Apartment for sale in Sofia

ALL APARTMENTS ARE SOLD. BUT MORE APARTMNETS ARE COMING VERY SOON IN THE NEW BUILDING #3

Brand new apartment development in the most prestigious residential area of Sofia! Near hotel Kempinski-Zografski and just next to the Southern Park and the new American Embassy.
OFFERED BY BULGARIAN PROPERTIES LTD., SOLE AGENTS
Off-plan, super luxury apartments are for sale in this brand new, highly prestigious apartment complex consisting of 4 six-storey buildings, located in the most sought residential and tranquil setting in Upper Lozenets, within a minute walking to hotel Kempinski and next to the Southern Park. This area is known as the place where the wealthy people live and the most prosperity international companies have their offices. Further this fine residential location is featuring only brand news modern buildings and offices, fresh air and lots of green spots. Being on the highest point of the city marvellous views to the whole city of Sofia below and the mountain Vitosha above are afforded.

This exclusive contemporary development offers apartments, offices and shops for sale. All with central air-conditioning for winter and summer use. Common underground garage on 2 levels is available. All apartments prices include parking space at the underground garage and basements. The underground garage is reached directly with the elevator. Further these buildings will be surrounded by paved alleys and will have arrays of shrubs and borders around the buildings. Built to an extremely high specification with first class materials only, and also with 5 cm thick insulation between the bricks to keep heat in winter, central air-conditioning system, highest quality PVC double glazing, internal doors of quality MDF, etc.
On the ground floor of Building B will be located a big ultra modern gym.

The first building of the complex is now finished to shell stage (20 Nov 2003) and will be fully completed in April 2004. In block 'B' (the second building) we have only few apartments left. These will be ready in July 2004, now (20 Nov) is completed to the 2nd floor. The last 2 sections (building 'C' and 'D') will be finished in 2005 and the prices will be 75% higher than in the first 2 buildings where we offer apartments now.
All apartments will be finished to the following stage:
-Tiled with Spanish terracotta or granite tile floorings in every room, or with natural oak parquet if the owner wishes so.
- Tiled shower/bathrooms and WCs (toilet bowls, wash basins, cupboards, bath tubes, accessories must be paid separately).
- Latex painted walls in the rooms and corridors.
- Modern internal doors of MDF.
- Central air-conditioning for summer and winter use.
- PVC double glazing windows of the highest quality.
- Secure metal front door covered with wood and decorations.
- Modern elevator with 7 stops.
Only the highest class materials will be used.

Some of the apartments have beautiful views to the mountain and the city of Sofia (see the photos below).
The owners have the opportunity to choose the design of the tiles, parquet and paint. Also, the building is constructed in a way that buyers may choose the number, size and layout of the rooms and where to put the walls inside.
Foreign citizens can own personally apartment/apartments here without registering a company in Bulgaria.
The furnishing department of Bulgarian Properties will offer their professional services in choosing and purchasing appropriate furniture. On request our architects Pavel Ivanov and Gabriela Jambazova can produce the best design and solution for the internal look of the apartments.
Further, the management department of Bulgarian Properties may provide on request full property management at very reasonable price.

For customers buying to let we can offer full service in renting the apartment to long or short term tenants. Being in the most desirable location in Sofia, just minutes walk from the new American Embassy, here the highest possible income may be expected. Offered only to senior managers or other solvent tenants these apartments will provide and excellent investment return. Even if bought just as an investment, without renting it out, the prices here will double in the next 3 years!
For customers who want to manage their rental apartments we will offer a year of free advertising in www.SofiaApartments.com to attract customers. Just an example: 2-bedroom apartment here may be easily rented for 1500 Euros per month, 1-bedroom for minimum 1200.
As proof for the rental prices of the serviced apartments in Sofia please see the rental prices in www.SofiaApartments.com.

One more interesting fact: the new American embassy is being built in the same residential location, within few minutes walking from here. This is another great opportunity to get highly an early viewing and decision, because the number of the available apartments is running down.

CONSTRUCTION UPDATE, PHOTOS AND LATEST NEWS

AVAILABILITY AND PRICES (UPDATED)
Available are the following apartments:
In building 'A' (ready in April 2004)
- Maisonette (2-storey apartment) (A-21) SOLD, 180 sq. m., with magnificent views to the city! 5th and 6th floor, price 148,200 Euro, with 2 garages and a basement.
- Maisonette (2-storey apartment) (A-20)SOLD, , 190 sq. m., with magnificent views to Vitosha mountain and the city!5th and 6th floor, price 156,000 Euros, with 2 garages and a basement.
- 1 bedroom (A-4) SOLD, 73 sq. m., ground floor,(with garage and cellar). Can be also rented as an office.
- 1 bedroom (A-9)SOLD, 89 sq. m., 2nd floor, (with garage and cellar)
- 3 bedrooms, (A-7) SOLD, 2nd floor, 146 sq. m., southern location, (with garage and cellar).

