YOUR BULGARIAN PROPERTY SEARCH
A Bulgarian
property search is fast becoming a top priority for many British buyers
looking for a reasonably priced holiday home.
If you
are hoping to let out your property, your Bulgarian property search
may be fuelled by the fact that Bulgaria is the UK's third most popular
holiday destination, after Spain and France.
Whether your Bulgarian property search is for an old farmhouse or
a property on a new development off plan the country has much to offer.
Your Bulgarian
property search is likely to be along the Black Sea coast if you want
a new property, but if skiing is your thing, your Bulgarian property
search could centre on one of Bulgaria's up and coming Ski Resorts.
Country
houses needing some work can still be found for under £10000,
or your Bulgarian property search could find you an apartment in a
Black Sea resort from around £30000. Bulgaria's entry to the
EU is expected to lead to an increase in property values.
Many buyers are encouraged in their Bulgarian property search by the
fact that purchase and running costs also tend to be lower than in
the rest of Europe.
At present,
if your Bulgarian property search is for an apartment, or any property
without land,you can directly purchase as an individual.
If your Bulgarian property search is for a house with land, the law
in Bulgaria states that only a Bulgarian Company has the right to
make the purchase. It is a fairly simple process to set up such a
company, and not prohibitively expensive. Obviously,a lawyer specialising
in Bulgarian law will be essential.
Most reputable agents offering a Bulgarian property search will have
the relevant contacts.
The easiest
way to finance a property found during your Bulgarian property search
by a remortgage of your current property. A Greek bank is offering
euro mortgages on homes in Bulgaria at present- with a minimum loan
of 40000 euros, and an interest rate of 7.5%, full status.
If you
are buying a property off plan, the euro mortgage is not released
until the build is complete, so you will have to remortgage or find
another way to pay the stage payments. All in all, most buyers will
find it much easier and cheaper to raise the finance in the UK.
