.jpg)
Lithuanians — as EU citizens — are increasingly buying holiday property on the Bulgarian coast: studios and 2–3-room apartments within walking distance of the sea, most often in Nessebar, Sunny Beach and St. Vlas. The main reasons are affordable prices (studios from €19,000) and rental income potential. The transaction can be completed remotely; the booking deposit is €3,000, and a Bulgarian bank account will be required. EU citizens can use a simplified residence permit procedure, followed by permanent residence.
In 2022, we noted a record increase in demand for holiday properties by the sea in Bulgaria from Lithuanians. In early 2023, the trend continued. Applications from Lithuanian citizens continue to be actively received by us.
Who submits applications? Lithuanians who:
- They want to have a studio / apartment within walking distance from the beach and have a family vacation in the summer on the warm Black Sea, and not the cold Baltic.
- They are thinking about moving to Bulgaria after retirement, in order to be able to live inexpensively by the sea and indulge in delicious, fresh fruits almost all year round.
- They would like to profitably invest small savings in European real estate by the sea.
If you are interested in buying a holiday home on the coast of Bulgaria, this article is specially prepared for you!
Why do Lithuanians buy property in Bulgaria?
- Availability
In Bulgaria, studios, two- and three-room apartments, as well as houses and cottages are much cheaper than in Greece, Spain or Montenegro.
Actual housing prices in May 2023 in popular resort cities in Bulgaria:
| City | Studio | 2-room apartment | 3-room apartment |
|---|---|---|---|
| Nessebar | from €34 000 | from €48 000 | from €89 000 |
| Sunny Beach | from €19 000 | from €35 000 | from €39 000 |
| St. Vlas | from €30 000 | from €49 000 | from €51 000 |
| Ravda | from €42 900 | from €47 500 | from €60 000 |
| Pomorie | from €33 500 | from €46 500 | from €56 900 |
| Sarafovo | from €40 000 | from €46 700 | from €97 000 |
| Sozopol | from €66 900 | from €70 000 | from €105 500 |
| Burgas | from €45 000 | from € 58 000 | from €82 000 |
| Varna | from €50 000 | from €90 000 | from €120 000 |
- Prospects
Housing by the sea can bring a stable rental income. Every year, from the beginning of June to mid-September, several million tourists from the CIS countries and Europe come to Bulgaria for vacation. In 2022, about 10 million people vacationed at local resorts. Many rent housing rather than stay in hotels. In Sunny Beach, renting a studio costs from €30 per day, and €50 for a two-room apartment.
“Our managers are well aware of which properties are in high demand among tourists. We will help you buy a studio or apartment that will bring good rental income. We will honestly and objectively explain the advantages and disadvantages of the properties you like. We will give advice and help you make a promising choice.”
In 2022, resort property prices in Bulgaria reached a record peak in the last 10 years. The market continues to experience high demand that exceeds supply. Experts predict a slowdown in price growth, but there are no prerequisites for a sharp drop in the cost per square meter.
“We have been operating in the resort real estate market in Bulgaria for many years. We know the trends very well. We understand which housing is the most promising for investment. By partnering with us, you gain access to our market expertise. Let us help you make the right choice.”
What kind of real estate do Lithuanian citizens choose to buy?
Lithuanians often buy small studios or apartments with two or three rooms near the Black Sea coast. They prefer properties 10-20 minutes from the beach. Country houses or private villas are less often of interest.
At the top of demand is the municipality of Nessebar. From Lithuanians, we receive applications for housing in Nessebar itself, as well as in Sunny Beach and St. Vlas. There are several supermarkets, many restaurants and cafes. The transport infrastructure is well developed. There is a hospital, a fire department and several banks. Burgas International Airport is nearby (about half an hour by car).
In Sunny Beach, many modern apartment hotels have been built over the past few years. It is easier to find the option that best suits your needs and budget.
Lovers of a relaxing holiday and mountain scenery choose St. Vlas.
Who, apart from Lithuanians, buys property by the sea in Bulgaria?
Citizens of Germany buy three-room apartments, houses and cottages on the 2nd-3rd line from the sea. They are less interested in studios.
Poles are more likely to buy two- and three-room apartments in new apart-hotels, near which there are grocery stores.
