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What Your Real Estate Agency in Sofia Bulgaria Should Provide

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    This luxuries apartment for sale in Boyana Sofia is located at the foot of  Vitosha Mountain, the residential building combines modern architectural lines, functionality...

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    • Bathrooms2
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    • from 93 m2 to 156 m2
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    • DistrictBoyana
    • TypeApartments
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    8 months ago
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    Sofia,

    €248000

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Our Real Estate Agency Sofia Bulgaria business is to arrange the selling or renting of houses, land, offices, or buildings for their owners.

We are deeply knowledgeable about the local laws on the buying and selling of property in Sofia. We concentrate on properties in the best southern part of Sofia as we are experts in this area and do not waste our time travelling all day for little or no result.

We understand the trends in the Sofia local property market, as well as what are competitive prices are for the different types of properties in the various districts Sofia.

Built up over the last 15 years, Luxury Property are staffed by real estate agents who have the skill and expertise to market the property and sell for the best possible price and conditions, or to search for property that suits a client’s needs and buy it at the best price possible with the most favourable terms.

Negotiation is a key skill of our work, as we act as the intermediary between buyer and seller and will negotiate on our client’s behalf.

We have a team of enterprising individuals who are assertive, energetic, enthusiastic, confident, optimistic and persuasive.

Tasks That We Perform Every Day

Every day we perform the following administrative tasks that are at the core of our well-run real estate business in Sofia:

  • We keep up with real estate market activity and industry news in Sofia
  • We research active, pending, and sold real estate listings in Sofia
  • We compile, submit, and file paperwork, such as real estate contracts with the proper state agencies in Sofia
  • We plan and coordinate appointments, open houses, showings, and meetings with clients and other real estate agents in Sofia
  • We develop marketing plans for listings and creates fliers, newsletters, and other promotional collateral for new real estate listings in Sofia
  • We quickly respond to incoming emails, text messages and phone calls
  • We update our website, Facebook and Instagram social media, and blog
  • We advertise our properties in Bulgaria, Europe and north America

What Makes Luxury Property Different to Other Real Estate Agencies in Sofia?

There are many real estate agents in Sofia, but what makes Luxury Property stand out:

  • We are experts in Digital Marketing so that your property can have the widest possible reach
  • We respond to all calls, emails, and messages immediately and there will always be someone in the office
  • We provide a single point of contact to all sellers, landlords, buyers, and renters
  • We speak Bulgarian, English, Italian Spanish and Russian so there are excellent communications and no expensive mistakes
  • We specialise in the luxury property market in Sofia
  • We conduct extensive networking at local and international events in Sofia
  • We know how to effectively and quickly close deals
  • We attend industry conferences and seminars to keep up to date with the real estate market

Why Choose Luxury Property to Sell or Rent your Property in Sofia?

Whether it is a new development or an existing building, we insist on meeting the owners so that we can develop a relationship. Luxury Property will:

  • At the first meeting get to understand the need of seller and the new property listing in Sofia
  • Demonstrate our market knowledge, marketing abilities, and negotiation skills
  • Research the current market activity and comparable properties to establish an asking price
  • Take photos and videos of the property, inside and out, to prepare a listing presentation and advertising collateral
  • Market the property online on our website, social media and real estate property listing sites
  • Stage the home properly so it shows well and conduct open houses

How Luxury Property Works with Buyers

Without buyers your property will always remain on the market. However, especially after Covid-19, it is not always to meet the buyers in person, so we have invested in the latest video technology so that we can effectively market your property for sale in Sofia worldwide.

