Bulgaria is still one of the cheapest places in Europe to buy property, but prices are rising fast as more and more people discover what an amazing country Bulgaria is.
The benefits of moving to Bulgaria are many, not only is your quality of life likely to be far better, your lifestyle healthier, and your stress a long forgotten memory, but owning a property in Bulgaria can be a sound financial investment.
Find out who needs a D Visa for Bulgaria and how to successfully complete the application process.
But how easy is it to buy property in Bulgaria
The law regarding buying a property in Bulgaria is fairly straightforward:
- EU citizens or citizens of the European Economic Area can buy both the property and the land it sits upon.
- Non EU residents can buy property but not land.
Before we start a reminder: it is a good idea to use a professional real estate agent / realtor than can navigate the documentation and the procedures around the closing of the property.
We have pre-screened professional realtors with reputation and experience that can execute. Find a Trusted Realtor by Realistimo here.
Watch our video about buying real estate in Bulgaria:
Can a Non EU Foreigner Buy a Home in Bulgaria
Any foreign national can buy a property in Bulgaria but they will not be able to purchase land.
Interest from American buyers has grown steadily in recent years. If you're considering investment or relocation, see why Americans are moving to Bulgaria and investing in property
Buying Property in Bulgaria After Brexit
Post Brexit the process for buying a home in Bulgaria may at first seem like a lot of hassle, but it is not as daunting as it would at first appear and most real estate agents will do everything for you anyway.
So what do you need to do when buying a property in Bulgaria?
The biggest change to the home buying process since the UK left the EU is that you will need to form a company to buy a house in Bulgaria.
Sofia is one of the top destinations for property buyers in Bulgaria, offering strong investment potential and a vibrant lifestyle. Before deciding, explore the pros and cons of moving to Sofia to see if it’s the right city for you.
You can buy an apartment in your own name as long as there is no land as part of the sale (this would be extremely unusual to be offered the land or part of the land though).
Setting up a Bulgarian company is an easy process and most estate agents will be with you every step of the way.
To set up a company you will need:
- A valid passport for each owner of the company.
- An address for correspondence, this must be a Bulgarian address and often the estate agent will be able to provide you with a temporary address to use.
- A unique company name. This is just so you can buy a home so the actual name is not that important.
What's Healthcare Like in Bulgaria? Explore firsthand experiences with Bulgaria's healthcare system, highlighting affordable doctor visits, efficient emergency services, and modern dental care.
How to Set Up a Company to Buy a Bulgarian Property for UK Nationals
- Take copies of your passport and the above information to a lawyer who will prepare the necessary paperwork to register your new company. This takes only an hour or two.
- The completed paperwork is then taken to a notary who will confirm your identity.
- Next you will need to open a business bank account and deposit a nominal sum, usually just a couple of leva.
- You will need to order a company stamp which costs around 40 leva.
- The lawyer will take all your documentation and present it to the courts for them to approve your company set up.
- The registration of your company can take between 5-60 days.
Note that even if you have a dormant company that was only created to buy a property that each March you must complete a financial statement for the tax office.
The Pros and Cons of Moving to Varna
How to Buy a Property in Bulgaria for UK Nationals
Once you have found your Bulgarian home the buying process is extremely quick, forget the months and months that it takes in the UK, I have found, bought, and moved into a house in less than 2 weeks.
There will always be a translator present when you have any official dealings, which you must pay for, but costs only about 40 leva.
Once you have found your forever home in Bulgaria you will be asked to sign a preliminary contract and pay a deposit of about 10% of the asking price. Read this contract carefully and ensure that the amount of money you have paid is clearly stated.
The estate agent will then take the property off the market.
Discover the real cost of living with this detailed guide on how much it costs to live in Bulgaria.
The seller will then take the following paperwork to the lawyer who will ensure that it is all present and correct:
- A plan (skitser) of the property.
- Proof that there are no outstanding taxes or debts on the property.
- The deeds of the property.
- A government valuation of the property
Once the lawyer is happy that everything is present and correct they will be forwarded to the Notary.
- The Notary will then change the property into your company name.
- Once the paperwork is all completed both the seller and the buyer go to the Notary office to complete the sale.
- The Notary then arranges for the paperwork to go to the courts and government agencies to register the property in your name.
- A day or so later you go back and collect the paperwork which is now in your name.
- The Notary will have notified the municipality of the change of ownership because you will now be liable for the property tax which is due every March (as will be your car tax).
- You must then go to the water and electricity companies to register as the new owner.
The Pros and Cons of Moving to Stara Zagora
How Much Does it Cost to Buy a Property in Bulgaria?
As a percentage of the selling price, these are the average costs of buying a property in Bulgaria.
- Property Transfer Tax: 1% to 4%.
- Notary Fees: 1% to 2.5%.
