Attractions Bulgaria

Archive for the ‘Real Estate’ Category

During the second quarter of 2009, newly built apartment blocks across Bulgaria increased by 24.1% according to data from the National Statistics Institute.

Reports showed that the number of new apartments had soared by a whopping 30.2% on an annual basis, whilst the growth shown by completed accounts for new buildings grew by 6.9%.  In just May to July almost 700 properties were built, encompassing almost 7000 apartments. Just in that timescale we saw an increase of over 50% in new apartments across Bulgaria.

Varna was top of the pops with the most new buildings being completed, closely followed by Bourges, and then Sofia. However, the same report showed that no new construction took place in Razgrad, Montana or Haskovo during those months.

This is a healthy trend, and one that we wish to see continuing. Long may Bulgaria fly in the face of the economic downturn, and global decrease in demand on the property market.

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When considering buying a new property in Bulgaria, there are some very important things to consider. Here are just a few tips to help you on your way.

Choose your dream home
This may sound simple… but with so much choice available, you really must do your research. Come out to Bulgaria, and let us give you a tour of some of the best areas, and those which are ripe for investment. We know the country, the areas, and can help find you a perfect investment option.

Buying Land
According to current legislation, it is currently illegal for foreigners to own land in Bulgaria. However, if your dream property comes with land – there is a way for you to legitimately own said land. We can help you through this process easily, and fairly inexpensively

Engage the services of a lawyer
Once you have chosen your property, and agree a price verbally – you must get a lawyer involved. This will protect your investment, and ensure that you do not receive any nasty surprises after the event.

Signing the preliminary contract
Your lawyer should be helping you through this stage of the process, and will help you to check all paperwork. It is customary at this point to pay a deposit on your new property – usually 10%. Should you then withdraw from the sale, you would lose that deposit. However, should the vendor withdraw, then your money is returned to you.

Get that property OFF the market
At this point, the property is then deemed as in process… so do insist that it is taken off the market.

Searches and surveys
Again – use your lawyer for this step, as they can check all title deeds, claims, licenses and outstanding debts are addressed and cleared. Do not skip this vital step – as it may come back and bite you after the event
If you’re buying a resale property you should have a surveyor conduct a full survey on the property and the land to check for structural soundness, build quality and to ensure there is nothing wrong with the land or the property.

Signing on the dotted line
After all this… you get to sign your final contract. This usually takes place in the office of a notery, and both you and the vendor will meet there. You sign the final contract, and at this point the balance of the purchase price is due, as well as any taxes. If your property has been bought offplan – then the payment terms should have been covered in writing for you

Can I get the keys now?
Providing your new home is completed… you can move in, or start decorating it for your new tenants. If an offplan property, then keep an eye on those completion dates (hopefully your lawyer will have negotiated a late completion clause). You should be receiving the title deeds in your name.

Enjoy!

Bulgarian property is right in the sights of many at the moment – despite the current credit crunch. The consistent rise in property and real estate values, the dedicated addition of tourist infrastructure are turning Bulgaria into the new Costas. Having learned from the mistakes of their predecessors, Bulgarian tourism chiefs and the government are dedicated to ensuring that Bulgaria becomes a force to be reckoned with. Cheap flights are available from all over Europe, ensuring ease of access for thousands of eager visitors every year.

Right now many property opportunities are available all over Bulgaria, close to the major tourist hotspots. Unquestionably one of the best is “Vantage Heights”, a  stunning brand new development just north of Varna, which is a major airport serviced extremely well from mainland Europe and the UK. The development boasts Black Sea views stretching out for miles – also taking in the views of Cape Kaliakra over 60km away, as well as excellent facilities for holidaymakers wanting to escape from it all. Nestled into the Chortlen Hills, these apartments and villas are currently available from a fantastically low price of €47,500. These breathtaking properties are already being snapped up by hungry investors, who are well aware that prices will rise once Bulgaria joins to European Monetary Fund in 2012. Coupled with this and the rise in property values that is sure to occur over the coming years – you really cannot afford to miss out.