  • Meet with, in person or online, interview, understand, and qualify prospective buyers
  • Advise them on the area, market conditions, and educate if properties are priced correctly or not.
  • Research the property market in Sofia for potential properties that fit the needs of the buyer
  • Plan property showings for buyers and set up appointments that fit in with their schedule.
  • Show selected properties to buyers and communicate any details of the property we have learned during our research or while talking to other agents
  • Negotiate with both parties to ensure a successful real estate transaction in Sofia
  • Help the buyers to secure a mortgage
  • Coordinate the transaction process on the buyer side
  • Schedule appraisals, inspections, and other activities related to the transaction
  • Deliver and explain all documents, title insurance, deeds, etc.
  • Work with the buyer through the closing and getting their keys

Networking with other Real Estate Agents in Sofia

We realise that we do have every real estate property for sale in Sofia on our database (and neither do we want to), so we understand that networking with other real estate agents in Sofia will help find you the best real estate investment in Sofia.

Having worked in real estate marketing in Sofia for the last 15 years we have developed a first-class network of contacts to reach out to when looking for buyers and sellers of real estate in Sofia, Bulgaria.

Our Ethical Approach to Real Estate Agency Sofia Bulgaria

We promise to abide by the following duties as a Real Estate Agency Sofia Bulgaria:

  • We will promote our clients’ interests before our own and treat all parties involved honestly
  • We will avoid exaggerating, misrepresenting, or withholding facts about the property or transaction
  • We will cooperate with other brokers when it is in our client’s best interests
  • We will avoid providing professional services regarding a property they have an interest in, unless it is disclosed to the client
  • We will receive the client’s consent and knowledge before accepting any form of payment or commission
  • We will disclose to all parties and receive consent from our client if a payment is to be received from more than one party involved in a transaction
  • We will keep personal funds and clients’ funds separated
  • We will ensure that all agreements are clearly and understandably communicated between all parties involved in the transaction, and that each party receives a copy of each agreement.
  • We will refrain from discriminating against any person based on race, colour, religion, sex, handicap, national origin, sexual orientation, or gender identity
  • We will be truthful in our advertising and marketing materials
  • We will not make false or misleading statements about other real estate professionals
  • We will not interfere in another realtor’s contractual relationships
  • We will handle disputes with other realtors through arbitration instead of litigation

Real Estate Investment Sofia

With bank deposit interest rates at an all time low and, in some cases, costing you money to save, an alternative solution is required just for your savings to keep their current value against the cost of inflation.

While no-one is expecting a sudden growth in the real estate market in Sofia in 2020, Bulgaria still has the lowest real estate prices in the whole of the European Union. This can only mean one thing. As the standard of living increases in Bulgaria, the cost of property in Sofia will rise again, at a higher rate than inflation.

Indeed, the European Union has recently given Bulgaria a ‘clean bill of health’ economic status for its performance against Covid-19 and the strength of the economy.

Our real estate agents in Sofia, Bulgaria are in contact with many of the leading developers and have a realistic mindset on where the likely areas of increased property values in Sofia. These areas are likely to be where there are

  • Improved transport communications
  • Government incentives to improve a particular district such as near the main railway station

Properties with a high-energy rating and extra community facilities, especially outdoors, are also be more like to attract a premium.

So, it is important to look at the future and the whole picture for your real estate property investment.

Information About Sofia And The Rest Of Bulgaria

Sofia is the capital of Bulgaria and its largest city, making it an extremely attractive to purchase real estate whether it is an apartment, house, villa, office, or a plot of land.

There are also many towns and villages near Sofia which attract Bulgarian and foreign investors.  The areas around Sofia have lower prices and it is possible to buy land to build large houses or for industrial purposes. Outside Sofia there is wonderful nature and it is easy to travel into the capital city of Bulgaria for work and leisure using the modern road connections.

Sofia is currently home to 1.5 million residents and the government suggests that it has the capacity to expand to 2.5 million as the economy grows in Bulgaria. The price of property in Bulgaria is the lowest of all the member states of the European Union, so offers great investment potential.

Sofia is the 15th largest city in Europe. The city has many fine universities and many top international firms are setting up support and IT services in Sofia to take advantage of the high-quality talent available.

The total population of Bulgaria is around seven million people, with 45% of the residents aged between 25 and 55. Many Bulgarians, schooled during the Communist era, do not speak English (but do speak Russian) while the younger generation  are mostly good at English and other major European languages such as French, German, Italian and Spanish.

