SOLD OUT Residential building in the sea capital of Bulgaria

 
BULGARIA / VARNA / BRIZ DIST.
Prices from 35 374
SOLD OUT
  • Location: Bulgaria, Region Varna, Varna, dist. Briz, Akchelar area MAP
  • Development: Residential
  • Unit types: Apartments (various types), 1-bedroom apartments, 2-bedroom apartments, 3-bedroom apartments, Large apartments
  • Total number of units:69 
  • Units available for sale:7 PRICE LIST
  • Unit sizes: 41 sq.m – 145 sq.m FLOOR PLANS
  • Unit prices: 35 374 – 117 229 PRICE LIST
  • Prices per sq.m.: 863 – 808 €/sq.m
  • Development status: Under construction
  • Planned completion: October 2016
  • Ownership: Freehold 
  • Rental return (p.a.): 4% (estimated)
  • Capital appreciation (p.a.): 3-4% per year (estimated)
  • No commission

Complex/building features

  • Sizes of units 41 sq.m - 145 sq.m
  • Total unfolded area of the building/s 5416 sq.m
  • Total area/size of the building/complex plot 2500 sq.m
  • Total number of units 69
  • Total number of parking spaces 63
  • Total floors 9

Distances

Rental income features

  • Rental demand in the area Long-term rental,Moderate
  • Who will rent Local people,Young professionals
  • Unit finishing in order to rent Unfurnished
  • Ability to terminate rental agreement Easy
  • Rental management Local estate agency
  • Annual rental income 4% (estimated)

Taxation

  • Capital gains tax/profit tax on resale 10%
  • Tax on rental income 10%
  • Inheritance tax 0%
  • Tax return management Accountant

Exit strategy

  • Resale Possible after completion
  • Easy exit High demand - very easy
  • Resale management/consultant Local estate agent , Stonehard
  • Who will buy Foreign buyers, Local people

*Please note that exit or resale of property depends on market conditions.

Unit/apartment features

  • Finishing Bulgarian standard
  • Furnishing Unfurnished

Facilities in the complex/building

  • Communal Garage, Garden, Information, Outdoor parking lot
  • Recreational Children's playground

Additional purchasing costs

  • Total additional costs Approx. 5% of the price

*These are the total additional costs that Buyer must pay on top of the purchase price. These include notary fees, stamp duty/local tax, solicitor's fees and may also include other costs that are typical for the country where the property is located.
These additional costs include the following, among others:

  • Notary fees 3% of the price
  • Stamp duty 2% of the price
  • Lawyer fees 150 €

Capital appreciation (p.a.)

  • Expected price increase of the property* 3-4% per year (estimated)

*Quote is based on historic facts, market analysis and monitoring of local trends on the market.
*Resale price is fully depending on market conditions. Resale price is not guaranteed.

Ongoing costs and aftersale charges

  • Management fee and looking after property Not obligatory, 20% of the rental income
  • Keyholding Not obligatory, TBA
  • Accountant Not obligatory,