Building 'A': finished to shell stage, to be
completed till April 2003.
The best double-storey apartment
for sale here at 156,000 Euros

In building 'B' (ready in July 2004)
- 1 bedroom (B-1)SOLD, 75 sq. m., ground floor, (with garage and cellar). Can be also rented as an office.
- 2 bedrooms (possible 3 bedrooms), (B-9)SOLD, 2nd floor, 128 sq. m., (with garage and cellar)- 1 bedroom (B-4)SOLD, 72 sq. m., ground floor, facing north-west, (with garage and cellar). Can be also rented as an office or shop.
- 1 bedroom (B-5) SOLD, 50 sq. m., ground floor, (with garage and cellar). Can be also rented as an office.
- 1 bedroom (B-10)SOLD, possilble 2 bedrooms, 100 sq. m., third floor, facing north-west(views to the residential area and the city), (with garage and cellar).
- 2 bedroom (possible 3 bedrooms), (B-3) SOLD, 107 sq. m., ground floor, (with garage and cellar). Can be also rented as an office.
- 2 bedroom (possible 3 bedrooms), (B-2) SOLD, 104 sq. m., ground floor: (with garage and cellar). Can be also rented as an office.
- 3 bedrooms (possible 4 bedrooms), (B-7) SOLD, 2nd floor, southern location, 197 sq. m., (with 2 garages and cellar).
- 1 bedroom (possible 2 bedrooms), (B-6) SOLD, 2nd floor, 100 sq. m., (with garage and cellar).
- 1 bedroom (possible 2 bedrooms), (B-14) SOLD, , 4th floor, 100 sq. m., (with garage and cellar).
The one-bedroom apatments and studios available on the ground floor are suitable for renting as apartments (because the ground floor is about 2 meters higher than the ground level) or as offices. In most cases the office rental is much higher than the rental of apartments.
For the most requiring buyer we would like to highlight the best available two-storey apartment (maisonette) in building 'A' (which is already built) on the top floors 5 and 6 with huge terrace on bottom floor, 2 smaller balconies on the top floors - both with guaranteed views to the whole Vitosha mountain and the Park. On the other side (North-East) over-viewing the whole city and other nice part of this residential area. Internal stairs to the upper floor, stunning living room, open-plan kitchen, dining, 3 bedrooms on the top floor, 2 shower/bathrooms and WCs. Total living area of 190 sq. m. and price of 156,000 Euros. Completely finished, just to fit the bathrooms, kitchen and buy the furniture.
For those buyers interested in renting out their apartments on short term basis (2-7 days)we can recommend the following:
As comparison of the rental returns that may be expected here we would suggest you visit the web-site of Sofia's most popular serviced apartments at Apartment House Sofia which are located just accros the street of our buildings. If you take a llok at Apartment House Sofia you can see what are the needed standards of furnishing and the rental levels. Of course we would suggest slightly lower rental rates in our buildings as this will guarantee stable incoms, more clients and more full days in a the month. For example the 1-bedroom apartments can be rented out for 50 Euros per night minimum and the 2-bedroom apartments for 80 Euros per night. Apartments bigger than 2-bedroomed are not suitable for short-term basis rental. The best apartments for short term basis are the 1-bedroomed ones. Please note that going for short-term rental basis you can expect twice bigger income from your apartment, comparing to rentings to permanent tenants.
We are able to fully manage and maintain the apartment you have purchased. Also, we can run it, advertise to get customers, communicate with customers, make arrangements, run reservatons, provide cleaning lady etc. For all guests booking your apartment we will provide a free pick up service by our car from Sofia airport or from any other place of arrival in Sofia. Full reports will be presented every week to you to see how the business is going, what is the income, spendings, etc. Further if you choose our management services we will furnish the apartment accordingly to reach the needed standard for renting out. Virtually you can only pay the price of the apartment and from there on we take full care and run it for you. If you choose the option to use our management services we will charge 20 % of the profit generated from your apartment.
For buyers who want to run their apartments by themselves, we will provide a year of free advertising in SofiaApartments.com to get customers.
For buyers who want to rent out their apartments to permanent tenants (at least 1 year contract) we can recommend the following: the rental income will be twice lower than if you go for the serviced apartment option (short term basis), but the long term rental has a number of advantages among them the fact that it is proven that people renting apartment for long time are treating the furniture and appliances much better than those staying for 2 or 3 nights for example. Also, for long term rental (1 year) you will have a contract with the tenant and your relations will be arranged with this contract. You can rely on lower, but permanent rental income. Also, the apartment will not need to be managed by us or somebody else in Bulgaria, so there will not be additioanl costs for you. The tenant will pay all expenses and running coast of the flat and you will be receiving pure profit. All apartments here are suitable for long term rentals. For those who want to attract the people from the American Embassy which is nearby we would suggest buying the 3 and 4 bedroom apartments or the maisonettes (2-storey apartments), because the Americans prefer to live in big dwellings. To have tenants from the Embassy is a very good advantage because you will have a contract for at least 3 year with option for another 3. Your contract will be signed by the American Government which means that they will guarantee for everything. Our information shows that the foreign embassies in Sofia are paying 1300-1600 Euros per month for 3 and 4 bedroom apartments. Again this is a pure profit, all other expenses are paid by the tenant. From the 1-bedroom apartments can be expected around 400-500 Euros per month if rented by a permanent tenant. The 2-bed apartment can generate monthly rental of about 600-700 Euros. To all our buyers we will provide the first tentant free of charge (usually 50 % of the first monthly rentul must be given to the real estate agent providing the tenant).
Most of the people who have purchased apartments already in these 2 buildings are famous and respected professionals, businessmen, bankers and many foreginer execs representating international companies in Bulgaria.
Payment plan
Any of the available apartments can be immediately secured by paying a deposit of 30 % of the price plus our agents commission of 3 %, making the total of 33 % transfer to the bank account of the development company. The next payments will be scheduled to April 2004 for building 'A' and to July 2004 for building 'B', at equal monthly intervals and percentages of 40 %, 20 % and 10 % at the end when the keys and title deed is given. At deposit payment a contract with the development company wrtten in English is signed. The final contract and transfer of property ownership will be done when the last payment is made.
Offerd on the market at extremely competitive prices for what and where you get it we recommned early viewings with Bulgarian Properties Ltd. - sole agents.

