Professional Assistance.

Personalised viewing trips.
Reservation for flights, travel and accommodation.
Arrange viewings of all properties requested including houses, villas, apartments, developments and plots.
Opportunity to experience some of the best Bulgarian traditions.
Visiting major towns, holiday resorts and natural attractions.
Creating your Bulgarian Property Portfolio
Offer properties at competitive prices

Professional Support.

Preparation of all contracts and documentation.
Highly qualified team of specialists.
Company registration.
Opening bank accounts.
Including transfer of funds together with currency transactions
Legal and taxation consultations.
Representation before State Administration.

Professional Service.

We are constantly striving to improve our services and offer for your guidance and support a highly qualified team of Estate Managers, Real Estate Brokers and Lawyers who can advise you on many aspects of Bulgarian law and procedures including Visas and permanent stay permission, therefore protecting your interests.

We endeavour to secure the opportunity to create multiple avenues of income, find your dream home, provide retirement income, or just a holiday home to relax in. Whatever your aspirations are we aim to maximise your investment to achieve the greatest growth, long or short term. Capital growth in the current marketplace is about as assured as anything can be in property investment. Just consider, the average wage in Bulgaria is £200 a month which is less than a twelfth of the UK's. So the cost of buying, building or renovating property is much lower. At the same time the demand for property in Bulgaria is coming from Western European countries like Germany and the UK. So the rental income is coming from people earning £20,000 a year on average. Which accounts for the high rental income yields, at the same time Bulgaria is an inexpensive holiday destination. With tourism rising rapidly year on year and occupancy rates very high there is only one way for property values to go and that upwards.

There are two main reasons why you should be interested in Bulgaria.

An almost unrivalled investment opportunity

Quality of life

Of course, these two need not be exclusive, indeed, nor should they.

However, whatever your motivation, here are some straight-forward facts about Bulgaria;

Bulgaria is scheduled to join the European Union in 2007.

The Black Sea airports are about 3 hour’s flight from Britain.

Bulgaria has recently joined NATO

The currency is stable and linked to the Euro

The Black Sea coast boasts 220km of sandy beaches

The Black Sea coast has over 1700 hours of sunshine from May to October

The diverse geography and climate allows both ski and beach resorts.

The general cost of living is one of the cheapest in Europe

All major British tour operators will be on the Black Sea coast next year.

Property prices are currently some of cheapest in Europe and last year rose by over 40%

We believe that Bulgaria offers an almost unrivalled investment opportunity and confidently predict at least a 100% return on your investment by the end of 2007, if you invest wisely now.

BPI offers a complete cross section of selected investments from individual low cost plots of land and houses to luxury apartments at a discount (ready for Aug 05) and Villas in the most exclusive areas, this type of investment always command a premium.

Of course, to many, quality of life is more important than financial reward. This is exemplified in the beautiful sweeping sandy beaches of the Black Sea coast, the rugged mountainous regions perfect for walking and the majestic yet challenging ski slopes, Bulgaria truly is an undiscovered gem, where you can find all this beauty combined with a delightful lifestyle at a price you can really afford.

Bulgaria has been undergoing a transition from a state controlled socialist economy to an open market since 1989. Recently, main economic indicators have stabilized, and Bulgaria is all set to join the EU in 2007 and has complied with 26 out of the 30 EU accession criteria qualifying on entry a massive €4.5 billion in EU financing for 2007-2009 enhancing tourist attractions.

Historically the expectation as well as the actuality of joining the EU drives economic growth and property on an upward slope, before anything in reality has changed on the ground. We believe that Bulgaria will be no exception to this trend. Right now Bulgaria is one of the least expensive countries in Europe, making investment an attractive option.

The Times recently reported that "if Bulgaria joins the EU there is a possibility that property prices could take off, rewarding early buyers."

Bulgaria's national income (GDP) per person has increased by a whopping 24% from 1999 to 2002. The good news is that (unlike the UK) its government debt is declining. This is very important for smaller, poorer countries that can ill-afford to maintain large budget deficits like the more prosperous Western European nations.

