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• Located in the aspirational residential area of Vitosha, this landmark development incorporates swimming pool and spa with views of Mount Vitosha
• Prices start from £79,164 and an independent valuation has valued our units at 10.9% below market value
• White finish is included in our prices, which is very unusual for Bulgaria. The total price of units, including white finish, can be mortgaged
• Property Secrets has negotiated a 5.5% discount off the list price. We also have payment terms with only 20% down initally
• A new metro line, just 750m from the development, is due to be completed in 2014

The property market in Sofia is still at the very early stages but we are already seeing a fractionalization of the market. As the market matures we are seeing developers now catering for different sectors within the Sofia market. Districts such as Vitosha are developing as middle class areas with developments such as Vitosha Tulip aimed at this market.

Vitosha Tulip is a high-quality gated development, very well designed with on-site facilities that boast a swimming pool, spa and health centre. With just 144 units in the entire development, we believe demand will be strong for this type of development in this area. The development site is landscaped with uninterrupted views of Mount Visosha. When you consider the prices of units and the specification of the development, investors are getting very good value for money – hence increasing its appeal.

The development will be completed to white finish, ensuring this cost may be mortgaged by investors. Without final finish (white finish), the investor would need to factor in the costs of installing bathrooms, flooring and painting their unit and the cost could not be mortgaged. There is also the huge benefit of not having to go through the hassle of finishing the unit after completion. This is important as it can reduce lengthy void periods as investors source trades people and wait for their units to be finished. We are currently one of the only investor groups that can offer this to our clients as developments are typically completed to black finish state. This gives our investors the added advantage of having their units completed by an experienced developer and to a high standard of finish.

We are also offering investors fantastic payment terms of 20% on exchange and 40% on completion with the remaining 40% due on handover. This can be seen as better tha 20/80 terms as you are only paying 40% on completion.

Total property prices start from £79,164 including white finish, parking, storage and VAT and this represents an excellent price to invest in a high-quality development in the exclusive district of Vitosha. Residential development in the Vitosha district is low density and this will continue due to recent planning restrictions on high density developments.

Close to the city centre, and Sofia’s commercial centre in the south of the city, the area still maintains a quiet and exclusive feel. This development is situated in a stunning location with views of Vitosha Mountain.

Valued at 10.9% below market value by an independent valuation, we believe this development offers excellent value for money and great potential for capital growth and rental demand.

The Sofia market is currently at the start of its growth phase and it is at this stage of the market that we see the highest capital growth. Think of the Bucharest market at the start of 2007 when the market really started to boom and we saw capital growth of 30% and more. We are predicting growth of around 20–25% in Sofia in 2008. For investors seeking high capital growth in a capital city location, we believe this deal makes a great addition to an investor’s property portfolio.

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