The climate in Bulgaria varies significantly from summer to winter. In Sofia annual temperatures can vary from +40 to -20 degrees centigrade. This offers a great potential for both sea and ski tourism and an increasing number of British, US and Italian citizens are attracted by the investment opportunities and high standard of living compared to the cost.

The strategic location of Bulgaria, with its land connection to Turkey, will result in consistent growth especially with the other Balkan states joining the EU.

The Bulgarian culture and history are extremely varied with the country passing through Roman, Thracian, Turkish, Russian and German hands before its independence and unification. This leads to many opportunities to visit these historic places and vastly improve your knowledge of European culture and history.

Bulgaria is also the 10th largest producer of grapes in Europe and is now starting to produce some very high-quality wines at extremely affordable prices

Real Estate Agent Sofia Bulgaria

As a professional real estate agent Sofia Bulgaria, Luxury Property, we only deal with luxury whether it is a house, villa, or apartment. Some of the factors that define if a property is luxury include:

  • The property location
  • Historical or architectural significance of the building,
  • The size of the building
  • A secure gated community
  • The facilities of the property which might include swimming pool bar, home theatre, or gym
  • The views from the property to the city or to the mountains or the sea
  • Proximity to parks, good schools, or travel infrastructure

All these factors determine the price of a property in Sofia. Only deal with a professional real estate agent Sofia Bulgaria.

Use On-line technology in Sofia Property Investment

The development of on-line technologies has led to a completely new relationship between real estate buyers and sellers in Sofia.

Buyers are now much better informed than before because they can make a lot of research prior to visiting the property.

At Luxury Property, we will make an accurate description of the property for sale, taking the property particulars from the seller and adding our own insight into the location and the services nearby.

If you do not wish for your property to be listed on our website or directly marketed, then we have  ‘secret listings’ that we can pass you with vetted clients.

We understand the ramifications that Covid-19 has had upon property investors outside of Bulgaria, and we will use the latest video and 3-D photography technology to give the prospective overseas property investor in Sofia a clear understanding of the property exterior and interior.

We will act as your local property consultants to find the property that fits your exact requirements and liaise with your friends and family in Sofia so that you can have extra trusted eyes on the ground.

If you are not in Sofia, you need someone to be your consultants and advisors. Unlike many real estate agents in Sofia, Luxury Property will take a completely transparent approach.

We are specialists in helping foreign buyers and investors, whether you are looking to purchase, rent or invest in property in Sofia.

We will inform both the buyer and the seller the amount of commission that we are charging directly from the outset of the real estate transaction in Sofia

If you chose to use our personal consultation service, then we will offer preferential commissions for buyers and tenants who use our Personal Consultant service

We will be providing you with introductions to banks, lawyers and insurance companies as well as managing your property should you wish to rent it out.

If you are living overseas and wish to sell your property, then we will provide:

  • Photo and video shooting,
  • Professional valuation of the property
  • Comprehensive marketing in Bulgaria and overseas

Choosing A Real Estate Agent In Sofia Bulgaria

You know that you need to find a good real estate agent in Sofia to sell, buy, lease or rent a property, but if you do not have any personal recommendations what do you look for? Your real estate agent in Sofia should:

  • Be well-informed, polite and smartly dressed
  • Be able to communicate with you clearly in your language
  • Be available at the times you want to talk with them (including overseas clients outside of Europe)
  • Have a website that provides full information
  • Have a physical office in Sofia for you to visit (avoid meeting in cafes and bars)
  • Offer a single point of contact
  • No have a telephone routing machine that takes you round in circles

Where to Live in Sofia?

Foreigners who come to live in Sofia either tend to live near the centre of Sofia, so that they can easily mix with other Expats, a location close to their place of work or, if they have children, in the foothills of Vitosha mountain in upscale districts such as Boyana or Simeonova.

