The procedure for buying a property in Bulgaria

Purchasing real estate in Bulgaria is an excellent investment in your future and a stable capital investment. Bulgaria attracts foreign investors with its favorable climate, beautiful nature, and diverse cultural attractions. Additionally, the real estate market in the country is relatively stable, making it appealing for those seeking long-term investments.

Buyers have access to various types of properties, including apartments, houses, villas, and land plots, providing a wide selection and the opportunity to find the optimal option according to their needs and preferences.

The first step in the process of purchasing real estate in Bulgaria is opening a bank account in a local bank. This is necessary for carrying out financial transactions related to the purchase and ownership of the property. After opening the account, a thorough inspection of the chosen property should be conducted.

This includes assessing the condition of the property, checking the legal status of the property, and reviewing the documents that confirm ownership rights and the absence of encumbrances.

After successfully inspecting the property and confirming its suitability for purchase, the next step is to select and reserve the property. To reserve the property, a deposit, which usually does not exceed €3,000, must be made. 

It is important to consider factors such as the property's location, its price, the area's infrastructure, and the potential for future resale or rental income during this process.

After the deposit is made, a preliminary contract with the owner must be signed within 30 days. This contract sets out the main terms, which are then transferred to the notarial deed. These terms include a description of the property, the price, payment terms, and for unfinished properties, the completion date.

A local notary then drafts the notarial deed (Title Deed) in the presence of the buyer and seller, which serves as the legal document certifying ownership of the property.

After signing the notarial deed, the buyer immediately transfers the remaining amount to the seller's account.

Additional fees are also paid at this time.

After the transaction is completed, the notary submits the documents to the district court, where the new data is entered into the state register. Within a week, the buyer receives the deed with a registration mark from the notary's office.

Corporate buyers should note that a week after receiving the notarial deed, they need to register with the Bulgarian National Statistical Institute. Property registration with the tax office is done automatically when the ownership is transferred.

• Property transfer tax: Ranges from 0.1% to 3%, with the exact amount depending on the region where the property is being purchased
• Notary fee: depends on the transaction amount, typically ranging from 0.1% to 1.5%

• Registration fee: 0.1%
• Agent сommission