Questions and answers
Q. Is it common in Bulgaria that apartments are let fully furnished?
A. Yes, more or less, but there are also unfurnished apartments offered for rent. Of course it is more difficult to find customers and the rental price should be 50 % lower than the standard prices.

Q. Is it possible for a foreigner living abroad to get a loan from a Bulgarian Bank for apartment purchase?
A. No. The Bulgarian banks give loans only to people or companies who live or operate in Bulgaria because they can easily learn their history. Plus the loans in Bulgria are expensive-the annual interst rate is 12-14 % However ti is possible to get a loan from a bank in your country and use it to buy apartment here.

Q. Do you keep an eye on the apartment on a regular basis when it is let to long term tenants to make sure they don't "distroy" my apartment?
A. Yes.

Q. Are the appartments freehold or leasehold?
A. Freehold. The buyer owns the apartment, the garage, the basement and percentage of the common parts of the building.

Q. What would be the insurance cost to insure property?
A. Around 0.4 % of the value. Frio exampe apartment+furniture+all appliances evaluated at 70,000 Euros the insurance against fire, thefts, earthquake, floods, natural disasters, etc. will cost around 280 Euros per year.

Q. Is there a monthly service or maintenance charge?
A. There is monthly charge for the lighting and electricity of the common parts, elevators, cleaning lady for the common parts around 5-10 Euros per month. There are also plans to install video surveillance and hire a door-keeper but this will be decided by all owners after the buildings are finished.

Q. Are any of these apartments/premises suitable for business letting (offices, shops).
A. Yes, the apartments on the ground floor are very much suitable for offices, shops, etc. A-4; B-1, B-2, B-3, B-5.

Q. What are the advantages if an aparmtent is rented for shop/business or if rented as residential property?
A. The rental market of business properties in Sofia is on higher price levels. In other words the premises suitable for business lettings are paid higher than if the same property is rented out for living. Sometimes the business lettings are 40 % higher rental price than the residential letting. For business letting are available premises/apartments on the ground floor or the second floor. For shops are suitable only those located on the ground floor. A research of the business rental market in Bulgaria shows that businesses are not moving their offices/retail units often, as each move in most cases leads to loss of customers and lower sales. Another importnat info: in each new development the premises on the ground floor are always sold at much higher price than the apartments on the upper floors. In this development there is no differnece in the prices, the apartments on the ground floor are calculted at the same price per sq. meter like the apartments on the upper floors.

Q. Is planning permission required to let these properties as offices or small shops? In UK this is called office and retail license.
A. No, there is no such requirement in Bulgaria.

Q. What duarantee will we recieve for our money if the builder goes bankrupt?
A. A Bank Guarantee from a first class Bulgarian bank.

Q. Can Bulgarian Properties Ltd. find the tenants, handle the rental contracts, collect the rent, do property inspections, do repairs if necessary, etc and deal with all the tenant issues and at what price?
A. For long term rentals (min. 12 months) we will provide this FREE OF CHARGE. For short term rentals (3-14 days) we charge 20 % of the rental income after dedution of the opertaional costs (electricity and water bills, cleaning, etc.)

For more info, updated availability and viewing arrangements please
call Mr. Stoyanov at 00359 888 804 354 or email to nic@bulgarianproperties.com

more photos available here

Ref. no. BP 638

PLEASE NOTE THAT THE INFORMATION ON THIS PAGE IS UP-TO-DATE. FOR AVAILABLE APARTMENTS, PLEASE SEE THE TEXT ABOVE.