Vitosha Park, Sofia, Sofia

Country

Bulgaria

Area

Sofia-city

Region

Stolichna

Town

Sofia

Vitosha Park is a private gated residential complex located in a unique position at the foot of the Vitosha Mountain in the exlusive Simeonovo district. It is sold off plan with completion scheduled for December 2008.

The development is situated adjacent to the ski lift and has panoramic views of both the Vitosha Mountain range and the city of Sofia.

Vitosha Park is just 10 minutes from the vibrant city centre and is 8 km from Sofia International Airport. Passenger traffic to the airport is growing rapidly as more and more holiday makers and business travellers visit the capital. This trend is set to continue with the new terminal due to open in mid/late 2006 and the first of the low cost airlines (Wizz Air) having recently started flying there. It is also 5 minutes from the vast Sofia Busniess Park, Bulgaria's newest and most prestigious business park, which boasts an impressive concentration of foreign multinational companies and which will eventually employ over 30,000 people.

Why invest in Sofia?

• Fastest growing city in Bulgaria
• All year round rental market
• All year round tourism
• Economy expanding rapidly (GDP 5.5% in 2005)
• Low unemployment (2-3%)
• Doubling of population in last 5 years
• Massive foreign investment
• Shortage of quality properties
• Currency pegged to the Euro
• EU membership expected in 2007
• Blue Chip international companies setting up there
• Direct Flights to/from all major European Capitals
• Increasing availability of local mortgages

The Development

Vitosha Park is a private gated complex of ultra-modern apartments and penthouses within 7 apartment blocks. We are currently featuring Lilia House. Investors interested in other apartment houses should speak to our sales staff.

The development offers 24 hour security and all the facilities one would expect from such a prestigious project. All the buildings are situated within an enclosed landscaped area designed to include tree-lined avenues, walkways and green areas. Underground parking (at an extra cost of 11,000 Euros) is available with additional over ground parking for your guest's convenience.

The apartment comes with a 2 year 5% rental guarantee at no extra cost.

The following apartment types are available:

• 1 bedroom apartments of 50-65 sqm
• 2 bedroom apartments of 80-90 sqm
• 3 bedroom apartments of 130-160 sqm

Features and Facilities

Features:

• Luxury fitted Kitchens and bathrooms included in the price
• Real Wood Floors
• Balconies with views of the City and mountain
• Broadband
• Lifts to all floors

Facilities:

• Heated outdoor covered pool
• International standard Sports and Spa Centre
• Tennis Court
  
• Ski and Rental Shop
• Reception/Office
• Restaurant
• Café
• Laundry Service
• Broadband
• Lifts to all floors

Payment Plan

35% on signing the Preliminary Contract     May 2006
20% on completion of second floor   Nov 2006
15% on completion of roof   May 2007
30% on final completion   Dec 2008

Reservation Fee (deductible from first instalment)   
1000 Euros

Rental return and Maintenance

While properties in the Simeonovo district have always achieved high rental returns, Vitosha Park is expected to command even better returns as it benefits from a unique and desirable location. Also, considerable rental uptake is expected from the nearby Sofia Business Park as accommodation of this quality is at a premium.

The developer offers a 2 year rental guarantee of 5% at no additional cost.

Full rental management will be provided at the owner's request.

Maintenance and Service changes are expected to be approximately 9 Euros per sqm.