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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. |
