Buying a property in Sofia
Buying a property in SofiaUpdated on Monday 18th April 2016
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Sofia is the first choice for those who want to buy a property in Bulgaria. The capital and the largest city in Bulgaria, Sofia is the economic heart of the country and the home of the most major Bulgarian companies. This particularity makes Sofia the best choice for entrepreneurs who wish to purchase a property in Sofia to establish their headquarters or for personal use.
Research the market
The first step in order to buy a property in Bulgaria is a rigorous research for available properties. While most of the population lives now in urban areas, the country side can also be appealing for certain business sectors and also for those who want to retreat from the city.
There are many real-estate companies and real-estate agents, however, caution is needed when pursuing property offers. You should ensure that the person or agency is working in your best interest and follows all of the legal procedures.
Our Bulgarian lawyers can help you search for the ideal property and make sure that the entire process is legal and the final price for the property is correct.
Types of properties in Sofia
Until recently, foreign investors were not allowed to purchase Bulgarian properties that came with parts of land. Exceptions to the rule are now available for EU natural and legal persons. They are allowed to purchase houses with gardens and plots of land in Bulgaria. Foreign persons who are not citizens of the EU or EAA countries cannot buy land in Bulgaria, unless they register a Bulgarian company.
All the required documents must be translated into Bulgarian by a certified translator.
Examples of required documents are listed below:
- ownership document for the property - title deed, sales contract;
- certificate of tax evaluation of the property;
- marriage certificates for the seller and the owner (if applicable);
- the document of partition (if applicable);
- sketch of the property;
- poof of divorce (if applicable);
- certificate of Encumbrances on the property.
Other documents may be required depending on the specifics of the sale.
Our law firm in Bulgaria can help you check all of the necessary documents for purchasing a property in Sofia. Please contact our lawyers in Bulgaria for more information.