| Under Bulgarian law a foreigner cannot own | | | | almost certain to rocket in the coming year, |
| land. | | | | as the country moves closer to joining the |
| | | | EU. |
| If you wish to buy land or a house with a | | | | |
| plot in Bulgaria then you can circumvent this | | | | Bulgaria Ski Resorts |
| law by opening a Bulgarian company. | | | | |
| | | | About 30 per cent of Bulgaria's territory is |
| The land (and house) can be owned by this | | | | occupied by mountain areas. Of these, the |
| company and a foreigner can have outright | | | | Rhodope, Rila and Pirin mountain ranges all |
| ownership of the Bulgarian company. | | | | offer fantastic ski resorts between October |
| | | | and March, one of which could be in the |
| The cost for setting up a company is | | | | running to host the 2014 Winter Olympics. |
| relatively low (under 1000 Euros). | | | | |
| | | | Prices of apartments in Bulgaria's ski |
| With new, off-plan developments it is not | | | | resorts vary from between 40,000 euros for |
| necessary to own part of the land or set up a | | | | one bedroom, to 75,000 for two bedrooms. |
| company as buildings can be owned by | | | | |
| foreigners. | | | | Plovdiv |
| | | | |
| Bulgarian Property hotspots | | | | The country's second biggest city behind |
| | | | Sofia, Plovdiv has slowly started to generate |
| The Black Sea Coast | | | | a trickle of interest with British buyers. |
| | | | |
| With a climate similar to northern Spain and | | | | Property prices are still extremely cheap - a |
| golden sandy beaches aplenty, the Black Sea | | | | two-bedroom house could cost as little as |
| coast is a popular destination with holiday | | | | 15,000 euros - although rental potential is |
| makers and property buyers alike. | | | | still limited. |
| | | | |
| Property prices along the coast have | | | | Legal fees & costs of buying property in |
| increased rapidly over the past 12 months and | | | | Bulgaria |
| continue to do so. | | | | |
| | | | Legal fees & costs on purchase price totals |
| However, 65,000 euros will still be enough | | | | around 5 |
| for a one-bedroom apartment on the coastal | | | | |
| strip of Sunny Beach, les in less popular | | | | Notary expenses are approximately 2 |
| resorts. | | | | |
| | | | Stamp duty of 2 |
| Sofia | | | | |
| | | | Time scale for the entire process is around |
| Bulgaria's capital is where those with an eye | | | | 30/40 days. |
| on making a profit will undoubtedly find | | | | |
| themselves drawn. | | | | These guidelines are meant for guidance only |
| | | | and describe a straightforward purchase |
| New one-bedroom apartments can be bought from | | | | scenario. However this information is not |
| 55,000 euros, while on the city's outskirts, | | | | meant to replace proper legal advice, which |
| prices are closer to 20,000 euros. | | | | we always insist you take. John Everitt is a |
| | | | consultant to Globespan European property |
| However, the cost of Sofia apartments are | | | | portal. |