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Bulgarian Properties

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FAQ

Bulgaria Frequently Asked Questions

Bulgarian property search
Due to the great technological development at recent days, you already able to review the whole Bulgarian property market on the web. Thus, you have the opportunity to look at the huge properties collections on different Bulgarian websites and when decide which properties you really like, send an email to the chosen online provider with all questions you might have about the particular suggestions, using the "contact us" box, typically located under the photos for every offer. If you want to view some of these buildings, you need to arrange a trip to Bulgaria and tell this to your properties provider. Then they will set all necessary appointments for you and naturally could help you with all specific information you should know.

Bulgarian property market - current prices
Property prices in Bulgaria constantly increase at recent days, but property still remains excellent value for the moment. Generally said, a basic rural cottage can be purchased for about 5000 pounds, but expect to pay significantly more in you want particular new property in one of the beach resorts or cities. You could always check the specific "Property" section on the websites of various Bulgarian online real estate providers to get an idea of what you can buy for your money.

How to see the buildings that we are interested in?
If you tell your properties provider in advance when you will arrive in Bulgaria, they can arrange different viewings to fit your schedule effectively enough. Most of them do not charge any viewing fee, but they still could charge you about 20 cents per kilometer. In the most cases they will also arrange your accommodation and meet you just at the airport.

What to take with us when arriving to Bulgaria for the first time?
Naturally, you will need your passport and probably some euros if you want to place your deposit immediately. So, it could be extremely useful for you to keep in mind that you have the option to bring up to 4000 euros each time in Bulgaria without you should declare it. We could recommend you to bring some sturdy shoes if you search for properties in the country or near the mountains, as some of them could occur to be less accessible than others.

How to reserve a real estate if we like it?
In this case you should pay a deposit, most often about 10 per cent of the whole price and 1000 euros minimum, which is non refundable. This ensures you that this property will be immediately removed from the market and not sold to anyone else.

Can we use a credit card or travelers cheques when buying?
Travelers cheques are cashed only in the big towns and they often charge high commissions on them. You can pay your real estate provider using your credit or debit card instead. Keep in mind that normal cheques take about four weeks to clear and generally they are not suitable for payments, especially for placing a deposit.

Could we buy our new real estate without traveling to Bulgaria?
Yes, this is possible, but sometimes it is not so straight forward. You will have to get documents signed and stamped in the United Kingdom. So, it is often easier and quicker to come to Bulgaria for a couple of days and sort everything out here. Thus, you will be able as well to see the property.

Will we obtain some specific ownership documents for the new real estate?
Yes, you always will have title deeds in your name, or if you buy the building through a company, your company name.

What if we decide to have some renovations carried out on our new property?
Of course, your real estate will be able to recommend you a complete range of professional tradesmen who will work to the budget that you set them. Then you just need to tell them your requirements and negotiate the different options with them.

What are the legal requirements about our company tax returns?
Every year you have to submit your annual tax return - it is the same as in the United Kingdom. Remember that most of the Bulgarian real estates providers work together with confident accountants that could do this instead of you.

Do we need a visa to arrive in Bulgaria?
Nowadays, all citizens of the countries from the European union have the opportunity to stay in Bulgaria up to ninety days in every six months. If this period is longer, you should apply for a specific "type D" visa in any Bulgarian embassy.

What about the cost of living in your country?
Generally said, compared with the English prices, the cost of living in Bulgaria is extremely cheap. A loaf of bread, for example, is about 20 pence, a pint of lager - about fifty-five pence, and a packet of cigarettes - about 70 pence. A liter of petrol most often costs about sixty pence. On the other hand, it is not possible to compare living costs in Bulgaria and Western Europe. House insurance in Bulgaria usually costs around 100-200 euros per year for the different buildings and contents, depending on mainly the type of house. For some property with total price of 30 000 euros, insurance package against theft, flood and fire costs about 125 euros per year in most larger insurance companies such as Allianz. On the other hand, there are central heating systems in the big cities, which monthly costs around 100 euros for apartment with two bedrooms.

Driving a car in Bulgaria
There are few annual fees that you also should pay every year to drive a car in our country - third party insurance about thirty euros per year, road tax, depending mainly on the engine power - around fifty euros annually for a 2,0 liter engine and MOT from twelve euros per year. Most cars in Bulgaria are equipped with LPG systems, which is cheaper and more environmentally friendly than petrol.

Which telephones can we use in Bulgaria?
Generally said, it is not worth bringing over an English stationary phone for your new property as they will not work in Bulgaria. Instead of this, remember that mobiles will work, either with a Bulgarian SIM card or using your English card if it is enough suitable.

 
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