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Property opportunity in Sofia, Bulgaria, with 100% non-status finance available and 10% rental income per annum
Sofia, Bulgaria is a rapidly growing city, with huge business parks, and a large number of multinational companies. This property opportunity offers up to 100% finance and properties are being sold pre-let with corporate tenants paying circa 10 per cent returns. The properties are 2 – 4 bedroom, high specification houses, fully-furnished in popular suburbs of Sofia which are in short supply. PR9.NET August 29, 2006 - LONDON, United Kingdom – Hot Properties Worldwide, a specialist in sourcing quality property opportunities in the most interesting and promising destinations across the world, announced today they have added their first property in Bulgaria to their portfolio. "One of the most frequent requests we get from buyers is for deals where they can get high levels of borrowing. However, one of the disadvantages when investing overseas with a view to Buy to Let is that, normally, you are required to put down a minimum deposit of 30 per cent. This deal in an emerging market offers up to 100 per cent non-status finance." says John Hagelin, Director of Hot Properties Worldwide. In addition to 100 per cent non-status finance, houses are pre-let to corporate tenants at approx. 10 per cent yield per annum. The Developer will only be building brand new two-, three- and four-bedroom, detached, high-specification, freehold houses for sale in popular suburbs of Sofia. The main reason is clear – there is a large demand for houses available for rental to corporate clients engaging in business in preparation for the entry of Bulgaria to the EU (2007) and beyond. At present, there are just not enough rental properties of a suitable standard available. 2- bedroom houses from only €95,000. Key Attractions of This Property Opportunity • 100% non-status finance available, which gives buyers the option of a low risk investment in the Buy to Let market. • The houses will be let upon completion to waiting corporate tenants on a 12-month renewable contract. Gross yields will be approximately 10 per cent per annum. • The development consists of two-, three- and four- bedroom, detached, high specification, fully-furnished houses with private gardens and garage. • While the apartment market has plenty of supply in Sofia, the supply of high-quality houses is very low, and demand from locals and the rental market far outweigh this. • The houses are sold with freehold ownership Why Invest in Sofia and Bulgaria • A rapidly growing more affluent local population coupled with foreign companies opening offices in Sofia has led to a severe housing shortage in Sofia. Many large multinational companies are basing themselves in Sofia and their workforce will need year-round, good quality accommodation. • International companies including GE Capital, Ernst & Young, Citibank, Coca Cola, Nokia and Siemens have set up offices in Sofia, showing the confidence these companies have in the region. • The mortgage market has only opened up to locals and investors over the last two years. This clearly will have a dramatic impact on house prices and demand, supporting the fact that there is a strong local market for re-sales. • Capital growth in Sofia is expected to achieve 10 – 20 per cent per annum over the next five years. • Bulgaria is set to join EU in 2007 • Prices are far cheaper in Sofia than most European capital cities, which will ensure strong yields • Bulgaria Air has announced that they are launching additional services between Sofia and Prague, Brussels, Paris, Amsterdam and Barcelona. They have also started daily flights from London. The Development The development will have two-, three- and four-bedooms detached houses, and they will be built and finished to a European standard. The houses' floor sizes range from 95m² to 210m², while plot sizes range from 290 to 400m². They come with private gardens as well as parking spaces. The houses are sold fully-furnished including e.g. furniture, linen, crockery, and bedding. The villas are sold with freehold ownership, and are located in the suburbs of Sofia. Prices start from €95,000 up to €210,000 (at today's value). "This development gives the opportunity to buy a new-built managed 'turnkey' property. As an extra bonus, houses are pre-let with corporate tenants paying approx. a 10 per cent yield. With many buyers keen to buy multiple units, we expect this opportunity to be snapped up very quickly – after all, it's not every day a deal like this comes along." says John Hagelin. To request the invaluable 18-page Information Pack on The Bulgaria project, email info@HotPropertiesWorldwide.com or call +44 (0)20 7095 8700, or visit www.HotPropertiesWorldwide.com # # #
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About Hot Properties Worldwide Hot Properties Worldwide specialises in sourcing quality properties in the most interesting and promising destinations across the world. The portfolio gives their Clients a choice of overseas properties, whether for investment, lifestyle or retirement purposes. The company’s success is built on carefully selecting the most interesting property opportunities from extensively researched areas of the world. Hot Properties Worldwide go beyond the realms of just real estate and property purchase as the company do their outmost in providing comprehensive intelligence about selected developments and markets. The company believes in providing Clients will all the information they require to make informed property decisions based on the facts. The availability of this information will significantly increase clients’ success and financial returns when buying overseas properties. www. HotPropertiesWorldwide.com |
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