Selling off-plan houses, villas, apartments in Bulgaria, by the sea.

Villas and apartments
200m from the sea, private gardens, roof terraces ... »

Payment

There are no advance payments, even though the properties are sold off-plan. Payment is made in arrears, as each stage is completed. This is designed to give peace of mind; unlike other schemes, the purchaser owns the building and the land while it is under construction.

There is a tax advantage in doing it this way. Land and labour is zero rated for VAT in Bulgaria. So you only need to pay VAT on the materials. If however you buy a new house or apartment which is already built, you have to pay 20% VAT on the full sale price (including land and labour).

The payment stages are as in the table:

Stage	Milestone	What you get	Amount payable
0.	Specify property	Reservation fee for a house or apartment.	€ 2,000
1.	Land transfer, sign contract	Exclusive land-rights, entered in the Land Registry by the court. For apartments, the land-rights are shared with one neighbour.	30%
2.	Roof completed	Building structure with roof. (Ceiling for ground floor apartment).	30%
3.	Raw construction	Building completed with internal walls, electricity & plumbing.	20%
4.	Finishing	Decorating (tiling, painting, flooring) according to personal choice.	10%
5.	External	Façade. Landscaped garden, paths, connection to estate of electricity / TV internet / water /waste.	10%
6.	Furnishing	Fitted kitchen, appliances, wood stove, electrical goods, jacuzzi.	Optional

Purchasers do not have to commit to the "Finishing" and "Furnishing" stages until the Show-house is completed. This allows the purchaser to inspect the quality and style, and make selections based on personal preference.

Shared ownership is possible. For example a single house may be purchased by two people, with one person owning the ground floor apartment, and the other owning the first floor apartment.