A first class residential- administrative gated complex in close proximity of Bulgaria Blvd.

Manastirski Livadi Quarter prospects well among the quarters on the outskirts of the capital. It is situated in the southwest part of Sofia. To the west, it borders Bratya Buckston Blvd., to the northeast and east - Todor Kableshkov Str., to the southeast - Srebarna Str., and to the south it is connected with the Ring Road

The apartment we present to your attention is set in a gated residential complex in close proximity of Bulgaria Blvd.

Disposition : An open plan living room with kitchen box and dining area ( 40 sq.m), three bedrooms ( 17.90, 11.90 and 13.35 sq.m), two balconies, two bathrooms together with WC and, and separate WC.

Exposure: The living room faces south towards Vitosha Mountain, the bedrooms face north towards the yard of the complex.

Floorings and walls: Latex painted walls and granite tiles floor in the corridor, laminated parquet in the rooms.

An underground garage of 24.26 sq.m at the price of  EUR 17 368

The offered price includes VAT

Additional info

You can rely on a Mortgage Loan from a Bulgarian bank that will finance your purchase, even if your income originates from another country. Mirela Real Estate agency has a partnership with leading Bulgarian Banks based on a licensed contract, by the force of which we represent them, a sign of respect and trust. Our credit specialists offer consulting services to our foreign clients and this service is free.

Here are the main characteristics of a standard mortgage loan in Bulgaria are, as stated by two of the leading banks in the country - United Bulgarian Band and First Investment Bank.

UBB -United Bulgarian Bank

The client segments are the citizens of the European Union, USA and Canada. The minimum amount of the credit is Eur 7500, the maximum is Eur 250 000 for a period of up to 20 years. A person must be at least 23 years old to be considered eligible and the age plus the loan period shouldn't exceed 65 years. For the first year the interest rate is 1.5% or 5.9% for the first 3 years. There is a standard interest rate for the rest of the loan period which is 6.5%. The bank has an application fee of BGN 20 and an administration fee of 0.5%. The prepayment fee is 5%.

First Investment bank

Every able local or foreign citizen is considered an eligible borrower. However, if the acquired property is a plot, a local citizen should acquire a property. There are no limits concerning the maximum loan amount. The maximum term is 240 months with a loan purpose - acquisition of a real estate.

There is an option of a period when the borrower pays only interest which may be up to 12, 24 or 36 months. After it equal monthly installments during the loan term are paid. In case of overdue payments the bank charges a penalty interest rate. The application fee is Eur 50 and the management fee is 2%. You can read more on the fees and charges on their website. The applicant's income should be 1.50 times the monthly installments. The minimum income that should remain per member of the household is 500 Eur for adults and 250 Eur for children.

The term for approving the application is usually up to 2 days.

Construction type: Brick

Year of construction: 2007 Year

Stage of construction: permission to move in granted

Completion date: 08.2007

Heating: Electricity heating

Exposure: East, South

Number of bathrooms: 3

Balconies: 2

Joinery: PVC

• Permission for use granted
• New development
• Elevator
• Security
• Garage

Agent's valuation of the offer Excellent!

See the project

Acquisition of land by foreign citizens and foreign legal entities in Bulgaria after 01.01.2007

According to the commitments of Bulgaria made in the process of European integration in Art.22 of the Constitution, changes have been made to harmonize Bulgarian legislation with the law of the European Union. According to these changes, foreigners and foreign legal entities can acquire ownership of land in the following cases:

I. as provided in the terms and conditions of the Accession Treaty of the Republic of Bulgaria to the European Union;

II. by virtue of an international treaty, ratified, promulgated and entered into force for the Republic of Bulgaria;

III. through inheritance by law.

I. The legal framework related to the acquisition of land is outlined in Attachment VI, Section 3, Clause 1 Free movement of capital of the Accession Treaty. According to this Attachment, foreign citizens of the member-states of the EU or the European Economic Community (EEC), as well as foreign legal entities established in accordance with the legislation of a member-state or a state consituting a party to the EEC Agreement, who are legally staying in Bulgaria from 01.01.2007, can acquire ownership of land for a second home according to the rules of land acquisition applying to Bulgarian citizens. A legal definition of the term "second home" is given in the Amendment and Supplement Bill to the Ownership Act, where it is written that a "second home" is the one different from the main home one possesses in any of the EU member-states.
According to the norm, all limitations to citizens of the EU and EEC member-states who are permanently staying in Bulgaria are no longer valid. A definition of the term "permanently staying" is given in the newly adopted Act on entering, staying and leaving the Republic of Bulgaria by EU citizens and members of their families /State Gazette, Issue 80 of 03.10.2006/.
For citizens or legal entities who are not permanently staying in Bulgaria, limitations to the acquisition of land for a second home are introduced, i.e. they shall be limited as to this right. The time period of this limitation is 5 years, i.e. up to 2012.
As regards the acquisition of ownership of agricultural land and forests, Attachment VI, Section 3, Clause 2 introduces a 7-year limitation period, in which citizens of the EU and legal entities, established in EU member-states cannot acquire such land. This, however, does not apply to "independently employed agricultural producers who are citizens of another member-state, and who wish to settle and stay legally in Bulgaria".
Bulgaria has the right, irrespective of the time periods specified above, to make a general review of these transitional measures in the third year from the EU accession, i.e. in 2010. In view of this aim, the Commission shall present a report before the Council. The Council can vote unanimously by proposal of the Commission to shorten or to lift altogether the transitional periods of 5 and 7 years respectively.
In connection with these changes, there are amendments to the Forestry Act, Protected Areas Act, Agricultural Land Ownership and Use Act, and the Act on Restoration of Ownership over Forests and Land in the Forestry Reserve Act being prepared as well.
See also
http://www.parliament.bg/?page=home&lng=en&r=n

II. The issue of acquisition of land by foreign citizens and foreign legal entities established according to the legislation of a state which is not a member of either EU or the EEC is referred to in the second hypothesis of Art. 22 of the Constitution. Such citizens and legal entities can acquire ownership of land by virtue of an international treaty, ratified, promulgated and entered into force for the Republic of Bulgaria. This regulation is valid as of 01.01.2007 and there is no hypothesis for amendment within a certain time period.

III. In the old Art.22 there was an obligation for foreigners, who have acquired land by inheritance, to alienate it within 3 years of the acquisition. This text has already been cancelled. The regulation, however, still exists in Art.29, para.2 of the Ownership Act. This limitation is planned to be cancelled with the changes in the Ownership Act, and thus a restriction will remain only in relation to the acquisition of agricultural land and forests.