The highest prices in Sofia are generally to be found in the southern and southwestern parts of the city, which are regarded as the best places to live in Sofia. Each neighbourhood has an average price, but individual property prices will vary dramatically depending on the standard of the building

Doctor’s Gardens is situated just outside of Sofia city centre. It is possible to walk to most places in the centre from Doctor’s Gardens, but it also has a Metro station, St. Kliment Ohridski, for easy connection with the rest of the Sofia.

Doctor’s Garden has mostly old aristocratic old apartments, a refurbished park, and many diplomatic residences, and is the most expensive place to buy property in Sofia. A recent new development near the TV Centre was offering apartments at 5,000 m2 !

Property in the main centre of Sofia is cheaper as there is:

  • A lot of traffic
  • Parking is exceedingly difficult unless you have a garage
  • Many buildings do not have elevators
  • Less green space

Many people choose to live in the southern part of Sofia, between the centre and the foothills of Vitosha mountain. Districts that fall into this category include Lozenets, Manastirski Livadi and Vitosha. These areas of Sofia offer:

  • Lower prices than Doctors Gardens
  • Excellent road and Metro communications
  • Lots of green spaces in Hunters and South Parks
  • Great shopping
  • Good schools
  • Many new, modern buildings with excellent facilities and better energy saving

If you are looking for the best investment opportunities in Sofia, then these are to be found in the northern part of the city. Spacious, Viennese-style apartments near the Central Station have fallen into disrepair but offer great investment potential as this area is transformed into the new place to live in Sofia.

The Sofia Municipality is creating a redevelopment plan for the northern part of Sofia if you are looking to invest there.

Property Management Services Sofia Bulgaria

Luxury Property is property manager in Sofia, Bulgaria offering full property management services and we can support you depending on your property management requirements.

Our property management service in Sofia, Bulgaria includes the following:

  • Acting as the first point of contact for tenants, building workers and maintenance contracts
  • Maintaining professional relationships accountants, insurance agents and lawyers
  • Advertising, marketing, showing available space and leasing the property
  • Interior and exterior maintenance– whether it be the actual upkeep or coordinating contracts for needed work and services
  • Collecting rent and fees from tenants; coordinating contracts, issuing purchase orders, paying invoices, purchasing supplies, and general accounting and banking needs
  • Helping create, maintain and follow a budget for both short term and long term goals
  • Administrative tasks like reporting and record retention which might include income statements, annual reports, rent roll, occupancy reports, historical records and file backups of online systems.

Our property management services provide all the needed functions to run a property or real estate portfolio without involving you the owner. This allows you to completely hand over the responsibilities of owning a rental property, while still maintaining the financial benefits of the investment.

Relocation Services Bulgaria

Luxury Property provides relocation services, home rental search, property buying, private and state school finding and lifestyle management in Sofia, Bulgaria.

We work with businesses of all shapes and sizes, from all industry sectors, to help them successfully relocate their employees and their families in Sofia, Bulgaria. By designing a relocation programme that fits the individual needs of your company, your employees, and their families.

As a private or corporate relocation client moving to Sofia, Bulgaria we can assist you with your home and school or pet searches, arrange your utility services, ensuring a one-stop, stress-free relocation package.

Our aim is to maximise budgets and reduce relocation disruption while always maintaining a constant emphasis on attention to detail and client satisfaction.

We also provide a personal concierge including attending events, gift purchases, holidays experience packages and cultural and language training.

Mortgage Introduction Bulgaria

We, at Luxury Property, want your property purchase in Sofia to close smoothly, and one of the biggest factors involved with buying a home is the arranging of credit.

We are available as one of your options to arrange a mortgage in Sofia. Should you have your own mortgage lender or if you want to use the developer’s mortgage provider, then you will not come under any pressure from us to speak with our contacts.

We have established preferred relationships with several of the major banks and mortgage brokers in Bulgaria. These lenders are flexible and will consider your position as an individual and not just hand you off to the mortgage department where your documents will go into the processing pile with hundreds of other mortgage applicants.

You will have a single point of contact that will deal with your mortgage application in Sofia who will be able to keep you up to date with your case.

