BLACK SEA VILLA
Don’t miss the chance to review this offer and go for a viewing trip to a house located in a village, at a 20 km distance from the centre of Varna, 20 km from Varna International Airport, 15 km from Golden Sands resort and 7 km from Albena resort.
MARKET OVERVIEW
The housing market is still reeling from the global crisis. During its bubble period from 2000 to 2008, home prices grew 300 percent, partly in anticipation of the country’s joining the European Union in 2007. During that period, particularly from 2004 to 2008, British investors largely drove the market for speculative purposes, buying unfinished homes from floor plans, anticipating price gains from such factors as road construction or city incorporation.
The British went crazy in the Bulgarian market, because they thought it would be a second Spain. Apparently, there was a property market boom in Spain in the mid 90’s, when the sun seekers wanted to have a second home to escape to. And many people made a lot of money speculating, and they wanted to do the same thing in Bulgaria. The market went into downfall after 2008 due to the heavy financial crisis in the United Kingdom and Western Europe. The sales decreased by about 80 percent, and many real estate agents could not survive this.
Although the market hasn’t yet rebounded, Russian buyers have now replaced British ones. Property prices are almost 40 percent lower than they were at their peak in the third quarter of 2008. But the market is now a safer investment. The major advantage for the buyers now in the period after 2008 is that they can see finished apartments and houses before they buy.
WHO BUYS IN BULGARIA
Foreign buyers made up 15 percent of the market in the second quarter, up from 8 percent in 2009. Russians, accounting for about 80 percent of that group, are typically looking for a one-bedroom apartment or small villa near the Sea which they can use for vacations and rent out the remainder of the year.
THE PROPERTY is situated at a unique location, in the Village of General Kantardzhievo, on a sloping plot of land, high altitude and with a breathtaking view towards the Black Sea, which is only 7 km away. It has been designed by the Bulgarian architects Boryana & Jordan Stefanovi specifically for this location taking full benefit of the plot of land and the view towards the sea.
All rooms in the house have a view towards the sea and there are verandas and terraces in front of all rooms allowing the residents of the house to get the maximum out of the views. The total built-up area is 178 m² plus three verandas upstairs and two big terraces (40 m² + 20 m²) downstairs. There is a parking for one vehicle. The house was completed in the autumn of 2007 and has since been used by the first owners for short vacations only and never for rent.
The 1st Floor includes: a staircase with its high quality stainless steel railing provides access between the floors. There is a big open space with a sitting room, dining room and kitchen in one open plan.
Big windows provide great views towards the sea and double doors provide access to the 40 m² terrace with natural stone tiles. In the sitting room there is a heating unit connected to and providing heat for the radiators in the bedrooms on the 2nd Floor.
In the summer a split unit air-conditioner can be used. The kitchen furniture has been manufactured especially for the house and of a high quality. From the kitchen there is access to a laundry room and a small shower and toilet room. There are also a large storage room and a separate vast bedroom with its own 20 m² terrace with natural stone tiles.
The 2nd Floor is organized as follows: Via the front door is the entry to a small hall and from that into an open room with access to the three upstairs bedrooms and open view to the lower floor. Also from this open room there is a door to the veranda allowing uninterrupted view to the Black Sea.
There are three rooms, two so far used as bedrooms and one as an office. All of them have a door to a veranda, again allowing an open view to the sea. Available are a bathroom with a bathtub, shower and WC.
Specifications: The house has been built to German standards with high quality materials and high level of finish in all workmanship. Construction was supervised by professional architects and engineers. The foundation is with reinforced concrete. The external walls are of 25 cm concrete blocks with insulation, externally concrete plaster finish and natural stone cladding. The roof is made with structural timber and Italian clay tiles and has insulation.
All doors and windows are with high quality white PVC and double glazing with noise preventing insulation. The floors in the halls, toilets and staircase are of high quality tiles. The flooring in the bedrooms, sitting, dining and kitchen is laminated parquet. Walls in the bathroom, shower and toilet rooms are with high quality glazed terracotta tiles. The water and electricity supply is connected to the local municipality system. There is hot water in the bathroom, shower-room and kitchen from an electric water tank. There is a local drainage system with a septic tank and holding tank.
[simpleviewer gallery_id=”13″]