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The part of the shared building space is not a part of the apartments area
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The area shown in the apartments’ advertisements must be the same as in the Notary act. But the inventive Bulgarians have found many ways to increase the area when selling the property. And it is not only a common practice of the property owners, but also |
The most simple way is the deception. And indeed it is hard to estimate the area of the property by eye. It is strange, but this kind of deception is used even for small sized apartments – the owners are declaring area with some 10 sq m above.
The most innocent way to increase the property area in the ad is to include the area of the glazed balcony. As a matter of fact such balconies are really included in the property area, but this way they are added to the whole area again. But yet it is true that the glazing of the balcony raises the price of the property.
Another trick is when in the area of the property advertisement is included the area of the basement or the attic.
In the new developments the trick with the property area is with the shared premises. From the developer’s point of view it is a logical point to include these building parts to the apartments’ area, as the resources for building the stairs and the corridors are significant. It is true, but the practice is that the funds for the facilities, as for the roof and the elevators, are summed and divided, and they are included in the price of the sq m of the apartment.
In the Notary act of every property, no matter newly built or second hand, there are several numbers. The first one is the true area of the apartment, the next shows the percentage of the shared premises, which are set to this apartment. There follow the basement and the attic, and their area.
It is good to know that this percentage of the shared premises of the building is not a concrete area, which one can define, wall in or use. Without these shared area and facilities the building could not exist and the owner buys the percentage of them, but they remain to all the apartment owners in the building.
Bulgarian buyers are well-aware of these tricks and they are used to be careful, but for the foreigners this causes great indignation. In the end the effect is the same – the buyer lost the trust in the property seller.
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29-06-2006 |
COASTAL CONSTRUCTION
Representatives of the Regional Development Ministry would discuss on Friday Bulgaria’s coastal construction problems. The regional governors of Varna and Bourgas would also take part in the talks, mediapool.bg reported.
[Read more]
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26-05-2006 |
The part of the shared building space is not a part of the apartments area
The area shown in the apartments’ advertisements must be the same as in the Notary act. But the inventive Bulgarians have found many ways to increase the area when selling the property. And it is not only a common practice of the property owners, but also
[Read more]
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18-05-2006 |
YAMBOL CHAMBER OF COMMERCE AND INDUSTRY
The Yambol Chamber of Commerce and Industry as an independent, private-law organization of the business circles from Yambol region has always targeted its aims and purposes at assisting, promoting, representing and protecting the economic interests of the
[Read more]
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23-10-2005 |
Financing a property purchase in Bulgaria
Bulgaria is a relatively new opportunity for property purchasing and as such the number of finance options are still very limited. This article will briefly explain your options and make you aware of a couple of areas where you should be vigilant.
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18-08-2005 |
Bulgaria Looms as the Next Real-Estate Hotspot: Matthew Lynn
A villa overlooking the Black Sea? Or a flat in the Bulgarian capital, Sofia? If you happened to be vacationing in the area this year, you might have noticed just how temptingly cheap all those properties for sale are.
[Read more]
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