Buy Bulgaria offplan property
One cost effective method of buying property is to buy Bulgarian Off Plan property. Purchasing Bulgarian Off Plan property is the process whereby the investor pays a deposit to reserve a property before the construction has started or certainly in the very early stages of construction.
The benefit to the developer is that they are able to agree the sale of their properties at an early stage. This offers them security and cash-flow when they have very little to show the investor other than the site, plans/drawings and computer generated images. Buying Bulgarian off plan properties in can be beneficial in terms of securing a great development in a fabulous location as well as maximising potential profit.
Most of the investments available through Bulrgaria Offplan Property Ltd. are Bulgarian apartments that can be secured on an Off Plan basis as this type of payment structure offers advantages to both the investor and the developer alike.
Purchasing off plan Bulgarian property benefits the investor as the price of the property can be secured often 1 to 2 years prior to completion, offering significant capital growth prospects. With an off plan purchase, the deposit required is usually between 10% and 20% with secondary payments on the finishing of the roofing works and the final payment being made on completion of the building and financed by a mortgage. We are also currently offering Bulgarian off plan property where the final payment (up to 30%) can be deferred for up to 12 months interest free.
Both in the UK and Off Plan property investments have seen some outstanding results for Bulgarian investors over recent years and this has now become established as the preferred method of purchase for most of our customers buying Bulgarian property.
The Details of Purchasing the Bulgarian Offplan Properties
- Study the Bulgarian off plan developments and apartments on offer in consultation with Bulrgaria Offplan Property Ltd. who are available to liaise with you and the Bulgarian off plan developers 7 days a week. We are in constant communication with the developers so we have up to date knowledge regarding availability. We can also advise you on the payment terms of all developments and issue you with an initial Terms of Sale document.
- After confirmation with us that your chosen Bulgarian off plan property is still available we will reserve it by telephone on your behalf. This will be valid for up to 7 days until your reservation fee arrives at our offices. This fee is a bank transfer for either £750 or €1000. All the information that we require is included on our off plan reservation form.
- The developer will issue you with a full contract for sale. This contract must be signed and returned to the developer within 3 weeks. We will liaise with you, answering any queries that you may have. We will also assist you in returning the paperwork to the developers.
- Within 3 weeks of your reservation, the initial deposit must be paid after deduction of the reservation fee. This will be paid via a bank transfer directly to the Bulgarian off plan developer. Bulrgaria Offplan Property Ltd. will confirm all the relevant bank details.
- Further payments must be made on time depending on the terms of the contract on your particular off plan property. We will advise you well in advance of the dates when payments are required so that you can prepare your finances accordingly
- The Bulgarian property will be yours after completion. The main part of this transaction is the signing of the Notary Act that can be arranged through a solicitor or you can travel to Bulgaria and inspect your finished property. A number of taxes are payable at this stage which in total will amount to approximately 3% of the purchase price. Some of our Bulgarian off plan developers are prepared to share these costs with you and us will certainly help to secure the best deal available when purchasing Bulgarian off plan property.
Purchasing Bulgarian off plan property can prove by far the cheapest and most profitable way to invest in overseas property. As well as having many financial advantages, purchasing off plan property can be beneficial in terms of securing a great development in a fabulous Bulgarian location.
Maximizing Profit from Offplan Investment in Bulgaria
The Process of Price Increase
Prices never remain low for long and, as construction progresses, prices begin to rise steadily. In Bulgaria, as in any other markets, it is important to buy your off-plan villa, townhouse or apartment as soon as possible during the early stages of development when prices remain very competitive but are already beginning to rise. Early investors will invariably see the greatest returns.
Early off-plan property purchase in Bulgaria allows investors to choose the most sought after properties on any given development. The best units always offer higher capital appreciation in the smallest time frame and can often demand the greatest rental incomes. Penthouses are often firm favourites.
As the development begins to be constructed, the value of the units begins to rise. A completed show home is normally available for viewing at this stage, while buyers are taking less of a risk as they now do not need to rely purely on plans.
As more units are sold, the price of the remaining units rises. Units sell faster when buyers are able to physically see them. There is often a phase payment structure in place which mirrors the increasing value of the properties. To the early investor this means that, should you decide to sell your property, it will be worth considerably more at this stage than when you made your initial purchase and paid the 30% deposit.
Investors are currently making some excellent investment choices in off-plan property in Bulgaria and we are dedicated to helping you to pick the best investment options suitable to your particular needs. In this way, you can generate personal wealth through safe and intelligent off-plan investment.