It is not surprising that Bulgaria is booming. Not only does it boast a picturesque coastline and formidable mountains but its climate is hot in the key summer months with refreshing breezes. Just as importantly your living expenses are low. A decent meal can be bought for under £6 and that is for two people. A pint of beer is 60p and a very palatable bottle of wine only £2.

Another reason to buy property now is that Bulgaria is expected to open its air space for European air carriers in 2005. This will make the Bulgarian air travel market a lot more competitive and consumers will benefit from greater choice and cheaper flights. Further more another €120 million is expected to be invested into the Black Sea airports of Burgas and Varna.

The really interesting aspect of this tourist development is that the development of resorts and hotels is lagging behind the red hot pace of soaring tourist numbers and spend. Tourism revenue has jumped 30% in the first five months of this year. This means that investors may enjoy the unusual scenario of rising property prices and rising or steady rental yields.

Over all Bulgarian property is reported to be rising at 15%-30% a year. In places like Sunny Beach growth is higher and likely to continue for several years to come. Typical of smart investor sentiment is an article published in a specialist French magazine "Paris Enterprises" which led with the headline "Let's Invest in Bulgaria now- tomorrow will be too late." Among its highlights about Bulgaria was the fact that the opinions of all the top international institutions cite Bulgaria as economically promising. These include the EU, IMF, EBRD and the EIB. Bulgaria is also lauded as one of the few South Eastern European countries that avoided ethnic conflict.

In order to purchase a villa house with land or land alone you will not have to set up an Ltd company,

The conveyance fee including commissions will be 3 % of the purchase price or a Minimum of 1,500 Euros.
This includes:
Negotiation with vendor on your behalf to secure best price
Organising bank account
All Solicitor / Lawyer fees
All notary fees
All court taxes
Full checks on property ownership documents, land sketch, securing property title deeds.
Preparation of a Preliminary Contract
Draw up preliminary Contract
Signing of Preliminary Contract
Signing of final contract
Organizing the payment of the 2 % property tax to the Tax authorities (payment of tax by yourselves)
Declaration of the purchased property in the Tax office
Official Translation into English

A Registered Translator will be present to explain exactly what is written on all documents before you sign. There is a charge of around 20-40 Euro for this service, for additional translations.

Other costs: The transfer is subject to notary and municipal fees, which are about 2.5% to 3% of the declared value of the property. Please note that the prices of the properties you see on our website do not include the transaction costs and our commission.

In some special cases we are able to offer a total package which will include all the above prices. These services will be offered to you as an integral part of the buying process.

Our Promise

No hard selling tactics are used. Some clients find that one visit is enough, others need more time. There will be no pressure to buy. We want you to enjoy your stay.

So whether you are interested in a holiday, retirement, investment or commercial property then do not hesitate to get in contact with us for a friendly and professional service.

This is not meant to be a full explanation of property law but simply a guide to the basic process.

Bulgaria’s ownership policy will be harmonised with the EU in the future.

Latest news”)

At present under Bulgarian law any, foreigner purchasing property must have an officially appointed government translator present, to explain exactly what is written on all documents before you sign

The situation is summarised below:

The Process:

Villa Houses & Land: In order for a foreigner to own villa/house/land in Bulgaria they must set up a limited company, this can be arranged through this website. It may seem a daunting task setting up a limited company in order to own the land upon which your villa house is sited. However, the hard work of finding the right people and advice has already been done for you. (see “What we do for you”)

Apartments: Foreigners can purchase apartments in Bulgaria without the need to set up a LTD company, When you buy an apartment, you buy a part of the building and as such there is no need to create a company. This part of the building is freehold and there is no lease, the apartment is yours forever, or until you sell.

Buying an ‘off plan’ apartment in Bulgaria is essentially the same as buying in the UK. There is an initial contract signed by all parties, which is basically an obligation to build on behalf of the developer and an obligation to buy on behalf of the client.

The sales contract will set out timescales, prices and any penalties for late completion and will be produced by the developers solicitors. It will have been checked by the agent and the client will also have the opportunity to obtain their own legal advice before signing.

