Buy ‘Off Plan’ Property in Bulgaria
Off plan property purchases in Bulgaria can provide excellent
returns. Purchasing property “off the plan” means that you are
purchasing it before construction has commenced. Off plan property
purchases have become quite popular in many countries, as it offers
several advantages to the buyer. The most important advantage of
purchasing a property “off the plan” is that a buyer needs to pay
only a small amount of the purchase price as a deposit and then
often nothing until the construction process is completed. This
means a buyer can easily get the balance amount financed with a
mortgage if necessary.
The other advantages of “off plan” property purchases are the
following:
- As a buyer, you pay less than
the expected market value of the property upon completion.
- You will always have the option
to sell the property even before its completion.
- Off plan property also benefits
the developer as he is able to attract working capital for the
project with less dependence on bank finance.
In recent years, Bulgaria real estate
market is booming with “Off Plan” properties. It currently offers
many Off Plan purchasing opportunities to the interested buyers. The
best thing is that mortgages are now available in Bulgaria for even
foreign buyers. As a result, a further increase in demand and
consequently in prices is expected. So, if you are thinking to buy
an Off Plan property in Bulgaria, it is just the right time to take
your call before property prices soar higher.
Off Plan properties in Bulgaria by
renowned developers are ideally located (like Banya which is near
Bansko in Bulgaria) and feature superb designer apartments and
studios, spacious interiors, glorious sightseeing, and extensive spa
and well being facilities like spas, fitness centres, outstanding
eating outlets, and much more. Such a property combines luxury with
serenity amidst breathtaking views. If you are interested in
investing in a prestigious Off plan property in Bulgaria, you may
consider Pirinea Hotel Spa and Residence, situated in Banya, just 5
minutes away from the extensive skiing area of Bansko. The place is
renowned for its superb all-year round spas and mineral waters.
Whilst you decide to buy Off Plan
property, it is always advisable to ensure the reputation, honesty,
goodwill and the financial security of the developer. So, before you
sign the contract, find complete details about the developer,
including the number of years they have been in this industry, the
number of projects they have completed till date, and so on. You may
also check with builder’s licensing authorities to see if any
complaints have been filed against the developer. Also, read the
contract document carefully to understand the charges applicable and
the special clauses, if any.
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