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The Times: Why in Bulgaria?

Why not?

There are still restrictions on foreigners buying properties with land, which includes anything with a garden. The way round this is to set up a company, which can be arranged by agents. Such restrictions are expected to be removed as part of
Bulgaria's preparation for joining the EU but there is some opposition, caused by fears that foreign buyers will snap up agricultural land. Bulgaria has problems with crime and corruption and although is more politically stable under the current Prime Minister, the former king Simeon II, there are some who are less enthusiastic about the reforms required to meet the standards set for EU membership.

What do the Bulgarians think of foreign buyers?

It would be understandable if Bulgarians have mixed views about overseas
buyers regarding the country as good for cheap property. Houses for £20,000 may
look like a bargain to UK buyers, but it is worth remembering that the average
annual income in Bulgaria is about £1,000. Agents say that most people, however,
welcome the foreign investment.

What are the costs?

Both buyers and sellers pay commission to estate agents, with charges ranging from 3 per cent to 6 per cent. There is also a form of stamp duty equivalent to about 2
per cent of the price. Balkan Ski Chalets charges 10 per cent of the purchase
price, which includes agency fees, legal and translation costs but excludes
stamp duty and survey costs. For properties with land the charge is 12 per cent,
which covers the cost of setting up a company to buy the property. Many agents
levie a 10 per cent charge to cover fees and legal costs, with a minimum charge
of £1,500.

What's on the market?

Properties come in a wide variety of prices. For anyone seeking rustic solitude a four-room house near Veliko Turnovo, in need of work and without water, could be yours for £5,000.
Also available are assorted seafront properties - a new villa at Varna, where
there is an airport, will cost you £49,000. A luxury, architect-designed
seafront villa with a heated pool is offered at £172,000. For skiing enthusiasts
there are new flats in Bansko from £12,000, while a five-bedroom house in the
town is priced at £46,000. Flats in the new golf resort on the Black Sea are
priced from £30,000.

Getting there

There are direct flights year round from the UK to Sofia, with the Black Sea served by airports at Varna and Burgas. Out of season, however, when the charter flights from the UK are not operating, visitors to the Black Sea will need to fly to Sofia and take an internal flight. For the best offers on flights you should try tour operators that offer flight-only deals, such as Profi Tours Ltd. For travel arrangements see below.

More information

Visitors from the UK are automatically granted a visa for a visit of up to 30 days. For longer visits you will need to arrange a visa extension. For information on visas and tourism in
Bulgaria call the Bulgarian Embassy in London on 020-7584 9433 or see www.bulgarianembassy.org.uk . To find out more about life in Bulgaria there are
a number of English language newspapers with online sites including the Sofia Echo at www.sofiaecho.com.

For details of skiing in Bulgaria have a look at www.BulgariaSki.com
For details on the beach resorts and holidays visit www.BeachBulgaria.com