Latest overseas property investments - June 2005
New RED HOT Bulgaria Development
The exciting new Belfield development in Bulgarias Capital Sofia, has just been launched (11 June 2005) and 15 Units are already sold.
Studio apartments from £26,300
1 bed apartments from £36,600
2 Bed apartments from £55,200
Investing in capital cities is always a favourite of ours, as people will always pay good rental and purchase prices to be close to the business world. With Bulgaria about to join Europe, you can expect excellent capital growth. Sofia property prices have already increased by 40% in the last 12 months.
Current holiday rental yields are estimated at approx 7-9% and long term lets at approx 5%. The building / letting management will be set up when the development is completed.
Investment Strategy 1. keeping the property for life allowing the rent to pay off interest or mortgage payments, which is very tax efficient. Once the mortgage is paid off, the rental income then becomes a form of pension.
Investment Strategy 2. Use the rental income to assist mortgage payments, but then sell the property when you feel the property value has reached its peak, giving excellent capital gain. (Capital Gains Tax in Bulgaria is only 15%)
You can reserve each unit with 1500 euros directly to the Irish development company, which makes purchasing a lot simpler. Then you pay:
40% upon signing of the preliminary agreement,
20% upon completion of rough construction of building,
40% upon completion of the project.
All the best apartments in this new development will be reserved in the next week or two, so if you are interested please contact us now!
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