Situated in an old building in the top center of Sofia, this apartment on a main boulevard is both quiet and communicative. On one hand, it provides a view of the mountain, the neighbouring buildings and the boulevard, and calmness, greened maintained backyard on another. The construction is solid brick and has an elevator, the roof has been recently overhauled. The apartment is below the attic storage rooms. 

The style can be determined as classic, with a slight antique touch. The project for furnishing and renovation is entirely made by an interior designer. The idea is an unison between classic furniture and minimalistic, clear style to be achieved. An interesting accent are the pictures of bedroom furniture on the walls, replacing the real ones and giving space to the premises. The modern painted walls are strongly contrasting the old wooden flooring. This home has atmosphere and elegance, with nothing otiose and unnecessary.

The apartment is 118 sq.m. with opened living-area, combined with the diner and kitchen. There are also three bedrooms and two bathrooms.

Two of the bedrooms are overlooking the backyard, facing South, as the balcony is off one of them, the rest on the apartment is facing North, towards "Dondukov" Blvd.

The first bathroom is quite spacious, with two sinks, bathtub and a shower cabinet, the second one has only a shower.

The property is completely renovated.

VAT not included!

advantages

• interior design furnishing
• renovated
• well-kept building and common areas; elevator
• two bathrooms
• prestigeous location
• property management provided 

Construction type: Brick

Year of construction: 1957 Year

Heating: Central heating

Exposure: North, South

Number of bathrooms: 2

Balconies: 1

Joinery: PVC

• Permission for use granted
• Elevator
• Furnished

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.