It will be a good idea to determine how much credit that you have available before setting out on your house hunting venture so that you do not waste your, the sellers or the respective real estate agents time.

In the interests of full disclosure, Luxury Property may receive a small commission from the provider of the home loan in Sofia.

Home Insurance Bulgaria

Luxury Property are happy to provide information and consultancy for your new home insurance in Bulgaria.

Home insurance of immovable or movable property includes commercial as well as residential buildings but also commercial buildings. Also included is coverage for fences, swimming pools, furniture, appliances, and electronic devices

The insurance coverage includes, but not limited to, loss and damage resulting from:

  • Fire and explosions
  • Acts of God such as lightning, storms and snow
  • Vehicles and aircraft
  • Flooding
  • Landslide
  • Earthquakes (especially important in Sofia)
  • Robbery and vandalism
  • Clearing of debris
  • Electrical short circuits
  • Cost of accommodation if the home became uninhabitable

The insurance premium depends on:

  • The type of the property insured
  • The insurance price
  • The insurance coverage
  • Specific risk factors

There will be options to pay the insurance premium in monthly, semi-annual, or annual instalment, and the insurance can be taken out for indefinite period and can be cancelled at any time.

Home insurance is not compulsory in Bulgaria; however, it is likely to be requested if you have out taken out a mortgage.

If you are buying an apartment it is important to check what type of insurance is covered by the maintenance contract.

Insurance Claims in Bulgaria

When claiming against contents insurance you should produce the original bills if possible and

you must usually inform your insurance company in writing within two to five days of the incident (depending on the insurance company) or within 24 hours in the case of theft which also should be reported to the local police.

Right Type Of Insurance

Luxury Property will help you choose the right type of insurance for your new home in Sofia and be available for help should you ever need to make an insurance claim in Sofia.

Finishing A Property in Sofia

Unfortunately, as this article about property finishing in Sofia fully explains, buying a new build property in Sofia does not mean that you just must buy or move your furniture so that you can live there.

This allows the purchaser to design the apartment any way that they wish.

Your new home will need:

  • Bathroom tiles, showers, toilets, vanity units, etc
  • Complete kitchen including appliances
  • Flooring throughout with wood or granite
  • Walls plastered and painted
  • Electric sockets and lighting
  • Air condition and heating
  • Inside doors (depending on the builder)

The list is endless.

And it could be that there is not yet even a working elevator, so you have at arrange the transportation upstairs.

Kitchen and Bathroom Design Sofia

It is not just as simple as visiting your local kitchen or bathroom store and purchasing the items. You must first design the kitchen and bathroom to fit into the space and locations designed for it.

Unfortunately, most of the stores in Sofia are not filled with perfect English speakers so you will probably need some help in the design process.

It is quite likely that you will buy the kitchen from a different place to the tiles and the appliances, so the whole design must be coordinated between many people.

Installing the Finished Items Property Sofia

If you think that purchasing the items were a challenge, then getting them installed will be a new episode in your life.

The coordination of the delivery and installation amongst many suppliers and installation teams will take a lot of time and effort to manage the whole process.

Luxury Property offer a complete service to introduce you to the best stores, designers, and manufacturers, as well as manage and fit out the installation

We have more than 15 years’ experience in finishing apartments and houses in Sofia and our team are trustworthy with a sense of responsibility.

Real Estate Lawyer Sofia Bulgaria

When you are looking for a real estate lawyer in Sofia, Bulgaria you must find one that offers the full range of services to foreign and local clients for many years.

Luxury Property has been making property transactions in Sofia since 2004 and has formed relationships with a few select lawyers that we have come to trust and have never let up down.

