Bulgarian Off-plan Property - Frequently Asked Questions

 

Why Bulgarian Off Plan Property?

Bulgaria is a quiet and largely rural country in SE Europe, about the size of England but with a population of only around 8 million.

 

For years Bulgaria has been a number one destination for Eastern Europeans, but only in recent years has it opened its doors to the rest of the world. Its mountains, beaches and old fashioned rural tranquillity offer a glimpse of Europe which has long since disappeared under the noise of traffic and concrete in Western Europe.

 

Bulgaria joined NATO in 2004 and also the biggest thing that will happen for this country in history is the fact that they will be members of the the European Union in 2007. This puts Bulgaria as the leading investment market for 2005 & 2006.

 

 

What do I need to travel?

Anyone can visit Bulgaria as a tourist on a valid passport subject to a maximum stay of 30 days.

 

What does an investment trip consist of?

An investment trip usually lasts 4 days and 3 nights and involves at trip to Bulgaria to view properties and become familiar with the area in which you are going to purchase. A professional from our marketing department, based in Corporate Head Quarters, will arrange every last detail for you, based on the information you give us. Click here for more information.

 

What is the buying process?

Once you find the Off Plan Property in Bulgaria that your looking for you make a deposit of 2000€ with the lawyer.

 

Once you get back home after your trip to Bulgaria you then make a transfer to the developer of 30% less the deposit.

 

Then on completion you make the final 70%, at this stage you receive the keys to the property.

 

How can I rent out my property?

You would be renting to the Eastern and Western Europeans which gives you a large rental market! High season in Bulgaria is from May – September. And in the low season rental is great with skiing only a short drive away!

 

Guaranteed rental?

There is guaranteed rental in place on the Black Sea in the Sunny Beach area mostly coming in at 6.5%, with Mortgages coming in at 5.9% you can see that the rental will be able to pay for itself.

 

Contact us so that we can go though all the details and arrange for you not to miss this opportunity before the EU 2007 joining.

 

What guarantees do I have that my investment is safe?

The initial deposit, normally a minimum of 10%, is protected by "title deed" for a portion of the land to be built on. The value of this land must be more than any deposit paid. Subsequent payments occur only after a certain amount of construction has been undertaken. You only pay for completed work.

 

Are mortgages available?

Mortgages are available secured on your Bulgarian property up to a maximum of 70% of the property value. Interest rates are at 5.9% but these are expected to drop significantly in 2007.

 

How do I get the best legal advice?

We provide introductions to lawyers as recommended by the British Embassy.

 

 

If you would like further information on Property in Bulgaria please contact us, we will be glad to help.