Wealthy Russians, middle-class, today there are almost no opportunities to buy real estate in their home capital. But it is quite possible to afford an apartment in another, also a European capital. let us say, In Bulgaria.
Situation, in which many Muscovites now find themselves, just ridiculous. And a few years ago it was unrealistic to believe in her. Do you have a salary, let us say, $3-4 thousand., however, you cannot afford anything from real estate. Willy-nilly, you start to look at the markets of neighboring countries…
And then it turns out: the, what seemed fantastic before, reality today. One-bedroom apartment in Bulgaria costs $36 thousand. Well, why not buy it in this situation? Yes, there are some difficulties: eg, only two banks give mortgages for real estate objects abroad in Moscow - no one wants to be forced to sell an object in another country. Yes, collect on the fly $36 thousand. even with a salary of $3-4 thousand. pretty hard.
But there are consumer loans, relatives, ability to save, eventually. And in any country there are real estate agencies, ready to take your apartment into trust management and rent it to you and yourself for your joy. And even renting out quite inexpensively (one-bedroom apartment in Varna for 1,5-2 thousand. Euro per month), loans can be returned, and postpone for a new apartment…
There are a lot of reasons. One of the most important is the similarity of mentality, cultural traditions, and the climate, eventually. The former countries of the socialist camp are still much closer to our compatriot, than distant and incomprehensible Western Europe or, eg, America.
Bulgaria is located in the extreme south-eastern part of Europe, occupies the northeastern part of the Balkan Peninsula. As in area, and in terms of population, this country is one of the smallest in Europe. The importance of Bulgaria is determined primarily by its geographical location, t. to. it is located at the crossroads of Western and Central Europe, Near and Middle East. Many are pleased with the presence in Bulgaria of the Black Sea coast so beloved by our compatriots.
After Bulgaria's accession to the European Union, property prices are growing rapidly, but have not yet reached their limit, Consequently, a purchase can also be viewed as an investment. The weather here is somewhat reminiscent of Greece, that is, it disposes to rest. Interesting, that now tourism is actively developing in Bulgaria: the number of foreign tourists increases by approximately 25% Every year. It means, that there will be more and more opportunities to rent an apartment, and rental prices will rise. At the same time, the country has a stable political and economic situation., that is, you, and your property is unlikely to be threatened.
How to buy property in Bulgaria
Bulgarian legislation allows the acquisition of real estate by foreign individuals on their territory, but with some restrictions. So, can buy an apartment in ownership as a physical, and a legal entity with foreign citizenship.
But when buying a villa, you should keep in mind, that land is not for sale to foreigners, but for long term rent, which term, however, has no upper limit. To buy land ownership, you need to become a legal entity. When registering real estate in ownership (which in Bulgaria is carried out strictly with the participation of a notary) you will need to pay the applicable taxes - about 4% of the purchase price.
For registration of real estate, the buyer - a foreign individual - must submit a copy of the passport and a power of attorney to the person, having the status of a long-term stay in Bulgaria. When buying for a legal entity - constituent documents for the company. The owner of real estate in Bulgaria is obliged to pay real estate tax annually, tax for household waste and pay according to meter readings for water and electricity consumption. The amount of real estate tax does not depend on the status of the owner and is the same as for individuals, and for legal entities. Rent in our understanding does not exist.
Minuses, which should be considered
Although we are still talking about a noticeable increase in prices for Bulgarian property, still compared to the last two or three years, when prices rose literally every day, the market has calmed down a little. So, at the beginning of this year, many owners withdrew their offerings from the exposition until then, until they orient themselves in the new market conditions.
“Bulgaria continues to be a very attractive new real estate market, but the rate of return on investment, invested in real estate, starts to decline ", - says the British consulting company "Asets". In its opinion, this year, Bulgaria's competitors in the real estate sector are Cyprus and France. However, other experts claim, that house prices in Bulgaria can jump by more than 70% precisely in connection with the country's membership in the EU. And according to the forecast of the Bulgarian consulting firm "Industry Watch", average property prices will continue to grow smoothly, increasing by 12-15% in year.
When it comes to supply in the housing market, then in the capital today it exceeds demand, and we can say, that the market has reached saturation point. of course, there are areas, in which traditionally demand exceeds supply - this is, eg, the prestigious metropolitan area of Lozenets. This is where apartments are more often bought for investment., than for permanent residence. Demand exceeds supply in the Mladost metropolitan area, especially in those parts, who will be next to the new metro line.
A great demand for housing is observed today in large cities of the country. Experts predict, that investor interest will soon shift to smaller towns, like Pleven, Gabrovo, Samokov, The hunter. Today real estate prices there are two times lower, than in large cities in Bulgaria.
Author: Galina Evdokimova
A source: prian.ru