German and Austrian pension funds are among the newest entrants to the Bulgarian property market according to a recent report in the Sofia Echo. The entry of such traditionally conservative organisations is a clear sign that good profits remain to be made from Bulgarian property. However, the Germans and Austrians are merely following a trail blazed by investors in Britannia Overseas Property.
“We have been working in the Bulgarian property market for over five years and during that period we have introduced over €60 million into the country, with a substantial element of it coming from corporate investors who have a good eye for an opportunity,” said Andy Moore, former Wales rugby captain and Britannia director.
Increasingly corporate customers are realising the benefits of buying in Bulgaria. Not only does Bulgaria offer an exciting investment opportunity with helpful tax advantages, but access to a luxury apartment for staff and clients is an excellent way of motivating individuals and providing a special thank you or reward.
“Early investors have done well and while we predict the market may not grow as fast as 2006 prices will continue to rise and there are great opportunities to be had for the shrewd investor that focuses on quality and location,” added Andy.
There is no doubt that Bulgaria still offers good value. Studio apartments start from under £30,000 in a luxury development incorporating swimming pools, saunas and fitness rooms to name just a few of the facilities. Investors purchasing in Bansko and other Bulgarian ski-resorts really get a lot for their money and prices are very low when compared to other European ski-resorts.
“Our customers buy in Bulgaria for a number of reasons. Some investors look at it in purely financial terms - seeing the opportunity for a substantial return on their investment. Others love skiing or the sun and like the idea of being able to jet off to a luxurious apartment as the mood takes them. As well as individual purchasers we are also seeing an increasing number of businesses buying apartments in Bulgarian ski resorts and offering the use to their staff as a reward for good performance.”
Britannia has just completed Valentina Heights in Bansko. This development, sold completely off plan, provides a good example of the quality that purchasers will be able to expect from Britannia.
“We provide our purchasers with fantastic build quality by combining the best materials with highly skilled tradesmen and a construction process overseen by a UK qualified chartered surveyor. The finish surpasses that of comparable developments in Bulgaria and the UK, creating a desirability which maximises the potential for successful lettings,” said Andy.
Britannia’s latest developments include the luxury St David’s complex in Bansko, conveniently located 250 meters from the ski lift and Woodland Springs on the exclusive Ian Woosnam designed golf course. Both developments are selling strongly in their off plan phase.
British skiers visiting Bansko during February and March can take the opportunity to visit a Britannia exhibition at the luxurious Kempinsky Hotel every Wednesday, Friday and Sunday evening and arrange their own visit to view Valentina Heights.