Three bedrooms apartment for sale in Ovcha Kupel district

Accents

• Southern, eco-friendly area / no industrial buildings/
• The area is fast developing with predominantly new constructions
• In close proximity of New Bulgarian University and Vitosha mountain
• Convenient location - near buss stop
• Spacious apartment with panoramic view

Characteristics: The apartment is located in panel block of flats, built in 1990. The high floor determines the panoramic view of the premises. The apartment consists of: broad entrance hall with built-lockers and place for laundry, lounge, three separate bedrooms, kitchen-dining room, bathroom with tub, a separate toilet, two terraces  / one glazed with PVC joinery.
Finishing works: The floor of two-bedroom is oak parquet, all other facilities are under terracotta. 
Bathroom: Terracotta, faience, a bath. Separate toilet-terracotta, faience.
Exhibition: Kitchen and bedroom-northeast, the living room and other bedrooms-southwest.
Furniture: The announced price included: orderline kitchen, bar in the living room, bed, set / white bedroom, bedroom furniture child-large wardrobe and bed / if necessary, becomes a double bed.

Additional information:

Its easy with us...

We, Mirela Real Estate Agency always strive at making the process of finding and buying property as easy as possible for our clients, that is why we offer a number of services, some of which are directed especially to our foreign clients. If you are a foreigner and wish to buy or rent property, you shouldn't miss the opportunity of having full use of the services by our teams of professionals in the sphere of real estate. They will provide you with helpful service, taking into consideration all the details, as well as legal assistance during the whole process of buying or renting property in Bulgaria. This includes solicitor's assistance, full checks of the approved property for encumbrances /mortgages, restraints, statements of claims, established real rights/, preparing all relevant and necessary contracts and paperwork. We are also ready to organize your welcome and stay in Bulgaria, as well as accommodation in a hotel of your own choice, visiting the properties that may interest you, together with a real estate broker and a translator and arranging transportation. You may need advice after the purchase as well - we are there to help. We can also provide quality building and refurbishing works (organization of the inner reconstruction and repair of the bought property)- in case you decide your property needs some finishing touches. We also organize preparation of a designer's conception for the overall finishing of the property.

Construction type: Panel

Year of construction: 1990 Year

Heating: Central heating

Exposure: North-east, South-west

Number of bathrooms: 1

Balconies: 2

:

Joinery: Wood windows

• Permission for use granted
• Elevator
• Furnished

Agent's valuation of the offer Excellent!

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.