Ever since joining the EU, Bulgaria has been a desirable location for many fellow Brits. The affordability of properties and land and the cheap way of living there have attracted many retired couples. Through the years, however, more and more people of all ages are looking to get on a good deal and buy a holiday home that will be an investment and will hopefully bring them a good rental income. Now that the prices have stabilized, it is much easier to buy the right home for you. And since January 2014, EU nationals can now buy properties and land without the need of a limited company. This makes it easier and cheaper to own a second home in Bulgaria.
Magnificent nature, the glorious mountains and the tons of history
If you are thinking of making Bulgaria the place where you would like to spend most of your holidays – summer or winter ones, then you should visit the country and have a taste of it. There are many airlines that offer cheap flights to Sofia, Varna and Burgas. Depending on the destination of your choice, you can land on some pretty good deals. Once you visit Bulgaria, you will fall in love with it. The magnificent nature, the glorious mountains and the tons of history it has to offer have attracted travellers from all over the world and have inspired them to write books about the beauty of this Eastern European country.
High standard winter or summer property
The property market is full of many and different properties that can satisfy every taste. Whether you want a village project where you will renovate a house yourself, or you want a fully furnished and finished to a high standard winter or summer property in one of the famous resorts, you will surely find the right home for you. The Brits now know that small budgets of 5 000 pounds are nowhere near enough to buy anything in France, Italy, Spain, etc.
However, in Bulgaria, you can find village properties at that price and sometimes even less. If you have decided that you want to go to one of the winter or summer resorts you will also be surprised at what you can afford with an average budget of 20 000 – 40 000 pounds. The real estate agencies are professional and very experienced in the property market. They will present you with various options that fulfil your requirements and explain in detail how a potential transfer of the title deeds will take place.
Pretty small yearly taxes
Once you decide on your desired property, you should know that it is not going to cost you an arm and a leg to make the transfer of the deeds in your name. It usually takes 2 to 4 weeks for finalizing the deal. A good estate agent will make sure that the deal goes smoothly and once you sign the deeds, you need to register the property in the local municipal so you can start paying tax on it. And here comes another good news – the Bulgarian properties are taxed yearly and depending on the price of the property. The yearly taxes are usually pretty small, and if you don’t live in the property, you can declare how many months in the year you use it, thus reducing the tax even more.
Gorgeous weather, Cheap Food and Entertainment
Because of the gorgeous weather the country offers with 250-300 sunny days in one calendar year, the cheap food, entertainment, shopping, etc., it is a perfect place for a holiday. That is the reason behind the great rental income that you can get from your holiday home. The capital gains tax is only 10 per cent and is payable to the local tax office at the end of every year.
If you are thinking of a holiday home that is both in an amazing location and is also affordable, don’t hesitate to visit Bulgaria.
Explore it, taste it and feel it – you will certainly fall in love with it!