After a year of being part of the EU, Bulgaria’s property investment prospects show no sign of relenting. As the country’s tourism appeal continues to rise, it is offering investment opportunities in its new growth market: high-end, luxury vacation resorts.
From its sandy beaches to ancient villages, Bulgaria’s rich, cultural heritage and natural beauty have placed the country in the top ten destinations of the overseas property market
and have become widely recognised on the travel and
holiday market. In the last year alone the number of EU holidaymakers visiting Bulgaria has grown by 30%. The long, warm summers,
dreamy-scented rose fields, richly-coloured orchards and sun-drenched vineyards are contributing to the country’s growing success and
increased appeal.
 Investment leader
Over the last five years, Bulgaria has managed to develop and sustain its position as a leading investment destination on the Central and Eastern European overseas property market, making it accessible to first-time buyers and those seeking to buy their ideal holiday home. A full year of membership in the EU means that Bulgaria is in better position to cater for all levels of international investment. Having silenced fears from the foreign community through its obvious success, Bulgaria is ready to welcome a second tier of investment by offering investors globally competitive products.
Diversification
Bulgaria’s strategic geographical location, rich natural resources, strong political power and favourable tax regime provide unlimited possibilities for the savvy investor. In recent years the Bulgarian government and national tourism agency have recognised the need to diversify the nation’s products in order to reach new markets. By improving upon the natural appeal of the country and focusing on what Bulgaria is best known for - its hospitality, untouched natural reserves, ancient wine making, rich culture and healing waters - Bulgaria is able to offer new opportunities to investors. This will allow Bulgaria’s market to develop even further and become one of the leading worldwide travel destinations.
 Bulgaria’s recent economical and political undertakings, which permitted two new major EU infrastructural projects to pass through its territory, have increased the chances of bringing fresh investment to sustain its increasing growth rate.
Full-service sophistication
The Bulgarian property market has experienced a boom in foreign investment and, as tourism is its fastest-growing industry, a new tier of more sophisticated developments are appearing on the market. The country is establishing itself as a leading tourist destination, placing the luxury-travel industry ahead of the second-home market.
Property development companies have recognised the need for foreign investment in high-end resorts and therefore investment opportunities in contemporary, spacious, elegant and full-service resorts are increasing. Many high-end luxury resorts, idyllic havens set among the smaller picturesque towns and villages, are offering sound investment propositions away from the overcrowded Sunny Beach and Golden Sands resorts. |
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The Bulgarian property market has experienced
a boom in foreign investment.
Obzar opportunity
The Cliff, Beach & Spa Condo Hotel Residences, located on the south beach of the town of Obzor, is among a new trend of resorts developed around the Condo-Hotels brand, which is well-established in North America and increasing in popularity across Europe. This luxury retreat is poised on cliffs overlooking the Black Sea and Obzor Bay and surrounded by rolling hills, traditional Bulgarian villages and beautiful vineyards.
With 140 exquisitely-designed apartments and rooms, the Cliff offers the highest level of luxury and sophistication. Residences include: lounge and dining areas, fully-equipped kitchens, private balconies, audio-visual entertainment systems, wireless internet access and, available in some apartments, private jacuzzis.
Fine international and Bulgarian cuisine is served at the restaurant and delicious cocktails can be enjoyed at the Lounge Bar. The Beach Bar offers drinks on the beautiful sands of Obzor Bay. Alfresco dishes and poolside drinks can be savoured at the Pool Terrace Brasserie.
The Cliff, a member of Luxe Hotels Worldwide, one of the world’s leading representation companies, offers a high level of facilities and leisure pursuits. Amenities include: concierge, butler service, valet parking, business and conference centre, airport shuttle service, state-of-the-art fitness centre, lap pool, sauna, steam room and spa and an indoor and outdoor jacuzzi. Activities consist of: wine tasting, deep sea fishing, horseback riding and sailing. Skilled therapists are also available to provide popular health and beauty treatments.
A new all-inclusive residence club ‘The Prive’, which is managed by L-Hotels, is launching this year. This exclusive club will be adjacent to The Cliff and will offer world-class services and luxury amenities. Designed and developed by TVL-Group, both The Cliff and the residence club offer a five-star service.
Tax incentives
To complete this attractive investment proposition, the complex also offers several tax-efficiency options developed by TVL UK and OtiumInvest. Additionally, The Cliff will be the first tax-free investment opportunity in Bulgaria where VAT is reclaimable. Investors can either buy a whole suite or shares in a suite, with each share costing as little as £10,000. Each form of investment is highly tax efficient: not only will business asset taper relief on Capital Gains Tax (CGT) be applicable, offering a maximum of 10% on the increase in value as opposed to 40%, but OtiumInvest is currently working with a regulated Self Invested Personal Pension (SIPP) provider that will allow exemption from both CGT and income tax.
Ultimately, Bulgaria understands the importance of offering sophisticated clientele a perfect balance of nature, history and comfort and The Cliff is one of the first developments to meet the needs of this upmarket trend on the Black Sea Coast’s ever-developing property market.
Further information
TVL Group
Website: www.tvlgroup-bg.com |
