— are buying a property for permanent residence or a move;
— are considering a seaside apartment as a “backup plan”;
— are planning to rent out the property;
— are choosing between a new building and a resale property.
First, determine the purpose: for permanent residence, rental, as a backup plan, or investment. This determines the location, type of apartment, and budget. Buying without a purpose is the main reason for unsuccessful transactions.
Most often, foreigners purchase studios and one-bedroom apartments, apartments in complexes, and resale properties by the sea. The property’s status, annual maintenance fee, rental availability, and actual maintenance costs are all taken into account.
Before the transaction, the property’s ownership, the absence of encumbrances, outstanding utility bills, and the conformity of the layout with the documents are all verified.
A reservation agreement is signed and a deposit is paid (usually €1,000–€2,000). The property is removed from sale, and the deposit is included in the price of the apartment.
A personal account with a Bulgarian bank or payment through a notary is required for payment. A residence permit is not required.
The transaction is conducted before a Bulgarian notary, either in person or by proxy, with a translator if necessary. After signing the notarial deed, the ownership is registered.
Registration with the tax office, re-registration of utility bills, decision on renting or residency, and, if necessary, apartment management.
Purchasing real estate does NOT automatically grant a residence permit. The transaction can be completed remotely. The primary demand is on the secondary market. Maintenance fees vary greatly between complexes.