The difference comes when the property is completed. In Bulgaria, there is a third party who basically acts on behalf of the government. This person is called the ‘notary’. It is the notary’s responsibility to ensure that the correct details are entered onto property deeds.


In essence, the client and/or a representative, with the representative of the developer meet with the notary, who issues the deeds once they are sure everything is correct. (The notary is considered as a government official, to ensure all parties understand and agree with the contracts.)


Buy Unseen


Bulgaria Property Investment Ltd offers you a special service "Buy from any Country in the World!" that gives an opportunity to those clients who wish to acquire property in Bulgaria without having to travel the distance. This service is not unique but we pride ourselves in being one of the first to promote this facility. The service is especially useful for those buyers who wish to buy "off-plan" be it apartments or new build houses and are already familiar with the area where the construction work is to take place (or will take place). Our clients can benefit from lower agent commissions, avoiding travel costs and time saving.

All you have to do is:
Step 1: Reserve the property:
You can reserve a property through us for two weeks by transferring 1000 euro into our bank account. We will immediately pay the sum to the seller and he will take the property off the market. This amount will be deducted from the purchase price of the property when a Preliminary Purchase Agreement is signed with the builder.

Step 2: Sign a Preliminary purchase agreement and pay balance of full deposit:
After the property is reserved we arrange that the seller signs a preliminary purchase agreement that is prepared in advance after communication with both the buyer and the seller. The signed Preliminary Agreement is then posted by courier service to the buyer. Upon receiving the signed agreement the buyer transfers the agreed deposit payment (usually at least 10% of the purchase price, depending on the stage of completion of the property).

Step 3: Transfer the balance amount (on separate instalments if the property is in construction) and picking up the notary deeds. (Normally, the client should come over to sign and pick up the notary deeds personally. However purchases can be completed in the client's absence by using Powers of Attorney.)

In cases when the contract involves purchase of land our lawyers have to register a company on the client's behalf. This requires more time and paperwork. (See “Our Fee’s”)

Please contact us if you would like to reserve a property and make use of our "Buy from any Country in the World!" service. You can call Brian Howard on 0044 1983 863015 or Tony Philipson 0044 1983 810008.

We operate on personalized schedules only, so we can allocate sufficient time for you, and be able to arrange you viewing trips efficiently. You can be assured a better service if you provide us with as much advance information as possible regarding your preferences. This will give us more time to research all the properties that match your requirements.

There are two ways of purchasing a House/Villa/Apartment or Land through us. This first method ensures that when you arrive in Bulgaria, your property is reserved for you and cannot be sold to another person. The basic process is listed below:

1. Reserving a Property BEFORE visiting Bulgaria

After discussing your individual requirements with us, you state verbally that you wish to reserve the advertised property. We record that property as reserved for three days whilst we await you cheque. The reservation fee of £500 is refunded when you complete your purchase. It can be transferred to any property on our list (subject to availability) but if you decide not to buy at all, then it is not refundable.

When the cheque arrives, we send out a preliminary contract so that you can obtain legal advice before you fly out or decide to buy unseen.

We always recommend that you view as it is an essential part of buying a property abroad, regardless of the type of purchase or Investment.

We can reserve accommodation for you in a number of 3-4-5* Hotels at special reduced prices. For all customers purchasing any type of property, we pick you up at whatever airport you land at in Bulgaria.

If you do not wish to stay for a whole week, and only want a trip of a few days it will mean a scheduled flight to Sofia, Burgas or Varna Airport. We assist you to arrange your own flight, on a date which suits you. (subject to availability).

We will also pick you up from your hotel and escort you on your viewing trip.

2. Visiting Bulgaria BEFORE reserving a Property

This method means that you don’t pay a reservation fee before you arrive. However, it also means that you have to choose from the properties that we can show you. (please remember that some properties can be sold within days of being advertised) We assist you to arrange your own flight, on a date which suits you.

