Investing in real property is one of the oldest and safest ways of investing hard earned money. It is important that you invest at the right time and price. Now is the time to consider investing in Bulgaria as prices are at record lows. More and more people are yearning to own a piece of land in Bulgaria. This is usually by owning apartments in Bulgaria. Bulgaria is known as a great tourist destination. It is known for its historic importance and its scenic landscape. Bulgaria also attracts many investors because there are many cheap Bulgarian apartments for sale. Apartments in Bulgaria have the potential of high returns for investors as they can be leased out to the many holiday makers in the country. Due to the increase in demand many property developers are moving towards developing properties in the form of apartments.
However despite the increase in demand for apartments in Bulgaria, a great deal of potential investors, are barely informed of the procedural law involved in buying apartments in Bulgaria. This article seeks to shed some light into the procedure of acquiring Bulgarian apartments for sale. The procedure for acquiring an apartment property in Bulgaria is a simple and straight forward one. First and foremost it is important that every foreigner should know that the Bulgarian law allows foreigners to own buildings in Bulgaria but until recently foreigners were not allowed to own Bulgarian land. However this law has changed since Bulgaria joined the EU and now in 2012 it the possible for foreigners to buy land in Bulgaria without setting up a company. This is an important new fact that makes it much easier and securer to buy apartments in Bulgaria.
Previously when a person identifies apartments for sale in Bulgaria, he or she should then proceed to seek an appointment to inspect the apartments he or she is interested in. When the potential buyer has inspected the apartment and is satisfied that it is in good condition and meets his taste and desired property, the purchaser then has to determine whether he or she wishes to purchase the property with or without land. The procedure to be followed and costs incurred differ depending on whether land is part of the sale. Read more…