LEGAL ADVICE

Dear clients, we, at Mirela Real Estate agency know perfectly well that the realization of investment real estate deals in Bulgaria is a process that requires a good knowledge of the Bulgarian legislation, the last tendencies in the real estate market development, the administrative terms and procedures related to realizing property deals in Bulgaria, as well as a good knowledge of the usual rules, procedures and methods of approach to the negotiating of the deals with the Bulgarian developer or the owner who sells the property.
For this reason, our real estate consultants have as their primary goal not only getting you acquainted thoroughly with the characteristic features of the properties you intend to invest in, but also consulting you about all these questions.
You can ask us all questions the concern you beforehand, and our legal advisers and sales managers will answer them as soon as possible.
You can be absolutely sure that the real estate brokers who work at Mirela Real Estate Agency are ready and perfectly trained to accept all real estate purchase deals as a deal with the purpose of investment – a deal that must be successful for our clients.

It is good to know that real estate market in Bulgaria is particularly well developed due to the fact that more than 80% of the residential properties are private ones, resulting in the traditions and experience Bulgarian real estate owners have in realizing property deals.
Even though Bulgaria was accepted to the European Union, the prices continue to stay by far lower as compared to the prices of real estate in Europe. However, a rise in the prices is expected as the real estate market is becoming more and more attractive to foreign investors
due also to the fact that is has lots of assets not yet displayed. However, as they are underestimated to a great deal, lots of real estate properties of excellent quality, location and investment are still with no owners – no one has started to earn money by their quality and the exceptionally beautiful nature around.
According to the Bulgarian Constitution and Legislation, foreign investors and citizens in Bulgaria can obtain only buildings, not land. Only Bulgarian citizens and legal entities can obtain Bulgarian land. If you want to buy an apartment, a house, or a cottage/villa, or you want to get limited ownership rights such as the right to build a house, for example, you can purchase them as a person. With land, however, a good idea is to choose a company and assign it as the owner of the property you want to buy. This should be done with the help of a good barrister at law and the process is not difficult at all.
Another way is to obtain a company through a privatization. There are no limits on the stake you may possess. If you don’t want to own a company, you can establish a joint venture with an existing Bulgarian company. There are other ways, about which you can receive exhaustive information and answers to everything that is of interest to you by our advisors.

After the process of purchase is over you shouldn’t expect to move in immediately, however. Usually it takes up to a month for the old owners to move out, which, of course may be negotiated. You should also know that in Bulgaria there is a "tax estimation price" which is much lower than the actual selling price and that most Bulgarian sellers prefer it to be written in the title deed.
We will not give you only advice, we will be by your side through the whole process of the acquisition of the desired property. You can absolutely rely on our team of professionals for help and support. We will be at the airport to greet you if you prefer, or we will recommend a number of good hotels for your stay in Bulgaria or arrange your accommodation. A real estate broker and a translator will accompany you to the viewing trips to provide all the information you want to know about the property. We also offer property management and finishing works of the apartment/house you purchased - so that you feel the coziness of home in Bulgaria. The team of Mirela Real Estate Agency will put all our efforts to make your stay in Bulgaria as pleasant as possible, so that you can choose the best property to invest in or to live in.

You can read more about the services we offer to our foreifn clients here. In case you didn't find the answer to what was of interest to you, submit an enquiry.