We can reserve accommodation for you in a number of 3-4-5* Hotels at special reduced prices. For all customers purchasing any type of property, we pick you up at whatever airport you land at in Bulgaria. If you do not wish to stay for a whole week, and only want a trip of a few days will mean a scheduled flight to Sofia, Burgas or Varna Airport. (Subject to availability)

We will also pick you up from your hotel and escort you on your viewing trip

Flight and visa information

Direct international flights are available to the capital Sofia, all year round. There are daily connections from Sofia to Bourgas and Varna. Direct charter flights to the Black Sea (Varna or Bourgas) are available during the high season spring and summer months.

During the winter season Balkan Holidays offers direct charter flights from up to 20 regional UK airports. Balkan Holidays has one and two week special ski offers in Borovets and Pamporovo starting from £200.00, so it is suitable to have viewings organized during your stay there. Off-season flights to the Black Sea require an onward internal flight from Sofia. There is at least one flight per day from Sofia to Burgas and Varna. Bulgaria is a 2.5 hour flight from the UK direct.

There are package holidays and flights with Thompson, Airtours, JMC and Balkan holidays available between May through to October, direct to Burgas, Varna and Sofia and between December to April to Sofia.

Direct flights times vary depending upon departure point, Manchester 3 hours15, and Gatwick 2 hours 45. It is however expected within the next twelve months that flights direct to Burgas will be operating all year round.

. For more information please contact the Bulgarian Embassy in London at 0207 584 9400. The British Consular Section in Sofia can be contacted at 00 359 2 933 9290.

Rentals

We are in the process of establishing a property management, maintenance and rental company. This company will offer a full range of services enabling you to let your property with complete peace of mind.

Services offered:
Bulgaria Property Investment Ltd now offers a property management service taking good care of your property on a regular basis. Our property management service covers most areas of Bulgaria and is also open to clients who have bought property with other real estate agents. By subscribing to this service you will enjoy complete peace of mind as we engage to:

Property Management:

Ventilate the property and check for any humidity and/or damage.

Check the installations for water, electricity, gas and ensure all appliances are in working order.

Take care of indoor and outdoor plants and keep the terrace tidy.

Pay the annual municipal and local taxes, fill out tax declarations. Pay the monthly bills for electricity, water and telephone.

Collect mail to leave inside property or re-post to an address of your choice.

Ensure prevention against problems such as humidity and flooding that can occur after heavy winter snow or rain. Cleaning before your arrival, key holding, regular property inspections, bill payments, preparing the property for the seasonal changes

Guide prices (not including VAT 20%):

1 Bedroom/studio 180 euro per year
2 Bedroom 220 euro per year
3 Bedroom 270 euro per year
Seaside house 320 euro per year
Countryside house 440 euro per year

Property Maintenance:

This will be a service offered upon demand which will include structural repairs, painting and decorating, gardening, septic tank maintenance, servicing of household appliances, cosmetic alterations. All these services will be charged as per individual requirements, following agreement from the owner.

Ensure that tenants take good care of the property should you have decide to let it out.

Other services quoted on demand; advertising, airport transfers, property security, registration of arrival with local authorities.

Property Rental Management:

Will include: Holiday Rent collection, deposit of rental monies into your bank account, laundry and cleaning facility ever three and seventh days, inventory checked upon departure.

Will include switch on air conditioning/heating, water heater or floor heating before your/tenant's arrival.

By using our service, you can expect almost full rental occupancy in July / August and a good occupancy in June and September. Please e-mail us with the details of your apartment and the rental income you would expect if you would like to get to use our rental service.

Rental Fees: Rental fee: 15% of the gross rental income, cleaning and maid service 350 euro for season 2005

Rental income: The rental income depends on the type and the location of the property that you buy. The rental market in the bigger cities like Sofia, Varna or Burgas is quite competitive and developed. In Sofia and Varna, for example, you can expect an annual return on investment (ROI) of about 10% per year. However, this does not include the capital appreciation, which is about 20% per year.

On the other hand, at the resort areas on the Black Sea coast and the ski resorts the rental market is seasonal in nature. For example; in some areas like Nessebar, Saint Vlas, Sunny Beach. you can expect good rental income during the entire summer season (June, July, August) and weak occupancy during the shoulder seasons of Spring and Autumn.

