Bulgarian Real Estate Practices

Bulgarian Real Estate Procedures

There are quite a few fairly small differences in the way real estate is conducted in Bulgaria. I will just focus on a few things every foreign broker or buyer should know.

Agency: The brokers in Bulgaria normally charge the buyers the commission. They represent both parties in the transaction. Sometimes they have exclusive listings sometimes they don’t. Occasionally a broker will be hired just to advertise and market a property without being hired to list or sell the property.

The brokers do all of the title work and prepare all of the documents for the transaction. No lawyer is required; but many of the real estate offices have their own lawyers or are owned by lawyers.

I may be incorrect on this next point. If any Bulgarian practitioners are reading, I would really appreciate comments. Foreigners may own the land and the improvements in the name of an artificial entity. They may only own the improvements in their own name. A Bulgarian may own the land and the improvements in their own name. It is a common practice here to buy the right to build on a piece of land without buying the land.


David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com

What I learned from my Bulgarian Students

What I Learned from my Bulgarian Students

I asked the same thing in Bulgaria that I asked in Korea. “What are 5 things you want the world to know about your country.” The Korean class president was supposed to send me an email with the summary. He didn’t. This time I did the writing myself. This question elicited a response that lasted about an hour. We boiled it down into four statements.

An ancient history going back to the time of the Thracians has resulted in a rich culture featuring unique foods, wines, folk music and dancing. (More about Bulgarian food at http://davesdailygarden.blogspot.com/ )

The high educational level, friendliness and harmonious co-habitation of different ethnic and religious groups makes Bulgaria an attractive place to live.

From the mountains to the sea we enjoy a nice climate, hot mineral springs, 4 seasons and many recreational opportunities.

Steady 6% GDP growth, low unemployment , relatively low wages, the 2nd lowest real estate prices and the highest growth rate in real estate prices in the EU make Bulgaria an ideal investment target.

I hope to furnish links soon that will tie you to Bulgarian brokers and information sites.


David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com

Bargain Vacation in Europe?

Bargain Vacation in Europe?
That may sound impossible. It is not. Try the Golden Sands Resort in Varna, Bulgaria. You can get an ocean view room for 20 Euros per night. The room is quite nice. The breakfast is to die for. The beach is absolutely beautiful. The restaurants on the beach and in the town are economical. There are a lot of local attractions all around.
The combination of mountain and beach goes together well. When you visit eastern Europe you are going someplace that is different from any place you have ever been. Better hurry though. It will not last. Bulgaria is a country where history stopped for 40 years; but they are catching up fast. There are craft fairs and traditional dancers that dance on fire. The items in the craft fairs are things that you will never see elsewhere.
The only real problem is getting there. The cheapest fare from Charlotte that I have found was about $2500. If you stay a week it is still the cheapest vacation in Europe. Enjoy.


David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com