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PROPERTY INFORMATION SERVICE FOR SOUTHWEST BULGARIA (PISSB):
PenBro offers a comprehensive Property Information Service for Southwest Bulgaria (PISSB) to assist you in selecting and purchasing your investment or holiday property in Bulgaria. Our PISSB personnel offer a complete service from the initial search for selection of properties meeting your requirements, assisting you with all of the legal and bureaucratic documentation and procedures, and supervised building / renovation / extension services as may be required.
PenBro also offers the Holiday or Investment home owner a full back-up service inclusive of PenBro Property Watch that includes random property visits and security checks, routine maintenance and emergency repair service, and property preparation prior to, and property closure after, visits by the owner and their guests.
PenBro will NOT assist you purchase property until AFTER you have visited and viewed property.
PenBro offers a full information service to clearly explain exactly what is involved in purchasing property in Bulgaria. As importantly, to clearly explain the lifestyle and culture of the local area to enable you to make a fully informed decision BEFORE you proceed with a property purchase.
PURCHASING AND OWNING PROPERTY AND LAND IN BULGARIA
Foreigners can establish a company in Bulgaria and the company can own land.
To establish a company in Bulgaria costs approximately £600.
It is expected that Bulgaria will join the European Union in January 2007. Consequently, the current Bulgarian Act on Foreign Ownership will be harmonised with EU legislation in the future. At such time citizens from other EU Member States will have the same rights as Bulgarian Nationals of property and land ownership in Bulgaria.
PROPERTY IN BANSKO AND NEIGHBOURING VILLAGES
Banya (3 Km from Bansko) currently has property prices around half those in Bansko and these have doubled in the last 18 months. Banya is rapidly becoming the 'professional / business person' settlement area in the region with professionals and business people from Sofia and abroad buying property. But, there are still 'bargains' to be had and prices will increase greatly over the next few years.
There are several other villages in the area i.e. Dobrinishte (5km east of Bansko on the road to Gotse Delchev); Bachevo and Godlivo (each about 10 minutes from Razlog and 15 minutes from Bansko); Dolno and Gorno Dragliste (each about 15 minutes from Bansko) and Dobursko (25 minutes from Bansko). The prices in these villages are significantly lower than in Banya.
Your investment in this entire region will steadily increase in value and this is unlikely to happen in most other areas in Bulgaria in the foreseeable future (Black Sea coast being the exception!).
For approximately Lv. 25000 - 50000 you can expect a fairly basic property that will require repair and refurbishment. You will probably need to install a new toilet/bathroom and basic kitchen before moving into the property. Otherwise, a few days with the paintbrush and it should be reasonable to live in!
NOW is the time to buy property in this area as prices are steadily increasing, and will increase substantially in the Springtime. The legal paperwork can take from several days to several months to finalise (i.e. to make a thorough check that the owner is the sole owner, etc!).
HOW CAN PENBRO PISSB HELP YOU?
A part of PenBro (our Company) is PISSB, and what we offer is the following:-
You do NOT give us any money for the property. ALL payments are made by YOU directly to the owners, but only after the Solicitor acting on your behalf agrees that the paperwork is correct! The Solicitor we will recommend to you is an expert in property sales who will ensure that the property owner with whom YOU deal with is the exclusive owner. This is something to be very careful about as it is not uncommon for a property in Bulgaria to have more than one owner, with each owner having a percentage share in the property!
The PenBro philosophy is that we wish you to contact PenBro as a client and upon completion of the transaction you are a friend.