Rental income taxation: Although rental income is subject to taxation by the Bulgarian Government, in practice not many of the private individuals, foreign or Bulgarian, who rent out their properties, declares that in front of the tax authorities. The basis of the taxable income of a company, investing in Bulgarian real property is the gross income derived from the property minus tax-deductible, property-related expenses and depreciation. Such expenses include repairs, maintenance, renovation and similar costs and interest on loans used for the acquisition of the property. A Municipal Tax at a rate of 10% of the profit is due. This is then deductible in calculating taxable profits which are subject to a flat rate of 25%. Foreign investors are guaranteed full repatriation of profits resulting from an investment in Bulgaria. The transfer abroad can be made only after the bank affecting the transfer is presented a certificate proving payment of all Bulgarian taxes due.

Fortunately this aspect of the market is maturing rapidly. You can arrange for your apartment to be let for the season by one of the large holiday operators, or we will advertise any property purchased from us FREE for one year. In some cases the developers continue to manage the estate including the contracting with the tour operators. This can save a lot of complications which is why we have tried to consider all aspects to ensure you have a trouble free experience.

Household Bills:

Annual Property tax which is equivalent to U.K Council tax range from 50 Euro to 100 Euro depending on size and location of the property.
Electricity 0.05p per unit
Water charges around 10-15Lv. £3.50-£5.00 per month
Cable T.V £5.00 per month
Mobile phone charges pay as you go 20p per minute
Annual all in cost for running a house (approx) per year, 1100 Euro
Corporation tax 15%
V.A.T is 20%

In addition to the above we provide a range of other services that you may opt for such as:

Security service with a local security company.
Insurance package for your property with Allianz (http://www.allianz.bg/) or other major insurance companies in Bulgaria
Arrange your company's annual returns and present to the Bulgarian tax authorities
Gardening.
Shopping
Relocation Transportation.

Renovation services
We can now offer a comprehensive renovation and building service for clients intending to purchase property in unfinished condition or require the property to be altered to their specifications. We have established contacts with architects, builders and tradesmen of all professions.

Discussions regarding your overall requirements will be carried out on site whilst you are in Bulgaria, this will then be generated into a quote and work will commence upon your approval. Photos of stage For further details please email info@bulgaria-property-investment.co.uk

We have contacts with several local building companies that can help you build or repair your property in Bulgaria. Below is an example of a new build house. From the outside the walls are covered with solid wood, according to the wish of the client. This kind of house can be very suitable for a holiday residence close to the ski resorts.

Prices

The price is dependant on the standard by which the house is built. Basic price by Bulgarian State Standard (BSS) is 250 EURO/sq. m. “Built to key”. The prices do not include delivery and transportation costs.

The price includes the building of construction, water conduit, sewerage system, electrical installation, installing of glass panes and frame of three layered wood by German State Standard (DIN) standard. Also: the floor covering in the bedroom is 3 cm thick, while the kitchen and the bathroom have terracotta tiling and faience.

Only the sanitary armature and the lighting units are additionally paid by the client. Setting up of the fundaments is not included in the price. The client takes up this task under the supervision of our consultant.

All expenses throughout the duration of the works of the building team, which consists of 4 (four) workmen, are covered by the client.

The builder takes up only the travel expenses. Basic price by DIN is 300 (three hundred) EURO/sq. m. “Built to key”. The difference appears because of the heavier material and the better isolation quality of the woodwork.Basic price by DIN is 340 EURO/m? “Built to key”.

Differences are because of the heavier exterior facing of the house, better quality of insulation of the woodwork.Besides the program “Built to key” there are also two other programs:“Final works made by the customer” in which the builder sets up the main construction and puts the wooden coating from the outside and the client completes the water–conduit, the sewerage system and the flooring. The price is 200 EURO/ sq. m. by BSS and 260 EURO/ sq. m. by DIN.

The last program is “Do it yourself”. Here the builder delivers only the wooden parts and the construction parts. All the rest is done by the client. The price is 155 EURO/sq. m. by BSS and 200 EURO/sq. m. by DIN.