After years of being associated with cheap rural homes, Bulgaria is bidding farewell to its bargain countryside image with a wave of new prime resorts. Goodbye low-priced cottages, hello coastal luxury.
Prices, though, are still affordable for buyers from Western and Central Europe. It’s a balance that consultants Consultica BG Advisors have turned into a philosophy.
“Our goal is to always offer you the most unique and exclusive properties in selected areas of Bulgaria,” explains Managing Partner Kalin Stoyanov.
“We concentrate on properties with regular rental returns, high capital appreciation and, most of all, excellent locations, in order to guarantee a smart investment.”
It is an approach that has attracted investors from around the globe: the company, based in Varna, has partners located in London, Moscow and Kazakhstan, with associates that speak fluent English and Russian.
The latest project from the firm is the epitome of that aim: the resort of Kaliakria.
Kaliakria is nestled on the Northern coast of the Black Sea. Designed by Spain’s Gustavo Kloster, who is famous for his luxury villas in the Costa del Sol, the resort combines Mediterranean class with local culture. Wooden pergolas meet world-class golf courses – three, to be precise.
Kaliakria is located above the iconic Thracian Cliffs Golf and Beach Resort, which was elected Europe’s Best Golf Resort in 2014 by the International Association of Golf Tour Operators. Courses in the area include the Black Sea Rama Golf course, designed by Gary Player, and the Lighthouse Golf Resort, designed by Ian Woosnam.
The 1 and 2 bed apartments offer stunning views, beautiful nature and seven months of sunshine a year. But these are only the start of the benefits: the properties also offer 8% guaranteed rental return.
Bulgaria’s flexible tax system makes the opportunity even more appealing.
“Tax is only 10% for individuals,” explains Stoyanov, “which when taken with the guaranteed return from rental revenue has made some of the offers particularly attractive for those who wish to either purchase a holiday home for the family or buy simply to rent out for additional income.”
Now that the complex is fully operated and inhabited, the remaining units are being sold from as low as €58,000.
“We want to change the perception of Bulgaria among European property buyers and show Bulgaria in a new light,” he adds.
Europeans have certainly always loved the country’s beaches. Bulgaria was ranked Best Value Holiday Destination in Europe for the second year in a row by Post Office Travel Money in 2014. But while the value is still there, the quality is even better.
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