Property Details
Unit No / Floor No:
Size (In Sq. Ft.):
Country:
Original Price:
Selling Price:
Fully Paid:
Status:
Unit no. 05/1st floor, Building 2
84.18 square meters
Sofia, Bulgaria
Near Completion!
Contact Investor Gate Via Email
About the Property
The perfect location
Residential properties with views across the city and out onto the Vitosha Mountains. Selected to provide investors with maximum returns, this residential off-plan development is located in the desirable south-side of the city. Just 8km from Sofia Business Park, a short drive from the airport, and with easy access to the motorway, Avalon Residence is the ideal commuter location. As an added attraction, winter skiing is just 20 minutes away by car and some of Europe finest beaches are only a couple of hours drive away.
Why invest in Sofia?
The EU’s youngest capital city, Sofia is set to follow in the footsteps of its Eastern European neighbors, including Prague, Bucharest and Budapest, which have all witnessed a substantial increase in property prices over the past decade. But where prices in these cities have begun to level out, the Sofia property market remains in its infancy and with the support of large investments pledged for the next five years this really is a city ripe for investment.Click here for more updates.
Facilities
• Pre-installation of hot and cold air-conditioning.
• Stunning views of the Vitosha Mountains.
• Complimentary storage rooms.
• Secure gated community.
• Spacious landscaped gardens.
• Outdoor café.
• Cascading pools.
• Restaurant.
• Secure underground garages.
Flexible payment options
Standard payment plan
Non-status lengthy payment plan
Location Map
September 2009 Update
Construction works have significantly progressed on Avalon phase II since our last update. As you can see from the pictures included within this update the buildings themselves are substantially complete, as well as the roadways and surrounding common areas. The interiors of the properties are still in the process of being fitted out and we will bring you more pictures of the internals of the apartments as soon as we receive them.
Floor Plans
The future for Bulgaria and its capital city, Sofia, has
Never looked more attractive for the property investor
A thriving economy
Having recently gained accession into the EU, Bulgaria is witnessing positive steps in transforming its economy, optimising capital growth and profiting considerably as a competitor in the global arena. Capitalising on €11 billion of EU funding, much of which will be ploughed into the capital, the Sofia property market continues to accelerate and looks certain to follow the pattern witnessed by other Eastern European capitals such as Prague, Budapest and Bucharest. Large multinational corporations are recognising the development prospects and establishing regional offices in the area, indicating continued growth and allowing investors to benefit from the upward pressure this is placing on property prices. Sofia Business Park, for example, has already attracted high profile businesses such as Hewlett Packard, Sony and Cisco Systems. This is creating a strong professional let market, requiring new-build and commuter belt properties which are close to both the business parks
and the vibrant cosmopolitan city centre.
Strong rental potential
The capital offers the third highest rental yields in Europe, and the Global Property Guide has endorsed the country as having pro-landlord laws- making it a dream buy-to-let investment. Sofia’s year round property rental market sets it apart
from seasonal resorts such as Bansko, Golden Sands Sunny Beach, which only offer investors short-term rentals. Whilst Sofia property prices have started to rise, prices remain the second cheapest of any capital city in Europe. In fact, the average apartment prices in Sofia are half the price of comparable properties in Bucharest, demonstrating the scope for huge capital growth in the next five years. The Sofia property market is ideal for those property investors looking to purchase at low prices and make a significant return on their investment. There has never been a better time to invest.
Bulgarian Property Prices rise 24.9% in 2008
The Bulgarian real estate sector has witnessed a continuous growth over the last 7 years, with property prices rising 24.9% year on year in 2008. According to the National Institute of Statistics (NSI) however the final quarter of 2008 began to fall due to the current economic conditions which have seen affects on a global scale. Regardless of a range of anecdotal evidence reporting otherwise, NSI data and Knight Frank statistics continued throughout 2008 to reveal positive price rises in the country, with the latter reporting growth of 30.6% year on year in Q3 2008. However, the figures released by the NSI for Q4 2008 paint a different picture, with prices in nearly all of the key markets falling between 5 – 10%, with the national average coming in at 4.1%. Whilst experts foresee that 2009 will suffer the maximum impact of this, Sofia recorded the strongest levels of capital
appreciation in 2008 (47.8%), highlighting the importance and benefits of selecting the right location when securing a property. Despite the economic climate taking affect this year, for investors in Avalon, Sofia, this gives confidence to
the potential growth and rental income which can be gained.
Bulgaria’s Tourism
Bulgaria’s Hotel Sector Takes a Boost
The current economic recession is playing a key role in all recent reports, however despite these concerns recent reports indicate an 8.4% increase in tourist revenue in 2008 (NSI Bulgaria), giving investor confidence that the country's hotel sector could be a ticket out of the downturn for 2009. There are now over 3200 hotels, hostels and lodgings across Bulgaria, offering a total of 130,000 rooms, which is a 7.3% growth compared to 2007 figures. Over 120 new hotels opened last year, the majority of which were located in cities such as the capital, Sofia and second city, Plovdiv and along the popular Black Sea coast in towns such as Bourgas
and Varna. And it would seem that demand for accommodation, not only from foreign visitors but also Bulgarian nationals, is expected to remain stable in 2009. According to the Chairman of the Bulgarian Hotel & Restaurant Association hotels in the southern towns of Velingrad, Sandanski and Zlatograd have been full during this winter season as Bulgarians seek ski and spa breaks and hopes remain high
for the impending summer season. Nearly €4 billion is expected to be generated in Bulgaria during the 2009 tourist season according to the Head of the Bulgarian Institute for Analysis and Evaluation of Tourist Business, half from foreign visitors and the other from nationals encouraged to take domestic holidays. But the government is not leaving anything to chance with an 8 million leva (approx EUR 4 million) domestic and international advertising campaign planned by the State Tourism Agency to promote Bulgarian tourism in 2009
