Selene Development Update
10th December 2010
The Selene Development in the Lyulin District of Sofia like many others has been hit hard by the global financial situation of the last couple of years and with credit even harder to get now for foreign investors in Bulgaria, many off plan buyers are left hoping to pull out with the aim of getting their deposits back, although this is far from practical.
Protocol Act 15 is expected around March & April 2011 with the next payment on the development scheduled at 70% of the apartment price. Act 16 and the Occupancy Permit is expected around July - August 2011. But as many have found out in Bulagria, things may not be that smooth.
Latest Photos - December 2010
Our agent out in Bulgaria is Simon Tweddle who told us "Current sales prices are around the €650sqm mark in the development. However, practically not much is selling in Sofia ... particularly due to the lack of finance. I have heard there is potentially some new mortgage products coming onto the market soon but no definite details yet."
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