 These lawyers will provide honest, professional legal advice and support in the preparation of documents related to real estate transactions including:

  • Negotiation and representation
  • Investigation of ownership
  • Legal regime and possible burdens on real estates (due diligence)
  • Tax planning regarding property acquisition
  • Assistance in process of changing the status of real estate
  • Creating preliminary sale agreements and final contracts for purchase and sale of properties
  • Preparation of notary deeds for property acquisition
  • Registration of the acquired property for tax and statistical purposes
  • Advise on the leasing of offices
  • Drafting property lawyer statements and advice on specific issues in relation to property investments and development
  • Representation before governmental and municipal bodies, legal entities and individuals during property investments, management, and sale-purchase
  • Company set up in Bulgaria, drafting company’s documents, representation before Company register
  • Execution of Title Deeds before Notary, Power of Attorneys, preparation of civil status declarations
  • Drafting property rental contracts

These lawyers have been advising private investors in the purchasing of buildings, houses and apartments in Sofia for many years.

Property Investment Sofia

With bank deposit interest rates at an all time low and, in some cases, costing you money to save, an alternative solution is required just for your savings to keep their current value against the cost of inflation.

While no-one is expecting a sudden growth in the real estate market in Sofia in 2020, Bulgaria still has the lowest real estate prices in the whole of the European Union. This can only mean one thing. As the standard of living increases in Bulgaria, the cost of property investment in Sofia will rise again, at a higher rate than inflation.

Indeed, the European Union has recently given Bulgaria a ‘clean bill of health’ economic status for its performance against Covid-19 and the strength of the economy.

Our real estate agents in Sofia, Bulgaria are in contact with many of the leading developers and have a realistic mindset on where the likely areas of increased property values in Sofia. These areas are likely to be where there are

  • Improved transport communications
  • Government incentives to improve a particular district such as near the main railway station

Properties with a high-energy rating and extra community facilities, especially outdoors, are also be more like to attract a premium.

So, it is important to look at the future and the whole picture for your real estate property investment.

Looking for an Energy Efficient Home for Sale in Sofia?

 It is important to engage with a real estate agent who understands the market value and the features of genuine sustainable energy efficient homes.

Luxury Property are a real estate agency in Sofia that understands what is involved in building an energy efficient, sustainable home and can help you identify whether or not the home you are considering has the appropriate characteristics to be an energy efficient home.

We can also help you identify banks and lenders who understand the value of a truly sustainable home.

Some Energy Efficient Questions to Ask Your Real Estate Agency in Sofia Bulgaria

    • What is an energy efficient home?
    • What are the benefits of an energy efficient home to me and my family?
    • How will owning an energy efficient home affect the resale value when it’s time to sell?
    • What are the costs of an energy efficient home compared to a similar home which is not energy efficient?
    • Which green features in a home are cost effective and which are not?
    • How can the additional costs be wrapped into my mortgage and how will the added monthly costs compare to the monthly savings on my energy bill?
    • Which banks are supportive of energy efficient homes?
    • What types and amounts of insulation have or will be used in the home in the walls, ceilings, and floors in the building?
    • Is the roof pitch, orientation, and size optimal for solar photovoltaic panels and solar panels?

Buyer Commission Free Real Estate Transactions Sofia Bulgaria

At Luxury Property, we are adopting a buyer commission model that is used in most of the world rather than the one used in Bulgaria where the buyer is expected to pay a commission as well as the seller.

If Luxury Property are receiving a commission from the seller of the property in Sofia, Bulgaria then we will not charge the buyer a commission.

If we are acting as a property consultant then there may be a pre-agreed fee for our services, but it will not be charged on the closing of the deal.

Luxury Property Buyer Agent Services include:

  • Market Knowledge: 15 years’ experience of buying and selling properties in Sofia
  • Efficiency: We will save you time as we will introduce you to properties that specifically meet your needs
  • Viewings: When you select listings that you are interested in, we will coordinate with the seller to make the viewing
  • Present the offer: We will advise you in a competitive bid situation.
  • Efficient negotiation: We will recommend ways to increase your chances in competitive bid situations and set expectations when they think odds are not in your favour.
  • Closing Knowledge: We will explain exactly what you must do
  • Advocate: We work in your best interests as without a buyer there will be no deal
  • Ongoing support: If you have any questions after the sale is complete then just let us know

What Does a Real Estate Agent Do? - 14 minutes