Israelis usually buy small studios or two-room apartments to spend their summer vacations at the seaside, and also rent out these residential properties at other times.
The British are interested in apartments with two or three rooms. The purpose of the purchase is to spend a summer vacation with the family or to live permanently by the sea in retirement.
“A couple of years ago, resort housing in the south of the country was most often purchased by Russians. However, the latest events of 2023 affected the real estate market — citizens of the Russian Federation began to sell their apartments and houses. As a result, Europeans became the main buyers.”
What should a Lithuanian know about the process of buying a home?
The stages of the sale and purchase transaction are simple and transparent. After the start of the pandemic, transactions are often carried out remotely.
- Choice of housing
A convenient filter will help you select properties by several parameters. To get acquainted with a property, you can view the photos. On the map you can see its location. After you select several options, we can organize their viewing.
“We understand that photographs and a mark on the map are not enough to fully understand the condition of a property and the infrastructure around it. We can send videos of the apartments you like. We also offer a video tour of the area.”
- Booking a property
When a property is selected for purchase, a booking agreement must be concluded with the seller. A security deposit of €3,000 must be paid.
To pay the deposit, and then the rest of the amount for the apartment, you will need a Bulgarian bank account.
The amount of the advance will be taken into account when paying the total cost of the apartment. The advance payment is placed in our agency’s bank account until the deal is closed. If the transaction does not go through due to the fault of the seller, the amount of the booking deposit will be returned to your account.
“Payment of the deposit is preceded by an online check of the property. We make sure it is legally clear. By the day the contract is signed, we will receive a legal document from the court.”
- Contract signing
Within a month after the conclusion of the preliminary contract and the preparation of all necessary documents, the sale will be formalized at the notary’s office. Immediately after signing the transaction, it will be necessary to pay the remaining amount for the selected housing, minus the amount of the paid deposit. After 7 days you will be provided with a notarized certificate of ownership of the apartment.
- Utility contracts
It is necessary to sign a new contract with the management company that maintains the apartments. You also need to update contracts for water, electricity, internet and other services.
Support fee rate — from 6 to 15 euros per square meter.
What will be the costs of maintaining the property?
- Housing tax — from 0.15% to 0.25% of the value of the property.
- Utility tax — from 0.14% to 0.45%.
- Management company services — from 6 to 15 euros per square meter.
- Electricity — during the day €0.061 per kWh, at night €0.071 per kWh.
- Water supply: €2.5 per cubic meter.
How to move from Lithuania to Bulgaria?
Given your EU citizenship, you can obtain a residence permit in Bulgaria under a simplified procedure. It can then be renewed every year for five years. After that, you can apply for permanent residence status.
Frequently Asked Questions
Why do Lithuanians buy property in Bulgaria?
Property on the Black Sea is noticeably cheaper than in Greece, Spain or Montenegro, summers are warm, and apartments can be rented out. Many buyers also consider retiring in Bulgaria or investing modest savings in European real estate.
How much does holiday property by the sea cost?
Based on May 2023 prices, studios start from €19,000 (Sunny Beach), 2-room apartments from €35,000, and 3-room apartments from €39,000. Prices vary by city, from Sunny Beach and Pomorie to Sozopol, Burgas and Varna.
What deposit is required for booking, and why is a Bulgarian bank account needed?
A booking agreement is concluded with the seller and a €3,000 deposit is paid. A Bulgarian bank account is required to pay the deposit and then the remaining amount. The advance is counted toward the total price and is held in the agency’s account until the transaction closes.
Can the purchase be completed remotely?
Yes. Since the pandemic, transactions are often handled remotely: property selection using filters and photos, property videos and a video tour of the area, online legal checks, followed by formalization at the notary’s office.
What are the costs of maintaining the property?
Housing tax is 0.15%–0.25% of the property value, utility tax is 0.14%–0.45%, management company services cost €6–15 per m², electricity costs €0.061 per kWh during the day and €0.071 at night, and water supply costs €2.5 per cubic meter.
Does EU citizenship provide advantages when moving?
Yes. An EU citizen can obtain a Bulgarian residence permit under a simplified procedure, renew it annually for five years, and then apply for permanent residence.
