Buying a property in Burgas

Buying a property in Burgas

Updated on Monday 18th April 2016

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buying_a_property_in_bulgaria.jpgBulgaria is a country with a great potential for business development. One of the best cities to make a real-estate investment in Bulgaria is Burgas, the fourth largest city in the country and the second largest city on the Bulgarian Black Sea Coast.

Properties in Burgas

Burgas is located at the westernmost point of the Black Sea and it is surrounded by the Burgas Lakes. Its geographical location gives its beauty and economic potential. The port of Burgas is the largest port in Bulgaria and the Burgas Airport is the second-most important airport in the country.

All of these aspects make Burgas worthy of consideration for entrepreneurs that wish to purchase property in Bulgaria.

The types of properties available in Burgas include apartments and houses. Buildings can be low-rise (with up to three storeys), medium-high (4-5 storeys) and high-rise (over six storeys high). EU natural and legal persons can now purchase houses with gardens and plots of land.

However, there are restrictions for citizens of countries outside of the European Union and the European Economic Area. They cannot purchase land in Bulgaria unless they register a Bulgarian company.

Seek advice when buying properties

Caution should be taken when seeking to buy properties in a foreign country. It is important to conduct a thorough search before deciding on a certain property in Burgas. You should consider a different range of properties and compare prices to ensure that the final decision best suits your needs.

You should seek independent legal advice to make sure that the purchase is legal and you will not experience any problems with the property afterwards. Our law firm in Bulgaria can assist you during your search for a property in Burgas and offers legal advice for purchasing a  property in Bulgaria .

Necessary steps

After you have found the ideal property in Burgas, the effective purchase process can begin. Firstly, a preliminary contract is signed with the owner. Afterwards, the title deed must be drawn up. This certifies the ownership of the property. A certificate of tax evaluation of the property also needs to be issued and certain documents need to be provided to identify the parties and confirm their marital status. Depending on the type of deal, other documents will be necessary to complete the sale.

Our lawyers in Bulgaria can help you draw up all of the necessary documents and assist you throughout the entire process. Contact our law firm in Bulgaria for more information on how to purchase a property in Burgas.