location

 
Central Park Resort I is located in the vicinity of Bulgaria's largest economic, administrative, educational and cultural center - only 8 miles away from downtown Sofia. At the same time, the usual shortcomings of capitals, such as rushing crowds, loud noise, hard pressing traffic, and pollution, are simply left away.

Our convenient location, however, provides wonderful communication links and extremely handy access to main roads. Bulgaria's longest highway ("Trakia") is only 500 m away and Sofia International Airport is only 9 miles away.

the project

 
Central Park Resort I occupies an area of 20 200 sq. m and comprises 15 modern residential buildings. Each building includes between 20 to 26 apartments of various size and disposition. the total number of the apartments is 372 with different area and disposition.

The residential complex offers a great number of 1-, 2- and three-bedroom apartments with a choice of square surfaces. There is an attic room to each apartment. Free parking places for the residents!

Central Park Resort I caters for a full-value modern life: commercial and spa center, fitness and indoor swimming pool, supermarket and shops, medical centre and reception desk, restaurant with a bar, children's playground, spacious green areas, three parking lots with over fifty parking spaces, live security, as well as video surveillance.

An outdoor swimming pool and a multi-purpose field, hosting:

• a mini golf course;
• tennis court;
• basketball pitch;
• volleyball pitch;
• stage of completeness

About the apartment

There are two options: putty and ground coat - price from 620 to 650 EUR/sq.m., fully finished - price from 700 to 730 EUR/sq.m.

Disposition: One-bedroom apartment: living area with a kitchenette /21.70 sq.m./, a bedroom /12.94 sq.m./, a bathroom with a toilet /3 sq.m./ and a balcony off living-room and bedroom /5.85 sq.m./.

Exposure: North-west.

The total square surface includes storage located on the top/roof floor with area of 8.16 sq.m.!

complex maintenance

There is an obligatory year fee for common parts maintenance - green areas, swimminog pool, stairs, parking places... The fee is 300 EUR no matter the square surface of the apartment.

Accents:

• residential gated complex
• only 13 km. away from the city centre of Sofia
• 7 km. away from the golf course in Ravno pole village
• excellent prices
• proved building company

Construction type: Brick

Year of construction: 2008 Year

Stage of construction: permission for construction granted

Completion date: 10.2010

Heating: Local heating

Exposure: North-west

Number of bathrooms: 1

Balconies: 1

:

Joinery: PVC

• New development
• Mortgage
• Security

Agent's valuation of the offer Excellent!

See the project

Property Taxes in Bulgaria

A foreign investor can invest in properties in Bulgaria either directly or through a local legal entity. Only Bulgarian-resident individuals and entities can acquire title to land, while non-residents may acquire only buildings and limited rights (e.g., leasehold and construction rights) to land.

If you are investing in Bulgaria, as a non-resident property owner, you could be liable for the following taxes:

Property Purchase Tax

The purchased property will be subject to a notary and a municipal tax. The notary tax is paid on the higher of the market price or the book value of the property. Rates vary and are typically less than 1%. In addition, 2% of the market value of the  property is paid as a municipal tax. This money goes to the municipality in which the  property is situated. You pay these taxes after you have signed the notary deed.

Annual Property Tax

All property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property.
In addition to this tax, owners also pay a waste-collection tax. The rate depends on the 
location and size of the dwelling. The amount of tax payable is usually about GBP30 per year 
for rural property and about GBP100 per year for apartments in city centers.

Tax On Rental Income

This is subject to a 15% withholding tax after deducting allowable expenses such as mortgage interest etc. It is not stable and depends on the gross  annual income of the person.

Wealth Tax

No Wealth tax in Bulgaria.

Capital Gains Tax (CGT)

This is levied at 15% on any increase in the value of the property.

Inheritance Tax (IHT)

This was levied at up to 10% up to 2004, but has been abolished altogether in 2005.

Value Added Tax

Transactions with land and lease of property for residential purposes are exempt from value added tax. All other real estate transactions are subject to VAT at the uniform rate of 20% (will be changed after Nulgaria joins to EU). The buyer/lessee is entitled to a VAT refund, provided it is registered for VAT purposes.

Corporation Tax

As some property interests in Bulgaria cannot be held directly by foreigners, buying through a local Bulgarian company is recommended. If you own a company in Bulgaria, note that in January 2005 the rate of income tax for a  corporation in Bulgaria was reduced from 19.5% to 15%. The tax year in Bulgaria ends on the 31 December. A limited company must file an annual report by the 31 March. If you incorporated a limited company to purchase a house or land, then there will be no  tax liability, as the company was not trading. However, you still must submit company  accounts to the Companies' House Register in Bulgaria every year to satisfy the authorities that the company was not trading. This is a legal requirement.