Ljubliana Residential House, Sofia - Emerging Real Estate

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Ljubliana Residential House, Sofia, Bulgaria

Introduction

The Ljubliana Residential building is on Ljubliana Street, 300 metres from the main boulevard Boris III in the Ovcha Kupel suburb of Sofia on the edge of the city centre.

Immediately to the south is Vitosha National Park, which has the highest ski resort in Bulgaria and to the north is the Stara Panina mountain range. The location benefits from being close to the centre of Sofia and the wooded mountainside of Mount Vitosha. The gondola ski lift is 5 km away and the city centre is only 3 km away.

City living - all year round rental potential

Off-plan payment structure

Sofia is the fastest growing city in Bulgaria

This development is ideal for those seeking to buy into the dynamic residential property market of Sofia. The building will create significant interest from the multinational and diplomatic communities in Sofia due its premium location and excellent facilities. This opportunity is ideal for a long-term rental or quick onward sale on completion.

 

The Development

It is a 5-floor residential building with 26 luxury apartments which vary in size from 46 sq.m. to 148 sq.m. The roof is currently under construction and the completion date is May 2006.

Facilities

• Parking places in underground parking lots
• Shops on the ground floor
• Luxurious common parts
• Telephone lines, cable TV, Internet and interphone in each apartment
• Lift to all floors
• Water and heating insulation
• Gas heating

Returns

We conservatively estimate rental yields of 5% to 7% with the potential of increasing to 9% in 2007.

Why Sofia?

• The economy is booming with unemployment at 1 – 2%
• Economic centre of the Balkan region
• High Quality properties in good areas are in limited supply
• Imminent accession to the European Union has meant an influx of diplomatic staff and multinational companies to the city
• Foreign Direct Investment reached record levels last year
• Trade increased with the US
• 550m above sea level making Sofia the highest capital city in Europe
• Population of 2 million and the average age of the population is 38 years
• Four distinct seasons with dry, hot summers and snowy winters
• Multinational companies in Sofia include Shell, Nokia, Danone, Nestle, Cameron McKenna

Payment plan

40% Deposit - December 05

30% - April 06

50% on completion of property

The Apartments

Studios:

Situated on 1st, 2nd, 3rd and 4th floors. Each studio has a built-up area of 46 sq.m. and consists of entrance, living room with open-plan bedroom and open-plan kitchen, bathroom and WC.

2 Bedroom Apartment–Type 1

Situated on 1st, 2nd, 3rd and 4th floors. Each has built-up area of 148 sq.m. and consists of entrance, living room with open-plan kitchen/dining room, 2 bedrooms, cabinet, closet, bathroom and WC, toilet, 3 terraces

2 Bedroom Apartment – Type 2

Situated on 1st, 2nd, 3rd and 4th floors. Each has built-up area of 132 sq.m. and consists of entrance, living room with open-plan kitchen/dining room, 2 bedrooms, closet, bathroom and WC, toilet, a terrace

2 Bedroom Apartment – Type 3

Situated on 1st, 2nd and 3rd floors. Each has built-up area of 100 sq.m. and consists of entrance, living room with open-plan kitchen/dining room, 2 bedrooms, bathroom and WC, a terrace

Maisonette:

On the 4th/5th floor of the building, with total built up area of 182 sq.m., consisting of:1st level – entrance, living room with open-plan kitchen/dining room, bedroom, bathroom and WC, terraces. Second level – 3 bedrooms, bathroom and WC, a terrace.

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