What is the weather like?
Winters are cold and sunny, summers are warm and sunny. There are about 250 sunny days a year. The average January temperatures are around -5°C in the valleys and ski resort. Average summer temperatures vary between 14°C and 19°C. The air is crystal-clear and fragrant with the smell of pines. Chill mineral water gushes down mountain streams abundant in trout. There is no dust or air pollution and the atmosphere abounds in ultraviolet rays.
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FAQ
What are rentals like?
It is interesting to note that rentals of same class accommodations vary between GBP 359 to GBP 579 per person per week, through Balkan Holidays (including flight). Studio accommodates two people, 1-bedroom apartments accommodate four people. Rental income for Bansko properties varies between GBP 2.240 and GBP 4.850 for the winter season, and GBP 2.100 to GBP 4.550 for summer season.
What about taxes?
Most of the Bulgarian property owners wish that the "tax estimation price" (rateable value) is written in the title deed, and not the selling (asking) price which the buyers are paying, so due to this practice there might be discrepancies between the price you are paying and the price written in the title deed. This is because of various reasons and we can not be responsible for it.
For further information, please refer to this PriceWaterhouseCoopers Bulgaria Real Estate Summary or Comprehensive Tax Guide to Bulgaria
Can I get a mortgage?
Archadia has joinded forces with Piraeus Bank London to offer mortgage loans to UK and Ireland residents planning to invest in Bulgarian properties. Applying directly to Piraeus you spare from intermediary and broker fee.
Piraeus Bank Group is one of the most active financial institutions in Eastern Europe. Founded in 1916, Piraeus Bank went through a period of state-ownership and management (1975-1991) before it was privatised, in December 1991. Since then, it has continuously grown in size and activities.
Piraeus Bank Group has a growing international presence, mainly focused in Southeastern Europe, but also in the financial centres of London and New York. In particular, the Group is present in the USA through Marathon Bank, based in New York (which in January 2004 also absorbed Interbank NY), having a total branch network of 10 units, in London with a branch of Piraeus Bank, in Albania through Tirana Bank with 22 branches, in Romania through Piraeus Bank Romania with 14 branches and in Bulgaria with 13 branches of Piraeus Bank.
Incorporated in Greece with limited liability – Regulated by FSA for the conduct of investment business in the UK .
Branch registration no. BR005808.
BPL 092004
Click here for Lending Criteria and application process. You may also find Summary Terms of Mortgage Loans, as well as an example.
For free, no obligation cost please download the brief questionnaire and faxed it directly to Piraeus Bank London on 020 7920 6001.
For more question you may contact our sale representative or Piraeus Bank
mortgages@piraeusbank.co.uk
What is the law on foreigners owning property in Bulgaria
"Foreign nationals and foreign legal entities may acquire ownership title over buildings and limited ownership rights over property in the Republic of Bulgaria.
Foreign individuals cannot own land (this is a Constitutional prohibition). However, the Foreign Investment Law removed the restrictions on acquisition of land by locally-registered companies with foreign participation. By setting up or joining a company incorporated under the Bulgarian legislation foreign persons can acquire full land ownership rights including ownership rights on agricultural land."
[From Bulgaria Foreign Investment Agency website.]
Is the advertising of my property part of your services or is this available at additional cost (about rent)?
Advertising of your property is part of our services after signing a Rental Contract. Rental Terms and Conditions might be seen at Balkan Property Management site.
How I can put on rent my apartment?
We are providing a quality rental service, through company Balkan Property Management
Is there some sort of security to the main entrance of each block?
Yes. 24 hours concierge will be provided.
