The costs of property registration in BulgariaWe all know that buying a property implies not only paying for the square meters, but related costs as well, the amount of which is also rather big. In order to correctly calculate the amount required to purchase a property in Bulgaria, it is necessary to take into account the following costs. What are these costs?
1. The tax on the property purchase. In Bulgaria there is the property purchase tax. It includes a one-off payment of 2.5% to 4% of the total value of the apartment. This percentage may vary, depending on the property location and the decision of local authorities. Sometimes it happens that this tax is already included in the cost of housing, and later it is not paid. Additionally, you have to pay the bank fee (about 1% of the tax).
2. Notary public services. Since registration of the transaction requires notarization, the notary public must be paid for preparation and certification of documents. The cost can vary. If you use a lawyer and an interpreter, you should pay them as well.
3. Collection on register entry. To be enrolled as a new property owner, you have to pay an amount of 0.1% of the purchase price.
4. Registration in BULSTAT Registry and cadastral service. Registration in these offices is mandatory, you’ll be assigned an individual code and will receive card
Also note that immediately after property registration on your name, you will have to pay an annual property tax. The tax amount is also determined by the local authorities. It is about 0.15% of the price of the apartment stated in the title deed, which is one of the smallest flat taxes in Europe.