Buying an apartment on the green can save you tens of thousands of euros – or become an expensive lesson. The difference is in the preparation. Below you will see the real benefits, hidden risks and three checks that are mandatory before you sign.
What does „apartment on green“ mean?
A green apartment is a home that you buy before the building is completed – sometimes even with a building permit issued. You pay in installments tied to the construction stages, and the price is usually lower than that of a finished property. Ownership is transferred by deed, most often after Act 15 or Act 16.
Why do buyers choose a greenfield property?
- Better price. At an early stage, prices are often about 10–15% below those of a new construction completed in a similar location.
- Full choice. You buy first and choose a floor, exposure and layout, while the best homes are available.
- Deferred payment. Contributions follow construction stages and facilitate budget and mortgage planning.
How to reduce risk: 3 mandatory checks
- Check the builder. Look for the company in The central professional register of the builder and look at at least one of hers on the spot completed building.
- Tie payments to stages. Negotiate contributions against Act 14 (rough construction), Act 15 (completed building) and Act 16 (permission to use), not against the promised „of words“. The advance on the preliminary contract rarely exceeds 10–20% of the price.
- Give the contract to a lawyer. Look for clear deadlines for completion, late penalties and the right to cancel the deal if the builder defaults.
Frequently asked questions
What is Act 16?
Act 16 is the popular name for the use permit – the final document certifying that the building is complete and habitable. Only after it you can legally live in the property and make an address registration. Therefore, the last installment is usually tied to it.
Is it more profitable to buy green?
Usually yes. The earlier the stage, the lower the price because you take a wait and some risk. The difference to a completed property is often around 10–15%, but depends on the neighborhood, builder and demand. Always compare price per square meter with the same degree of completion.
Can I inspect the apartment before paying?
At an early stage you look at the architectural plans, the 3 D visualizations and samples of the finishing works, and at the site – the construction itself. Also request a view of a completed building of the same investor. This is how you compare what was promised with what was actually built. The serious builder will show you everything without hesitation.
The next step to your new home
The apartment on green is a sure purchase when the builder is proven and the contract – clear. Explore buildings under construction at the Global Build in Sofia and se contact our team on +359 878 730 730 or sales@globalbuild.bg for viewing and personal consultation.