Annual cost of buying a property

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Annual cost of buying a property

The annual payments following the purchase of a real property comprise the payment of annual taxes and individual operating costs.
1. The taxes in Bulgaria are considered to be some of the lowest in Europe. They include:

  • annual real property tax – 0.2% of the tax assessment of the property;
  • refuse collection tax – 0.15% of the tax assessment of the property.

2. Individual costs: water and electricity supply bills are paid based on the readings of the meters installed in every flat, according to the following tariffs:

  • Electricity supply – 0.085 EUR/1 kW/h
  • Water supply – 1 EUR/m3

In addition, owners normally pay for additional services – telephone and internet.
Sample tariffs:

  • Telephone: opening of a new telephone line – EUR 10-15; monthly subscription – EUR 7-10.
  • Internet: initial installation fee – EUR 15-20; monthly subscription – EUR 10-15.

In addition, if we speak about organised closed-type settlements or newly constructed flat complexes, there is an annual maintenance fee. It suggests maintenance of the adjacent area of the complex (landscaping, swimming pool maintenance, outdoor illumination of the territory and illumination of the common parts, cleaning of the common parts, 24-hour all year round security services). A maintenance fee is paid on an annual basis, which for the different properties is from EUR 6 to EUR 12 per year per m2 (depending on the nature of the complex infrastructure).

If you have any questions – please refer to our specialists, they will explain in detail the taxes and fees, and also the methods of their payment.

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