If you’re thinking for a move to Bulgaria, we’re here to assist. Let us help you with choosing the best offer from the current market. Now – how to buy property in Bulgaria as a foreigner?
Yes, foreigners can buy properties in Bulgaria
Citizens of European Union can buy property and land in Bulgaria under the same conditions as residents. For others, some restrictions apply. Like not being able to buy property with land, such as a house with a garden or a plot to build on.
Is it safe to buy property in Bulgaria?
Bulgaria’s property market is different from what you’re used to in your own country, particularly in terms of safeguards to protect buyers. There are some pitfalls to avoid, including fraud and misrepresentation. It’s nothing to worry about, because we will guide you through the process.
Average property prices in Bulgaria
The cost of buying a property in Bulgaria depends on what kind of property you’re looking for, and where it is located. So in general, Bulgaria is a lot cheaper than many other European countries when it comes to property prices.
To give you an idea of what you can get for your money in Bulgaria, let’s take a look at these numbers:
|Location||Apartment price in city center||Apartment price outside city center|
|Sofia||1800 eur/sq.m||1200 eur/sq.m|
|Bansko||500 eur/sq.m||500 eur/sq.m|
|Plovdiv||1000 eur/sq.m||750 eur/sq.m|
|Varna||1250 eur/sq.m||850 eur/sq.m|
|Burgas||1050 eur/sq.m||700 eur/sq.m|
|Veliko Tarnovo||680 eur/sq.m||480 eur/sq.m|
Taxes and fees
You’re also likely to have a number of extra costs to pay when you buy property in Bulgaria. Here are the main taxes and fees you need to know about:
- Transfer tax – 0.10% to 3%
- Notary fees – 0.10% to 1.5%
- Registration fees – 0.10%
- Estate agent’s fee – 2.5% to 3% (the seller also pays a similar amount)
You’ll also need to factor legal fees into your budget. This varies, but you can expect to pay from around 700 to 1200 euro for a real estate lawyer.