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Investment Summary:
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The Belgravia, Sofia
98 Apartments in the University Quarter, next to the business district of Sofia. Providing excellent capital growth The Belgravia.
- Est. 1st year Return on Investment 60%.
- Pre-launch prices direct from developer
- Stating investment from £13,300
- Second Payment in 12 months from £10,000 (maybe mortgageable)
- Build period 24 months
- Actual purchase prices from £45,000
- Market growth estimate 20% p.a.
- Next to the Business District, at the heart of the University Quarter
- One of the key Growth areas.
- Excellent Capital Growth potential
- High Rental potential
- High resale at completion potential
- High demand from internal market for completed new apartments
- Excellent exit strategy either sale or rent at completion.
Located between the prestigious area of Lozenets and Sofia’s business district and with stunning views of Vitosha Mountain, The Belgravia sits within one of Sofia’s key growth areas. This private complex is in the heart of the University Quarter, and is naturally protected by surrounding parks, sports fields and university buildings.
In this phase, there will be four residential buildings each with between 23 and 29 premium studios, one-bed and two-bed apartments. The development has three phases of construction, with the second phase launching in July 2007.
Our architecture and construction brief was to develop apartments that have strong appeal within the local market in order to maximise rental return and reselling prospects. Gated communities with leisure and parking facilities have become increasingly popular within the Sofia market, and with limited room for expansion so close to the city centre, demand for such accommodation is high. Accordingly, rental returns from these apartments will have a premium and there will be a dedicated onsite rental and management company available for our clients.
In Photos
Key Investment facts for Sofia
- Highly skilled, multilingual workforce at Europe’s most competitive wages.
- GDP 6.5 per cent (2006 Est).
- Stable and predictable business and political environment, economic stability and strong growth.
Parliamentary democracy. - EU Membership has given access to markets of over 500 million consumers.
- Already a full member of NATO.
- The lowest operational costs and tax rates in a European market economy.
- Industrial goods traded duty free between Bulgaria and the EU, EFTA, CEFTA and Turkey.
- Flat corporate income tax rate of 15% (expected to decrease further) and free movement of capital.
- No restrictions on after-tax repatriation of profits.
- VAT exemption on equipment imports for investment projects over 5 million Euros.
- Annual depreciation of 30% for machinery & equipment, 50% for new equipment used in entirely new investment or expansion and 50% for software and hardware.
- 55 treaties for avoidance of double taxation and 52 agreements on mutual protection and promotion of foreign investment.
- Excellent climate, natural scenery, food and hospitality.
- Three-hour flight time from UK airports; increasing number of low-cost airlines flying to Bulgaria.
Purchase Procedure
- 1,500 Euros on reservation
- 35% on Exchange of contracts within 21 days (less reservation fees).
- 30% on block completion, expected July 2008.
- 35% on final completion, expected July 2009.
- Mortgages available up to 85% LTV.
Example Floor Plan
Complimentary Report:
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