Although it is entering the mainstream, Bulgaria still has a few quirks when it comes to buying property.

If you are buying an older, resale property, be prepared for the seller to want to state a lower value on the contract of sale than is actually being paid. This is because sellers have to pay tax on the proceeds of property sales.

While this is customary and widely accepted, you are not obliged to do it (although older sellers especially may be fairly disgruntled if you refuse!).

Obviously such problems do not exist with new builds, and no doubt this custom will gradually die out, as it has in most other areas of Europe.

Be aware too that new properties are often sold as “shells” – not fitted out and ready to live in as they are in the UK. Make sure you have an exact, written agreement with your developer as to what you should expect when your property is finished.

Glossary of Key Bulgarian Terms

BGN – Bulgarian Lev – the national currency

 

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