Frequently Asked Questions
Why Should I Invest In Bulgaria?

Simple one to answer, capital appreciation and low cost of entry. Also, secondary consideration has to be, the people and the country. We have seen gains for clients of 30-40% in the past 9 months without exception, one good reason to invest in Bulgaria

Current average cost per square metre of 800-1000 Euro for key developments in Sunny Beach and Sofia will also result in good gains over the next 12-24 months.

Where should I invest?

Hmm, more difficult to answer. My standard response to that question is another question, what do you want it for, investment only, or a mix of holiday and investment?

Sunny Beach remains the best beach holiday resort in Bulgaria. In terms of ski , look to Bansko, Borovets and the upmarket Pamporovo. Remember, it will be possible by end of 2005 to reach the beach resorts in Northern Greece from Pamporovo. Sofia, as the capital, is worth it from the investment point of view.

Be very careful of the areas you invest in. If you pay less than 900 Euro sq metre in Sofia then you are in a developing distant area.

Stage payments

Yes, it is normal practice. Expect normal payment of 30% down with 3 X 20% stage payments and 10% at title deed stage. Some developers ask for more up front. We only deal with developers who accept wire transfers and refuse to deal with cash payments.

Why Stage payments?

My answer comes down to the banks in Bulgaria. Bank loans are not available to developers so, they use the stage payments to fund the complex. Obviously, the larger developers are not totally dependent on selling all the apartments prior to commencement of development.

Why so much emphasis on Sunny Beach & Varna Golden Sands?

Easy one, it is the best beach resort in Bulgaria. 7 Km of the best bay and sand you will see. Very well developed infrastructure. Close to Burgas and Varna airports. In general, sympathetic developments and best opportunity for renting your apartment.

What about ski resorts?

Bansko is the only one of the ski resorts not purpose built. It is a lovely old town that attracts tourists in winter and summer. Sure, not the best developed of the 3 resorts but, the one where most money will be invested over the next 3 years.

Only 2 hours from Sofia and a great jazz festival during August every year, ok, I like jazz! Borovets is starting to get the first apartment developments and Pamporovo is the most exclusive of all the ski resorts and very beautiful.

Buying apartment

Do I need to setup company? No, is the short answer. However, buying houses or land and you will need to Set-up Company. Cost for company setup is approx. 600 Euro with annual return every year not to exceed 200 Euro.

Property Tax?

Yes there is property tax and is paid annually based on 0.15% of the property value.

VAT - I have heard horror stories -please explain?

Normally developers will declare the build price to be 30% or less, of the purchase price. Entirely up to buyer to ''come clean'' and pay the extra VAT on the full amount. 99.99% of clients never do this.

Some developers will say that VAT is included in the price. I often wonder what that means! Be aware that a person can own up to two properties in Bulgaria and, as long as you keep them for longer than 5 years, there is no Capital Gains Tax to pay.

What about country areas?

Bulgaria is a very large country with lowest level of new births in Europe and mass exodus to the main cities. Probably the most beautiful countryside in Europe with breathtaking landscapes.

Buy in country areas if you never want to rent. Houses can be very cheap but, please oh please, check the area first. We specialise in area between VelikoTarnovo and Sliven in the Balkan Mountains and are fortunate to be in position to offer clients rental income for select houses. We never advertise these on the website so, please contact us for details.

Should I wait until 2006/2007 to invest?

Absolutely not! The market will show gains in 2007-2009 for sure. However, the large gains are to be made up to 2007. Remember, we sell developments today off plans that will not be ready until July 2006.

With incomes of 200 Euro/mth how can locals buy apartments?
Don't believe all you read about salaries. The largest purchasers in Sofia and Black Sea are locals.

Why should I purchase from You?

Another question we are always asked. We try to be as impartial as possible. We match the client to location and apartment complex. We constantly follow up with clients and remain main point of focus throughout the process.

We are a total provider with furniture/ letting and resales. Finally, knowledge of Bulgaria remains one of our key strengths.

I hope I have answered some of the basic questions in the above. At least it should give you a better appreciation for the Bulgarian market.

As a team of professionals, our Bulgarian Property Consultants will do everything possible to satisfy our clients needs and to provide the best possible service. Our most important goal is to supply complete and comprehensive service. In the process of doing so we present to you our services:

• Property investment consulting
  
• Property management
  
• Research of the property you intend to purchase
  
• Registering a limited company for you
  
• Renovation, redecoration or construction services
  
• Interior and exterior solutions
  
• Help in the process of choosing and purchasing furniture and equipment
  
• Advertise and sell your property

We will assist you all the way; If you need an advice regarding your stay in Bulgaria, how to get medical assistance, buy a car, arrange a holiday or go out to a bar or restaurant, we will be there for you!