Location: close to the city center

Date of completion: Nov 2007

Service charge:

Description



This high quality development consists of 36 luxury one and two bedroom apartments*. The layout and design of theapartments has been done with comfort and the modern city lifestyle in mind, each incorporating privacy and individuality. Hallway areas separate the bedrooms and living areas, most apartments have private balconies for each of the bedrooms and living areas, and most have a separate WC and bathroom. All apartments will come with a broadband internet connection, cable TV, central heating, air conditioning and fire alarms.



This type of development has several advantages over larger developments:



• More exclusive and private environment

• Higher general build quality

• Better value for money (communal and shared parts of the building are proportionately less, meaning that you actually pay a lower price per m2)

• Better location (closer to city centre)

• Better long term rental potential

• More flexible relationship between developer and buyer to suit individual needs

• Energy efficient (central heating system rather than costly electric radiators, giving hot water 24 hrs a day)



The ground floor will have a communal café / bar with additional areas for shops or offices. The development also has secure parking with private garages on both ground floor and basement level (underground parking).



All apartments have their own private storage area in the basement which is ideal for keeping bicycles, boxes and general items. This is included in the purchase cost. The close attention to detail, high build quality and excellent location make this development very appealing.



* Luxury residential development

* Very high build quality

* Close to city centre, airport, parks, sport facilities and ski slopes

* On site café and shops

* Internet and cable TV in all apartments

* Underground parking

* Private storage areas for each apartment

* Mountain views

* Central heating



About the developer



All of the above amount to a development which offers a reliable long term investment and comfortable living with excellent rental potential. The developer is a Greek company with 18

years experience and a proven track record of high quality completed projects, both residential and commercial. The company specialises in building modern, luxurious and highly functional developments with an emphasis on energy efficiency. An example of this is the installation of the central heating system in the building, which is far cheaper and

more efficient than the usual electric radiator system and gives 24 hour a day hot water.

It is their company policy to build to only the very highest standards, using only the newest and best building materials (which are fully certified). The build process implemented by the developer utilises very precise and technologically advanced systems.



Benefits of the developer include:

• Personal, professional and reliable approach towards clients

• Stability and sustainability

• Financially secure

• Flexible payment plans to suit buyers requirements

• Prompt and on time construction

• High build quality (materials and construction methods)

• Environmentally friendly with emphasis on reduction of energy loss



All of the above amount to a development which offers a reliable long term investment and comfortable living with excellent rental potential.



Investment And Development



Bulgaria’s entry into the EU has already started a wave of investment. Funds have poured in from outside the county, with foreign investment at an all time high in 2006. All the city’s utilities, transport links, airport facilities and telecommunication systems are in the process of rapid

improvement. EU accession has also lead to an influx of diplomatic and clerical staff all needing suitable accommodation. The expansion and upgrading of the city’s entire infrastructure and the extensive building projects throughout Sofia has also lead to a further influx of workers. This in turn has sparked a major upturn in the economy. Many of the worlds largest blue chip companies are attracted to Sofia for several reasons. The city is the strategic crossroads from the West to the

East and the economic centre for the whole Balkan region. Furthermore real estate is the cheapest of all the European capitals and there is a cheap but highly skilled workforce on hand. In summary Sofia is experiencing phenomenal growth and shows no signs of slowing down. In fact due to EU accession and the sheer amount of investment pouring into the city, expansion will continue unchecked for the

foreseeable future. For the private and corporate investor, Sofia offers by far the best value for money over all the other European capitals and huge margins for growth.

The time to invest is now.



About Sofia



Sofia is one of the highest capitals in Europe standing 550m above sea level. It is a city steeped in history with magnificent buildings from a glorious past, stunning Orthodox churches, magnificent Baroque palaces and grand municipal monuments. It is also a city with a bright and exciting future. It now boasts a busy new airport, the exclusive ski resort at Vitosha Mountain (15 mins away) and the steel and glass headquarters of some of the largest blue chip companies of the globe.

The city is the business and commerce centre for the whole of the Balkan region and is considered the crossroads from the West to the East. Unemployment is running at less than 2% and the economy is booming. The population is around 2 million and their average age is 38. This is encouraging a growing café culture and flourishing nightlife scene within the city.

