyer's work. |
| VAT on New Builds | 20% (often already included in the price) | Levied only when buying from a developer. |
Always check with the developer whether VAT is included in the advertised price of a new build. An unexpected 20% can seriously affect your budget.
Annual Maintenance Costs
Property Tax:
Very low, 0.1% – 0.45% of the tax-assessed value.
Waste Collection Fee ("taksa smet"):
Also calculated based on the tax-assessed value.
Maintenance Fee in Complexes:
If the property is in a complex with a pool and security, an annual service charge is levied. It can range from 6 to 15€ per sq.m. per year and can become a significant expense.
Utility Payments:
Electricity, water, internet.
When choosing a property, pay special attention to the heating system. Central heating is not available everywhere in Bulgaria, and heating with electricity in winter can be very costly. The energy efficiency of the building is your key to saving!
Now You Are Ready to Make an Informed Choice
Bulgaria truly represents an attractive opportunity for Latvian citizens. Now is the chance for a Latvian citizen to buy property in Bulgaria at one of the lowest prices in the EU! As well as enjoy the warm climate and the sea, and also significantly reduce monthly expenses thanks to the low cost of living in Bulgaria and a favorable tax system. The simplified procedures for EU citizens make relocating from Latvia to Bulgaria and legalizing your stay as accessible as possible.
You now have the full picture and a clear plan of action! The next step is to start searching for specific offers. If you need help with property verification or transaction support, contact the BolgarskiyDom real estate agency to make your journey to a life in Bulgaria easy, stress-free, and financially secure. We are waiting for you!
Although Sofia may be comparable to Riga in some aspects, the main savings for movers are achieved through lower prices for groceries, transport, and utilities, especially in coastal regions.