The White Coast Development

Reference number:	PP091
Country:	Bulgaria
Town:	Black Sea Coast
Type:	Apartment
Price:	From £44,950

Key Points

• Property Investment Hotspot
• High Capital Growth
• Buyers Can Raise Money By UK Re-Mortgage
• Excellent Rental Income, high rents for holiday lets
• Contemporary Apartment Design
• UK Developers
• Clients have land ownership
• 20 Minutes from Varna Airport
• 10 Minutes from Golden Sands
• Apartments paid for in Stirling to protect clients from currency fluctuation
• 10 Year Structural Guarantee
• Bulgarian Mortgages available

• Upon completion of the development, the land owned by the developer will be transferred to subsidiary firm. The bespoke management firm, dedicated solely to this particular project, will be wholly owned by the owners of the apartments, with company shares included in the purchase of the property.
• The White Coast site will be under the direct control of the apartment owners, and they themselves will be able to decide how the land should be improved and govern what services the management company offers residents and guests.
• This will make the apartments easier to sell on in the future.

UK Developer and UK Solicitor

• The developers have carefully selected the White Coast location to achieve maximum capital growth and high rental income year after year.
• We have offices in both the UK and Bulgaria, with local staff based on The Black Sea Coast.
• Our legal team and Accountant are available to offer advice.
• The Preliminary Contract has been drawn up by John Howe of John Howe and Co Solicitors, Leeds.
• John acts on behalf of The British Law Society, offering advice for clients buying in Bulgaria.
• He has worked in conjunction with our Bulgarian Solicitor.

The Area - Refer to brochure

• Albena and Golden Sands is THE most exclusive area on the Black Sea Coast, therefore the rental income potential is higher.
• Since 2004 tourism has increased by a massive 50%.
• 3 PGA standard golf courses are situated twenty minutes from the site, designed by Gary Player and Ian Woosnam. This will increase rents especially at off peak times of the season.
• The White Coast Development is only twenty minutes from Varna Airport, on a brand new by-pass that takes you directly to the airport.
• The site is located within ten minutes of the bustling, well established resort of Golden Sands and four minutes from the luxury spa resort of Albena.
• The site boasts the most outstanding coastal views on the whole of The Black Sea Coast.
• Next to Rogachevo Village, an exclusive residential village with highest property prices on the coast.
• Building in the Golden Sands has been restricted, to avoid over saturation. This will increase property prices and rental income.

Golden Sands

10 minutes drive from the site, a well established, bustling family holiday resort, with an abundance of quality bars, restaurants, four and five star hotels, fabulous golden beaches, shops and supermarkets, casinos, water sports, live music, car hire centres, all in a relaxed, family atmosphere.

From five star gourmet restaurants to traditional family steak houses, Golden Sands has everything.

Albena

4 minutes drive from the site, a luxury spa resort set in picturesque woodlands with a gorgeous stretch of white sandy beach (blue flag) and an inland lake. Around 100 catering establishments, 43 hotels, casino, congress centre, trips to Istanbul and Cairo, jeep safari, unique sea climate and very clean air.

Albena reaches 32 degrees in summer 19 in April and October, April – September 8-11 hours of sun.

Anti stress programmes, ecologically clean being in a gulf. thermal mineral water has healing properties. Many sporting activities available including equestrian centre, go-karting and horse riding.

Balchik Marina

12 minutes from the site, Balchik is an existing marina that is being developed into a luxury, yacht club style marina. With fabulous restaurants and bars surrounding the marina, ideal for couples and families.

Kranevo

4 minutes drive from the site, Kranevo is a small Bulgarian coastal town with an abundance of traditional Bulgarian bars and restaurants. Calm, warm sea with a shallow bottom and 400,000 sq metres of beach. 24 hour hospital and supermarkets are situated in Kranevo.

Karvana

20 minutes from the site, 3 PGA standard golf courses designed by Gary Player and Ian Woosnam are situated close to Kavarna.

Varna

20 minutes from the site, Varna is a thriving and vibrant city. It has a very cosmopolitan and European feel to it, with everything you would expect from a city in the EU. With a fantastic beach as well.

Bulgaria

• Now EU Members and members of NATO
• All round value for money
• Rental Market is the fastest growing in Europe
• Massive investment into road networks and airports
• Around 300 days of sunshine per year
• 220km of Blue Flag Beaches
• THE European Property Hotspot
• Tourism set to continue to increase due to the influx of low cost airlines
• Average price a beer is less than £1, bottle of wine £4, steak and chips £3.50.

The Development and Apartments – Refer to brochure and Spec

• Unique, contemporary design
• Build standard will be of the highest quality
• Modern, marble effect flooring, modern bathroom and fittings
• Fabulous coastal views
• Floor to ceiling glass
• Open plan, modern feel
• Fully fitted kitchens, unusual for Bulgaria
• Contemporary style swimming pool, children's pool and three whirlpool spa's
• Gated community and secure site
• Lifts and stairways to all blocks
• Picturesque gardens
• Secure underground parking
• Large balconies offering stunning views
• Satellite TV reception to all blocks
• Gymnasium
• Hot and cold air conditioning
• The development will be fully managed, including pool cleaning, garden upkeep, refuse collection and general site upkeep

Mortgages

• Bulgarian Mortgages are available through Bulgarian Home Loans, based in Sheffield, a mortgage advisor will be assigned to our development.
• Buyers can get a Bulgarian mortgage to cover the final payment if they wish.
• They can get a mortgage for the new value of the apartment, which is likely to be significantly higher than the price they have paid.

