1 BR apartment for sale in a communicative area near the central part

The apartment is located in a rather communicative area near the central part of the city of Varna. There is a school, a kindergarten and a market place nearby.

disposition

The apartment comprises an entrance hall, a spacious living room with a kitchenette, a bedroom, a bathroom with a toilet, 2 terraces. The living room is large and spacious and there is a possibility to be divided into two smaller rooms. Along the living room is set one of the terraces which is split in two - a part of it is with a PVC joinery. The other terrace is accesible from the bedroom and faces the street.

standard of finishing

• Flooring: bedroom and living room - parquet and terracotta;
• Bathroom: Greek faience and terracotta; fully outfitted with a bath-tub;

accents

• near downtown;
• good disposition;
• good quality construction;

Why you trust us...

When organizing your trip to Bulgaria to view or purchase property it is very important that your trip is free from any troubles so you can focus on the main reason for your trip - to choose the right property. We, at  Mirela Real Estate agency will be more than happy to organize your viewing trip to Bulgaria.

Before you come to Bulgaria we can organize or recommend a number of hotels providing accommodation.

On arrival you will be greeted by a friendly and highly trained representative.

Afterwards we will arrange for you the viewing of properties you may be interested in at any time convenient to you. At that time you will be accompanied by an experienced and qualified employee of ours to provide consultancy, interpretation and assistance when required.

Finishing and furnishing...

For owners of properties in Bulgaria, interested in renting their premises or for those who want to feel their property like a real home we can take up organization and control or full completion of construction or repair works. Mirela Real Estate Agency is in partnership with companies that offer complete line of furnishing services including ready set furniture packages that meet the requirements of the rental management companies. If you prefer our partners can help you design an ideal interior to suit your taste and style, and completely furnish the property  so that  everything is ready for you. 

Varna is Bulgaria's Sea Capital. The gem of the Bulgarian Black Sea is situated at the end of the big Varna Bay, with a convenient and well conserved water area a port wich in years handles up to 18 million tons of cargo. The ciry's peculiar sea charm is sublime and moving. Ancient, medival, renaissance and modern cultures mingle and coexist through the city. Varna lies on the same latitude of the famous Atlantic resorts Bayonne and Biarritz in France, on a large, flat and high terrace on the northwestern most curve of the bay wich just some 7km inland. The city occupies some 24sq km, measuring 6km northeast-southwest and is about 4km wide. During the holiday season, July and August, the sunshine allows 10-11 hours of sunbathing. There is nothing of the col Baltic wind or the summer Riviera heat.
The city is clean and green. Of the green miracles at least three are a must: the Marine Gardens which are the largest in the Balkans; Euxinograd park, the former Royal Palace; the paradise of St. Konstantin.

Varna is a city of old culture, living traditions and ambitious undertakings. Some 20 percent of its population are students in various educational institutions, four of wich are higher.

Belogradchik Rocks have attracted 155 000 tourists since January 2009

Construction type: brick

Year of construction: 1997 Year

Heating: Air conditioner

Exposure: East, West

Bathrooms: 1

Balconies: 2

Joinery: Wood windows

• New development
• Resellers

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.