Riviera Park is a modern building, built in the park environment, only 300 meters from the golden sand  of  Holiday Club Riviera. The complex offers peace and comfort. Beautiful scenery and proximity to the beach contribute to the romantic mood and relaxing atmosphere.

Distribution: entrance hall, living room with kitchen box, two bedrooms, bathroom with WC, one balcony.

Standard of finish:

Living room:
- Walls - plasterboard, painted with beige latex;
- Flooring -  granite laminate produced in Turkey:
- Air conditioning - 1 number, produced in Hungary;
Bedroom:
-Walls - plasterboard "RIGIPS", painted with beige latex;
- Floor - laminate;
Terrace:
- Granite tiles resistant of external conditions, produced in Turkey;
railings;
- Doors:
- Door and interior doors - MDF or laminate;
Sanitary facility:
Flooring terracotta, produced in  Turkey;
- Walls-faience produced in Turkey;
- Ceiling - plasterboard hung from the water with lamp;
- Shower cabin production Turkey;
- Shower-battery manufacturer "Ideal Vidima";
- Toilet monoblock with producer "Ideal Vidima";
- Sink, battery - manufacturer "Ideal Vidima";
- Boiler - 1  Bulgarian production;

PVC joinery

Water and sewerage systems:
- water: polypropylene;
- sewerage: PVC;
- individual water meter for each dwelling;

El.instalation
-wiring project, according to Bulgraian Standard
- swithches and wall plugs
- Lighting of common areas and surrounding area;
- Individual electrometer for each dwelling;
- Individual electric boiler for each apartment;
- telephone, doorbell system, cable TV installation;

Accents

•      Sea view
•      Park environment
•      Elite resort
•      Investment Potential
•      Apartments suitable for permanent living

All units are for sale with no commission for the buyer!

The agency charges EUR 480 for attendance at the transaction

Construction type: reinforced concrete structure with brickwork

Year of construction: 2008 Year

Bathrooms: 1

Balconies: 1

Joinery: PVC

• Permission for use granted
• New development
• Fully finished

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.