Can foreigners own property in Bulgaria? (2024)

Can foreigners own property in Bulgaria?

Moving to Bulgaria as an expat is possible by renting or buying a property here. The most important thing to consider is that as a foreigner you cannot buy land in Bulgaria, but you can acquire a house with a plot if you are an EU or EEA citizen.

Can I own a house in Bulgaria?

Since 1 January 2012 all EU and EEA (European Economic Area) citizens are allowed to buy land in Bulgaria. This applies to houses with gardens, all plots that are within the zoning of the settlements, apartments coming with shares of the land, offices and other commercial properties.

How easy is it to buy property in Bulgaria?

Bulgarian law allows foreign persons to buy property in the country but with some limitations. All foreign natural or legal persons can buy apartments in Bulgaria on their own names, provided that the apartments don't come with ideal parts of the land on which the apartments were built.

Is it worth buying property in Bulgaria?

Bulgaria has proved to be a preferred destination for many international buyers. It offers the best property prices in Europe and a variety to choose from - beach and ski resorts, vibrant cities and beautiful countryside for holiday or relocation.

Can I get residency in Bulgaria if I buy a house?

Bulgarian law creates the possibility for investors to obtain Bulgarian temporary residence by purchasing real estate which is becoming increasingly well-known internationally. The minimum amount of investment required is approximately € 310,000 (US$ 346,000).

Why are Bulgarian houses so cheap?

Reasons why in Bulgaria cheap property, a few: The consequences of the 2008 crisis and the sharp drop in demand, causing prices have fallen by 40%. Lower purchasing power of the population compared to an average level. The socialist heritage of the country.

How much is an average house in Bulgaria?

A three-bedroom house tends to be the most popular type of dwelling when it comes to properties available for sale in Bulgaria. The average price of such homes comes to approximately 32,000 euros, and it works out at about 7,000 euro more for an extra bedroom. Meanwhile, the 2-bedroom property costs about 25,000 euros.

Who can buy a property in Bulgaria?

Can I retire to Bulgaria?

Who can retire in Bulgaria? Bulgaria allows every retired national to reside in its territory as long as he meets all the legal requirements. Eu-nationals will find the process relatively easy and straightforward. No visa is required for the first 90 days.

How much money do you need to live comfortably in Bulgaria?

Family of four estimated monthly costs are 1,801$ (3,467лв) without rent. A single person estimated monthly costs are 512$ (985лв) without rent. Cost of living in Bulgaria is, on average, 46.78% lower than in United States. Rent in Bulgaria is, on average, 79.85% lower than in United States.

Where is the best place to buy property Bulgaria?

If you are looking for permanent residence, the best choice are the big cities. Such as the capital of Sofia, Burgas, Varna, Plovdiv where life is in full swing throughout the whole year. If you prefer quiet living, you can buy a home in small towns like Nessebar, Pomorie, Sozopol or Aheloy.

How much does it cost to build a house in Bulgaria?

Relatively cheap cost of construction finished construction comes at $250-300 Euros per square meter. Great price difference between Bulgaria and Western Europe, making buying of real estate in Bulgaria a very attractive investment for EU countries.

How much is property tax in Bulgaria?

All property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property. for rural property and about GBP100 per year for apartments in city centers.

What are the pitfalls of buying property in Bulgaria?

The most common mistakes made when buying a property in Bulgaria can be summarized as: Paying a deposit to reserve a property. The seller insists that a lower price is put on the title deed (tax evasion). Feeling that you are the weak party when you are the market maker.

Why is Bulgaria so poor?

It is one of the poorest countries in Europe. 65 per cent of the population is currently unable or barely able to cover their living expenses. This is due to the high level of indebtedness of state-owned companies in the energy sector and hospitals, poor infrastructure and the threat of population decline.

Do you pay council tax in Bulgaria?

Every owner of a property in Bulgaria has obligation to pay council /local/taxes to the municipality where the property is situated.

How do I become a resident of Bulgaria?

To obtain a permanent residence one must spend 5 years in Bulgaria according to the long-term stay conditions. Getting Bulgarian residence will give you all rights of a Bulgarian citizen except the right to vote. You will also be able to enter and leave the country as many times as you wish without visas.

Can you buy a farm in Bulgaria?

Therefore, the investment in a farm for sale or rent in Bulgaria is a wise step as it is usually a developed profitable business. The business property market in Bulgaria is quite diverse. The farms for sale and rent are usually located in villages close to a town or city.

Who can buy a property in Bulgaria?

Is property expensive in Bulgaria?

Average property prices in Bulgaria

That being said, Bulgaria is a lot cheaper than many other European countries when it comes to property prices. In fact, it's nearly 80% cheaper than buying a home in the UK⁵.

How much is property tax in Bulgaria?

All property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property. for rural property and about GBP100 per year for apartments in city centers.

Can a foreigner get a mortgage in Bulgaria?

Both permanent and non-permanent resident aliens can obtain mortgages in Bulgaria, pretty much like Bulgarian citizens. The mortgage application process as well as the interest levels and conditions will be very similar to that of BG citizens.

Can I retire to Bulgaria?

Who can retire in Bulgaria? Bulgaria allows every retired national to reside in its territory as long as he meets all the legal requirements. Eu-nationals will find the process relatively easy and straightforward. No visa is required for the first 90 days.

How much does it cost to build a house in Bulgaria?

Relatively cheap cost of construction finished construction comes at $250-300 Euros per square meter. Great price difference between Bulgaria and Western Europe, making buying of real estate in Bulgaria a very attractive investment for EU countries.

Where is the best place to buy property Bulgaria?

If you are looking for permanent residence, the best choice are the big cities. Such as the capital of Sofia, Burgas, Varna, Plovdiv where life is in full swing throughout the whole year. If you prefer quiet living, you can buy a home in small towns like Nessebar, Pomorie, Sozopol or Aheloy.