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.

IMPORTANT:

PenBro does NOT offer property for sale, but rather it provides you with the information required that enables YOU to purchase property in Bulgaria.

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

The current Bulgarian Act on Foreign Ownership states that non-Bulgarian Nationals (= Foreigners!) may not own land in Bulgaria. However, foreigners are allowed to own buildings 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.

BANSKO REGION

Bansko is currently the fastest growing investment area in Bulgaria and is being heavily promoted as a major European ski centre. This season (winter 2004) a new Gondola Cable Car has opened along with 7 new ski runs ($20M investment). Bansko is being heavily advertised as THE ski centre in Bulgaria, and in 2004 major tour operators in the UK will promote Bansko as a major spring, summer and autumn 'mountain and lake' holiday destination.

PROPERTY IN BANSKO AND NEIGHBOURING VILLAGES

Property prices in Bansko are expensive!

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?

As 'foreigners' from Scotland we have been through the entire process of moving to Bulgaria (permanently), buying property, building a small hotel from new, and starting a business. We have 'learned the ropes' through 'hands-on' experience and we can share this experience with you.

A part of PenBro (our Company) is PISSB, and what we offer is the following:-
We are NOT a Property or Estate Agency!
We can provide assistance to you in finding and buying a property.
We do NOT buy or sell property - we simply arrange for you to visit property for sale and to meet the owners
YOU enter into the negotiations about purchasing the property. We can assist you by recommending a Solicitor to help you with the legal documentation.

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!
We can sit with you and explain the various procedures i.e. how to go about obtaining a long-term residence Visa, etc. There are the official stamps i.e. on marriage certificates, on any Pension documents you might have, etc., that you should arrange before moving. Also, how best to ship your belongings from the UK. Once you arrive we can guide and assist you through the various procedures and even recommend a translator that has been through the various procedures with us!
We can discuss with you what work might need to be done before you move into the property and obtain estimates for any such work from builders we now know provide a reliable service. Most importantly, we can recommend an independent expert (independent from the builder) who can supervise the work.
We can share our experiences of where to go to get things. This sounds inconsequential but there is a not a local B&Q or Tesco, therefore trying to buy a few screws, a sink etc., or some of the little things that you miss from the UK can be a complete mystery. We can also recommend a superb Dentist (a ceramic crown costs about £30!) and there is an excellent Health Centre in Razlog with modern equipment.
There is a scheme where 'foreigners' can buy a car here and do not have to pay the VAT (20%).
If you decide you want to rent your property we at PenBro can help by advertising your property on our Website. As important we can meet and greet your guests and help them arrange car hire, etc. We can also ensure the cleanliness of the property and provide a welcome pack on your behalf to your guests. Finally, on departure we can ensure the property is prepared for the arrival of your next guests.

The PenBro philosophy is that we wish you to contact PenBro as a client and upon completion of the transaction you are a friend.