Payment Terms - Refer To Brochure

• A reservation fee of only £1000 will fix the price of an apartment and take it off the availability list. This £1000 is fully refundable for up to one month, not many companies offer this.
• Four weeks after reservation the Preliminary Contract is issued and Payment 1 is due.
• Most clients are re-mortgaging their UK properties to cover payment 1.
• Payment 2 is due when the development is complete, approximately December 2007.
• Most clients will be again using the re-mortgage for this payment.
• We have a financial advisor available who is on hand to offer mortgage and financial advice.

Rental and Furniture

• Sunshine Coast Investments offer various furniture pack options, which are very reasonably priced.
• A deluxe furniture pack for a one bed apartment is currently costing approximately £3,500. Everything needed for renting is included.
• Various rental packages will be available on completion, some companies offering guaranteed rental income.

NEWS RELEASE

BUYING PROPERTY IN BULGARIA GETS A LITTLE EASIER THANKS TO LANCASHIRE PROPERTY DEVELOPER AND LEEDS LAW FIRM

Bulgaria is fast emerging as one of Europe's property hotspots, with investors currently achieving up to 30% capital growth on their properties. The 'buy to let' market in particular is on the increase, with rental incomes beginning to climb thanks in part to the influx of more low-cost airlines and the acceptance of Bulgaria into the E.U.

Now, with an increasing number of foreign nationals looking to take advantage of these profitable figures and safeguard their economic future by buying a second home abroad, Pearl Property are here, to help ease the buying process by introducing a new concept of property ownership into Bulgaria.

At present, while foreign nationals can own an interest in a building in Bulgaria, they cannot own an interest in land. This means that while the individual can own an apartment or a house, they cannot own the land upon which it sits. In most cases, the ownership of the land is in-fact retained by the property developer, who then assigns the general maintenance and upkeep to a third party. This arrangement means that the building owners have little or no control over the land their property sits on, or on the level of service they receive under any maintenance agreement.

"Bulgaria's property market is shrouded in a good deal of red-tape, which has in the past made it virtually impossible for foreigners to own land and therefore own all of their home outright. In recent years the only way around these strict laws was for foreign nationals to establish a limited company in Bulgaria, through which they could purchase the property and the land together. Understandably, this made the deal more complicated, increasing costs and exacerbating buyer stress."

Pearl Property are hoping to change this and are introducing a new concept into property ownership in Bulgaria, which will make it an easier and more pleasurable experience for foreigners wanting to buy their share of the country's buoyant property market.

The firm, which has offices in London, UK and Varna, Pamporovo, Sofia Bulgaria, are starting the ball rolling with this 'White Coast Development,' located close to the exclusive spa resort of Albena on Bulgaria's Black Sea Cost. In contrast to traditional Bulgarian purchase processes, a foreign national who chooses to buy one of the 82 luxury properties at the White Coast Development, will be given full ownership of the land, as well as the property.

This is made legally possible because, upon completion of the development, the land owned by the developer will be transferred to subsidiary firm,. The bespoke management firm, dedicated solely to this particular project, will be wholly owned by the owners of the apartments, with company shares included in the purchase of the property.

"In simple terms by using this method buyers are able to utilise the Bulgarian system and purchase their property and the surrounding land more easily, but still in a way that complies fully with Bulgarian law."

Under the unique agreement the management will be under the direct control of the apartment owners, and they themselves will be able to decide how the land should be improved and govern what services the management company offers residents and guests.

"During the subsequent sale of the apartments, owners will sell not only the apartment itself, but also their share in the management company which in turn owns the land. This should assist in the marketing of the property on any such sale, as being able to purchase a corresponding interest in land is such an unusual occurrence for foreign nationals."

The developers are currently the only developer building in Bulgaria that is offering such a comprehensive package to its buyers, giving clients additional peace of mind and ease of purchase. The policy is so far proving to be successful, with the company having already sold more than 50% of its luxury, one, two and three bedroom apartments and penthouse suites, off-plan within a short period of time.

"I can understand why foreign nationals are keen to buy in Bulgaria. The country is great value for money and currently benefits from around 300 days of sunshine a year, with more than 220km of outstanding Blue Flag Beaches. By easing the buying process and offering prospective buyers higher levels of assurance and support, we hope that more people can take advantage of Bulgaria's assets and make themselves a little profit along the way."

To request further information about this property, please click here.

Open 10am - 10pm seven days per week

Pearl Property Ltd Bg, 37 Marshall St, London, W1F 7EZ, UK.
Tel: +44 (0)800 047 0466 (freephone), Bulgaria: 00359(0)89 548 5171, Call Me Back
Fax: +44 (0)870 0940 765 | email: info@pearlproperty.net | Skype: marykarman