Plot of land with investment project for a hotel complex in the village of Jeravna!

The village of Jeravna is situated in the east part of the Balkan range and stands at 640 meters altitude. It is located in the recesses of a picturesque valley with magnificient greenery. Its population is about 500 people and it is 14 km south of Kotel, 190 km southwest of Varna, and 330 km east of Sofia.

Jeravna is an attractive tourist destination with its nature, architecture and age- old history. It keeps many wooden houses with identical construction. Some of them are over 300 years old. The houses have been preserved up to the present day in a way that retains their original face from the period of the Bulgarian revival. That`s why the village was declared a National Architectural Reserve.

One of the most interesting houses is a birthplace of the famous Bulgarian writer Yordan Yovkov. There is a museum exposition of the writer`s most significant photographs, documents, manuscript.

Another impressive house is Sava Filaretov`s one; the house features elegant woodcarvings. The interior decoration is preserved as of the time of the Bulgarian revival so to be visualized the manner of life in this period.

Rusi Churbajie`s house- muzeum, belonging to one of the richest people, is situated in the centre of the village. It was built up around 300 years ago and each room has fixed functions- a parlour, a living - room, a study, etc.

"St. Nicholay" church, with its unique woodcarvings and ancient icons is another interesting place for a visit.

The climate is mild and the area around Jeravna is picturesque. An artificial lake of the same name offers exellent conditions for fishing. 80 of the houses are accommodated to tourist needs.

The property is located to the East of Jeravna just before the entrance of the village.  The terrain is situated on a South slope above the level of the road.

According to the project plan the complex offers three separate buildings, separately situated  and namely hotel, pub and self-contained villa. There is a small outdoor swimming pool.

The 3 star hotel has two floors and features 12 double hotel rooms and four apartments, one staff office on each floor, reception, playing room and boiler room.

The 48 seat pub offers entrance hall with sanitary units for men and women, service office, kitchen, storage room, refrigerators, changing rooms for staff needs, WC and shower, also. There is an outdoor area for about 20 people. A summer house infront of the pub.

The villa offersa two floors. Firts floor - living room with kitchen box and a dining area, WC. Second floor - three bedrooms, bathroom and separate WC. All bedrooms have terraces.

All of the buildings are remarkable for their traditional style.

Spread Covered Area 1 127 sq.m, as follows:

• Hotel - 786 sq.m;
• Pub - 258 sq.m;
• Villa - 183 sq.m

The price includes all needed documents for the start of the constructional works!

Why you trust us...

When organizing your trip to Bulgaria to view or purchase property it is very important that your trip is free from any troubles so you can focus on the main reason for your trip - to choose the right property. We, at  Mirela Real Estate agency will be more than happy to organize your viewing trip to Bulgaria.

Before you come to Bulgaria we can organize or recommend a number of hotels providing accommodation.

On arrival you will be greeted by a friendly and highly trained representative.

Afterwards we will arrange for you the viewing of properties you may be interested in at any time convenient to you. At that time you will be accompanied by an experienced and qualified employee of ours to provide consultancy, interpretation and assistance when required.

Mortgage Loan possibilities...

You can rely on a Mortgage Loan from a Bulgarian bank that will finance your purchase, even if your income originates from another country. Mirela Real Estate agency has a partnership with leading Bulgarian Banks based on a licensed contract, by the force of which we represent them, a sign of respect and trust. Our credit specialists offer consulting services to our foreign clients and this service is free.

Here are the main characteristics of a standard mortgage loan in Bulgaria are, as stated by two of the leading banks in the country - United Bulgarian Band and First Investment Bank.

UBB - United Bulgarian Bank

The client segments are the citizens of the European Union, USA and Canada. The minimum amount of the credit is Eur 7500, the maximum is Eur 250 000 for a period of up to 20 years. A person must be at least 23 years old to be considered eligible and the age plus the loan period shouldn't exceed 65 years. For the first year the interest rate is 1.5% or 5.9% for the first 3 years. There is a standard interest rate for the rest of the loan period which is 6.5%. The bank has an application fee of BGN 20 and an administration fee of 0.5%. The prepayment fee is 5%.

First Investment bank

Every able local or foreign citizen is considered an eligible borrower. However, if the acquired property is a plot, a local citizen should acquire a property. There are no limits concerning the maximum loan amount. The maximum term is 240 months with a loan purpose - acquisition of a real estate.

There is an option of a period when the borrower pays only interest which may be up to 12, 24 or 36 months. After it equal monthly installments during the loan term are paid. In case of overdue payments the bank charges a penalty interest rate. The application fee is Eur 50 and the management fee is 2%. You can read more on the fees and charges on their website. The applicant's income should be 1.50 times the monthly installments. The minimum income that should remain per member of the household is 500 Eur for adults and 250 Eur for children.

The term for approving the application is usually up to 2 days.

Finishing and furnishing...

For owners of properties in Bulgaria, interested in renting their premises or for those who want to feel their property like a real home we can take up organization and control or full completion of construction or repair works. Mirela Real Estate Agency is in partnership with companies that offer complete line of furnishing services including ready set furniture packages that meet the requirements of the rental management companies. If you prefer our partners can help you design an ideal interior to suit your taste and style, and completely furnish the property  so that  everything is ready for you.

• Planning permission granted
• Electricity
• Pipings
• Sewerage
• Planning permission
• For residential buildings

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.