Procedure for buying a property in Bulgaria
Bulgarian law allows foreign natural persons to buy property in the country but with a few limitations. If you have decided to buy an apartment (without being obliged to buy ideal part of the land on which the building is located) you will not come upon these limitations. Any foreign natural or legal person can become the owner of an apartment in Bulgaria. When buying a house one must know that land cannot be sold to foreign natural persons but can only be let long term, without a maximum term. In order to buy land in Bulgaria foreigners must register a company.
Read Our Tips on Selling Real Estate in Bulgaria
1. The price is the decisive factor. Offer your property at the lowest price you can afford. Don’t forget that it is the market that sets the price!
2. Do not put a reserve in the price so as you can reduce the price when bargaining, because it must be as attractive as possible!
3. When there is a potential client who wants to get a discount do not decrease the price further. This way the buyer will know that you have offered the lowest possible price which will motivate them to buy property without bargaining any further.
Bulgarian Properties Tips for Buying a Property during a Crisis
1. Use the crisis as best as possible. There will always be demand for residential properties in the bigger cities. Properties are always a safe bet for investors who do not want to take a risk. So do not hesitate whether buying a property during a crisis is worth it. Act now because there might not be such a good opportunity anytime soon.
2. Choose the right moment. Prices do not fall overnight. This is a process which usually takes a few months. Buy while prices are at their lowest. It is difficult to say when exactly prices hit the bottom so seek advice from your experienced real estate agent. |