- Registration Fees: 0.5%.
- Estate Agent Fees: 2.5% to 5%.
- Translator Fees: Between 30-50 levs.
In total expect to pay 3% to 8.5% of the selling price in buying costs. Of course these are average figures and will depend upon the region you are buying in and the services that your estate agent offer.
In nearly every situation, for the peace of mind and ease of buying a property in Bulgaria, the agent fees represent excellent value for money.
What's the Average Cost of Living in Bulgaria
Real estate listings in Bulgaria
If you are still wondering if moving to Bulgaria is a good idea, check out the amazing opportunities and the prices of homes in the country.
Some of the cheapest real estate properties in the European Union are located in Bulgaria. At Realistimo.com you can find fresh real estate listings Sofia (the capital of Bulgaria) as well as seaside properties on the Back Sea in the region of Varna and region of Burgas.
The Pros and Cons of Moving to Burgas
Explore the most popular Bulgarian seaside resorts like Sunny Beach, Golden Sands, Nessebar and Sozopol.
Buying a Property in Bulgaria: Things You Should Also Know
- Estate agent fees vary between 2.5% to 5% of the property value. Get connected with a professional estate agent here.
- Property taxes are not fixed nationally and will vary between municipalities.
- Any agent can usually sell any property unless the owner states otherwise.
- Properties are advertised by square meters not the number of bedrooms.
- Mortgages are available by most major banks. Get connected with a loan speacialist here.
- When buying an apartment the square footage may include common areas which are not suitable for living purposes.
- Property is usually priced by what the vendor or real estate agent think they can get for the property rather than what it is actually worth.
- Check out similar properties in the same area, you can often negotiate a lower price than that which it is advertised for.
- Be wary of freshly painted properties. Often a property is given a fresh lick of paint and advertised as a partly renovated property.
- Never buy a property without viewing it first. Many properties have been on the market for years and often old pictures are used to advertise them.
- Bulgarian houses are not built to western standards. Walls can be made from wood and mud, bricks often have zero cement between them, and roofs will rarely have a waterproof underlay unless they are new. Floors of houses are often mud with a carpet thrown over them.
- You get what you pay for. There are many solid old homes that just need updating, then there are also homes that are extremely cheap and only good for demolition.
- Most property transactions, for the average home buyer, take place in cash.
- Most people tend to buy property in Bulgaria without a mortgage although mortgages here are becoming more common. Note however that if you default on a mortgage and your home does not have enough equity to cover the debt that the bank will seize any other assets you have to cover the debt.
- If buying a brand new property in Bulgaria ensure that it has been given an Act 16. This shows that the building has passed all necessary assessments and is fit for habitation. It is not unusual for a new build to be sold with only an Act 14 (states that a building is in the construction stage) or Act 15 (complete but not yet ready for habitation). Always seek good legal advice when buying a new build home.
Learn how Artificial Intelligence is transforming real estate in Bulgaria, helping buyers and investors make faster and smarter property decisions.
Most professional estate agents will handle every aspect of your purchase and often have builders who can make any repairs that you may need.
Be cautious though. As in any country there are good and bad tradesmen and you should always seek recommendations from independent sources. Many expats get ripped off when having work done so be careful.
Don’t expect the repair work to be done to western standards. Although there are some excellent expat and Bulgarian companies offering work to such standards, you will pay correspondingly high prices, not always the case, but generally.
Equally I have found many excellent local trademen who work to an extremely high standard at very good prices. In the villages especially they will recommend the best and cheapest people to use for any work you need doing, from digging over the garden to replacing the roof.
Labour is plentiful and cheap in Bulgaria, and although materials in recent years have skyrocketed in price, you will still pay a fraction of the costs in most other countries to renovate your home.
Property in Bulgaria is extremely good value for money but you should look at a home here as an investment in a way of life, an investment in your quality of life.
Many UK nationals have tried to bring their homes up to UK building standards at huge expense but they will very rarely get that money back if they try to sell them.
That said, a UK spec house in Bulgaria will cost a fraction of what it would cost for similar in the UK.
There are excellent investment opportunities to be found though. The major cities and Black Sea offer good rental potential as do the ski resorts.
Village homes, although steadily rising in value, tend to be older and less attractive to investors. Villages within easy commuting distance of a city are particularly sought after now as people look for the convenience of city life, and the higher salaries, with the benefits of living in a more rural setting.
No matter what type of property, what lifestyle you want to lead, or what environment you wish to live in, you will find your dream home in Bulgaria.
Finally, a good real estate agent is worth their weight in gold. There are many really good agents in Bulgaria but you should still be cautious. Seek recommendations from other expats via social media or expat forums before choosing who to partner with.
Good luck with your purchase and we hope you enjoy many many happy years in Bulgaria.