The development enhances its apartments and villas with a vast array of leisure facilities, including swimming pools, jacuzzis… tennis, basketball and squash courts… and a gym with all the associated activities you would expect from a facility of this caliber. With a 100 seat restaurant, expansive panoramic terrace, lobby bar and two pool bars there are also plenty of areas for your guests to kick back and enjoy fine food and drink. Pampering is not taken lightly at Vantage Heights, and to this end there is a hairdressers, luxury spa centre with an excellent selection of treatments available. Just a short distance away is a golf driving range, and three 18 hole courses, as well as opportunities for windsurfing, paragliding, jetskiing, and Jeep safaris. There is a regular minibus service to the beach too – absolutely everything has been thought of.

Vantage Heights has joined forces with one of Bulgaria’s largest and most well established tour operators, “Holiday Shop”, and have a rental agreement in place, guaranteeing you levels of occupancy for your property. The returns negotiated are above and beyond the norm, and of a level to tempt any potential investor. Construction has already begun on the development, and opportunities are available right now, as well as payment schemes and financing with a well respected German bank, Allianz.

For more information or to purchase your dream holiday property, contact:

Attraction Lifestyles

Whilst much of the world is currently caught in the spasm of recession, the shrewdest of people are wisely looking towards overseas properties as a way to secure their future, and increase their property ownership. Gone are the days of overseas opportunities being the sole right of the rich and famous… today anyone can invest in one of the many bargains available in up and coming countries.

Bulgaria dangles the carrot of interest to many distinct groups of people. For those people seeking a holiday retreat as a second home, Bulgaria offers everything you could ever wish for. For people looking to purchase a holiday property to rent out, the visitor figures are growing at a staggering rate… ensuring a good rental return on your property. Or perhaps you have realised the massively underestimated growth that is taking the investment world by storm.

Bulgaria is one to watch according to the experts, and is the fastest growing country in Europe , with a gross domestic product increase of 6.2% in 2008. It is already fast establishing itself as a major holiday destination, with many low cost carriers now offering flights to Bulgaria , ever increasing the number of visitors to the country. With four major airports serving the area, access is easier than ever. The Real Estate market in Bulgaria is showing a continual and consistent increase, and prices are expected to rise between 15% and 20% over the next five years – making this country one of the most appealing for overseas investment. Those who missed the booms in property in America , Spain or Italy now have the opportunity to invest in the lucrative property investments in Bulgaria and jump in at exactly the right time. Bulgaria ’s Tourism Agency reported that visitor figures had increased by 18% in 2008… with that looking set to blast through the 20% barrier year on year.

Sofia
The capital of Bulgaria is a sophisticated city, and serviced well by its airport. Being the largest and most populated city in Bulgaria brings its own benefits, and the property market is thriving, despite the credit crunch around the world. Property here moves rapidly, and is showing no signs of dipping. In fact, the prices are still climbing year on year, so well worth jumping in right now to ensure a strong return on your investment.

The Sofia Echo reported that Sofia is in the top three fastest growing cities in the world, which is causing great excitement amongst Real Estate developers. Recent visitor statistics released by Sofia Airport showed a staggering increase of 20% year on year – and with the low-cost airline Easyjet adding extra flights and routes to their schedules, this is set to increase even further, bringing an influx of eager holidaymakers to the area. Sofia is one of the oldest cities in Europe , with a plethora of historic building, bustling shopping, and varied nightlife which holds an appeal for anyone. This affords property investors a huge opportunity, safe in the knowledge that their investment value will increase, and that it is a stable holiday destination for many many years to come.

Varna
Varna is described as the “pearl of the Bulgarian Black Sea coast”, and this is by no means a shallow compliment. The historic architecture, stunning backdrops, and bustling city life… Varna is holding its head above the parapet for future investors. Varna has its own airport, and is attracting visitors from far and wide – all keen to sample a taste of Varna life. The infrastructure is certainly in place, with excellent public transport links, expanding supermarket chains, and the generous support of the tourist trade. Just a short drive North of Varna is the up and coming development, Vantage Heights , which has a variety of apartments and villas already being snapped up by discerning investors.

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