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  • Burgas
Price £23,381
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Property Description

Gallery Suites:: St. Vlas It is with great pleasure that we introduce Gallery Suites. This luxurious building comprises studios and one bedroom apartments all designed for the high end Bulgarian property market. Gallery Suites is situated in the quiet region connecting the world famous Sunny Beach resort and Sveti Vlas resort. Being just 150 meters from the sea shore, this location is best for relaxation and romantic walks along the beautiful Bulgarian beach. The newly built marina houses numerous shops, restaurants and night clubs just 10 minutes walk from the building. The region is developing at a fast rate and is encircled by prestige and luxury. Just seconds away from Gallery Suites, the Municipality will construct the newest park and shopping center with sea view alleys and unique boutiques. For many years, renowned artists gathered in the area and painted the Bulgarian sea line panorama. Their work will be displayed in the Gallery Suites building, covering the walls of the corridors and lobby. Combining a large art display, this offers the opportunity for every visitor to Gallery Suites to take home a small piece of Bulgaria. For those who appreciate art, this is a unique opportunity to collect paintings and enjoy breathtaking scenery. To benefit most from the experience, the roof will hold two Jacuzzis and a cocktail lounge with its own art garden displaying spectacular sea views and exhibits of illuminated printed art, seen even at night. All owners of properties in the building will have free access to the roof terrace. The terrace complements the artistic design of the building and offers stunning views towards Sunny Beach and the ancient town of Nessebar. To reach Sunny Beach for a fun night of bars, restaurants and discos is very easy and cost effective via excellent public transportation. The bus ride will take no more than 10 minutes to the very center of Sunny Beach. Completion Date: October 2009 Here are some of the amenities in the complex: • Reception area • Hydraulic elevator • Pool and children pool • Pool bar • Bar/restaurant • Green spaces • All apartments have balconies and pool view • Roof Jacuzzi with its own relaxation roof-garden • Roof terrace Cocktail Lounge • Paint work gallery on all corridors • Wireless internet Payment Plan Reservation deposit: EUR 1,000 First Installment: 35% on signing preliminary contract 14 days after reservation (the reservation deposit is reimbursed against the first installment only) Second Installment: 15% when shell construction reaches the specific apartment level Third Installment: 20% at roof level Final Installment: 30% before transfer of the notary deed Additional Information: • The maintenance charge for studios is EUR 350 per year • The maintenance charge for 1 bedroom apartments is EUR 400 per year • All owners have free access to the roof terrace where they can enjoy the Jacuzzi and the Cocktail Lounge • The building has a construction guarantee of 10 years Rental Gallery Suites was designed with the intention to bring both tranquility and to create a substantial income for all the owners of apartment in the building. Given that most people buying an apartment in the resort areas spend only 2 weeks vacation in their own apartment, we thought it would be a great idea to bring in some tourists and create some rental income for our clients while the apartments are vacant. Gallery Suites will attract a rental income of 7-10% of the value of the apartment. Also the value increase for the region is around 15-17%. To make this estimate clearer, we prepared a simple example. For the purposes of this demonstration we will use rounded numbers and a term of 5 years. Assume the property price for a 1 bedroom apartment is EUR 47,000 -here is the increase over the next 5 years: Years 16% Value Increase 8% Rental Income Total After year 1 Euro 54 520 Euro 4 362 Euro 58 882 After year 2 Euro 63 242 Euro 5 059 Euro 68 301 After year 3 Euro 73 362 Euro 5 869 Euro 79 231 After year 4 Euro 85 100 Euro 6 808 Euro 91 908 After year 5 Euro 98 716 Euro 7 897 Euro 106 613 As you can see in this example, the gross return for a property that is worth EUR 47,000 now, will be EUR 106,613 in 5 years time. The gross return on investment is (106,613 – 47,000) = EUR 59,613. That is a 127% increase!

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