Sofia has four distinct seasons with cold snowy winters and hot hazy summers. Transport links are excellent and Sofia is the gateway to the whole of Bulgaria. An increasing number of tourists are visiting the city every year and the new airport terminal is expecting to deal with over 2.5 million visitors annually. In short Sofia is a vibrant growing city. It is the central stop for all visitors to the Balkans. The booming economy is encouraging more and more people to live there. An increasing numbers of tourists year on year are enjoying both its glorious past heritage and thriving, modern present.



Why Sofia ?



• Just over 3 hours from the UK

• Return flights available from £80 (budget airlines on the way !)

• Just 15 minutes by car to the popular ski resort of Vitosha

• Economic centre of the Balkan region

• Population of 2 million (average age 38 years)

•The economy is booming with unemployment at 1 - 2%

• High quality properties in good areas are in limited supply

• Foreign Direct Investment reached record levels last year

• EU accession has meant an influx of diplomatic staff and multinational companies to the city

• Many of the worlds largest companies already there: Nestle, Cameron Mckenna, Coca Cola, Intel, Allianz, Citibank, Shell, Mobitel, Cable & Wireless, British Gas, Hilton, Raddisson, Danone, Interbrew, Heineken, Kraft foods, Siemens, Hyundai, Nokia



BUYING PROCEDURE



The procedure for buying an apartment in this development is outlined below. However the developer can be flexible to suit a buyers requirements if necessary.



1. Choose an apartment by calling us or checking the availability and details from the information shown on our website (this is updated on a daily basis).



2. Inform us of your intention to reserve. A reservation fee will be required of 2,000 Euros. Once we receive this, the apartment will be taken off the market for 14 days. The reservation fee is non- refundable should you choose not go ahead with the purchase.



3. The purchase contract will be drawn up and sent to you within the initial 14 day reservation period. Once you have received this you will then have a further 14 days to sign and return the contract together with an initial instalment of 50% (less reservation fee).



4. The second instalment is 20%, which is payable on granting of ‘Act 15’ (completion of general build,

scheduled for October 2007).



5. The third instalment is also 20% which is payable on granting of ‘Act 16’ (final completion of all building works, scheduled for December 2007).



6. The final 10% is payable after signing ‘The Notary Act’ which is necessary to take possession of the title deeds.



You are required to either be present in Bulgaria to do this or appoint a solicitor to do this on your behalf by Power of Attorney.



SOLICITOR

We can either offer you the services of our company solicitor to make the purchase (set fee of 500 Euros) or we can assist you in finding an independent one.



FURNISHING

All the apartments are sold as a ‘shell’ but have all electrical fittings in place (light switches and plug sockets).

We can assist buyers with the internal finishing and furnishing if required. There is a set fee for this (which is at a discounted price).

All furnishing is of a high quality and includes all fitting and installations. This will include everything required to live in or rent out your apartment. Please contact us for more details. We will be on hand throughout the entire process to answer any questions or discuss any issues you might have. Please

call us to find out more.



Inspection Trips £250



We run regular inspection trips to look at this and various other properties. The trips are normally arranged over a long weekend (Friday to Sunday) and include half board accommodation in a 3 star hotel. The cost includes flight, accommodation, airport transfers and all transport in modern air conditioned vehicles.





MORTGAGES



The development has been completed up to roof stage now and ‘Act 14’ has been granted which means it is possible to obtain a Bulgarian mortgage to finance the purchase (*subject to status).

Please contact us for more details.



RENTAL & MANAGEMENT



Due to the excellent location and high rental appeal of this development, long term occupancy is assured. There are numerous professional rental & management companies in Sofia who would be keen to rent out and manage these apartments on the owner’s behalf. We will be happy to assist buyers in this regard and can advise a suitable company if required.

The information listed here is given to us from the developers of this property.
As such it is accepted by the client that Homes 4U Bulgaria can not be held responsible
for any inaccuracies or discrepancies between the information listed and the actual property.

Kosmopolis apartments in Sofia © Homes4UBulgaria 2004 - 2008