White Flower is another excellent Sofia property investment opportunity brought to you by europropertyonline and the Festa Development Group. This nine floor, large residential complex of 132 apartments is situated between Studenska (the university region) and Vitosha at the inter-section of two main boulevards in the city. It is also near to one of the main embassy regions of Sofia, opposite one of the cities largest park areas. Most apartments boast fantastic views of the Vitosha mountain with its night skiing and silver-crested peaks.

 

With a lack of high quality new apartments in the city, this development has excellent rental potential. The prices have been reduced to sell off the last batch of apartments which were pre-reserved by the developer, including one and two bedroom apartments, and two and three bedroom duplex penthouses.

 

These apartments are nearly complete and final completion (including finishing works) is expected in November. All apartments come with fully fitted kitchens and bathrooms, an underground garage and storage unit.

Situated only a 5-10 minute drive from downtown, there has been a high level of local interest in these apartments due to the location and the state-of-the-art design. The complex also sports a fitness centre and cafe / bar / restaurant in addition to the numerous shops situated at ground floor level.

 

The developers of White Flower, Festa Holdings, last year won the prestigious "Hotel of the Year 2005" for their "Festa Barcelo Hotel" in Sofia. Well known for their quality of finish and excellently located buildings, Festa Holdings hope to win similar awards with their residential buildings in Sofia and Bansko.

 

Why Sofia?

• The economy of Sofia is booming with unemployment at just 3%.

• The Sofia economy is growing faster than anywhere else in Bulgaria.

• The population has doubled in the last couple of years.

• EU membership of Bulgaria has brought an influx of diplomatic staff and multinational companies to the city.

• High quality property in up-market Sofia is in limited supply.

Why Festa Apartments?

• Award winning developer

• Excellent rental potential for long and short term lets.

• Strategically situated in an up-market area

• Amazing capital growth potential

• No development risk

• Estimated completion - November 2006

• Sizes to suit any budget from 70 mē to 402 mē.

• Fully fitted kitchen and bathrooms in the price.

• Priced from €844 per sqm. including VAT with a full notary price.

• Only 5 minutes drive from Business Park Sofia

• Only 5 - 10 minutes drive from downtown Sofia

• Only 10 minutes drive from Vitosha Mountain and the Ski lift

• Only 15 minutes drive from Sofia Airport

• Only 10 minutes walk to Sofia Zoo

• Only 5 minutes drive from Sofia Land Entertainment Park

• Schools, kindergartens, restaurants and parks within easy reach

• Free storage area

• Free Garage

• Full property servicing facility

• Fitness Centre

• Retail centre and restaurant facilities all on site.

• Furniture packs available

Building Specification

 

The apartments will be finished as follows:

• Living room: Walls and ceilings: Gypsum plaster, white latex, Floors: Granitogress tiles.

• Bedrooms: Walls and ceilings: Gypsum plaster, white latex, Floors: carpet

• Kitchen and Dining Room: Walls and ceilings: Gypsum plaster, white latex, Floors: Granitogress tiles. Built-in kitchen cupboards with all kitchen appliances.

• Balconies: According to the overall design of the building- cold resistant granitogress tiles with hydro-insulation underneath.

• Corridors: Walls and ceilings: Gypsum plaster, white latex, Floors: Granitogress tiles.

• Bathroom and WC: Ceilings: Whitewash Limestone plaster, Floors: Terracotta tiles, Walls: Ceramic tiles, All sanitary equipment installed.

• Doors: Front door: triple lock, adjustable steel-plated door; standard interior doors.

• Windows: PVC profiles and glass panel 4+4mm

• Electricity, WS&S Heating and Ventilation: Heating and Ventilation and WS&S are with PVC pipes, and Heating and Ventilation is metered. Heaters: Aluminium Panel heaters with thermostat valves.

The common areas (stairwells, landings and garages) will be finished as follows:

• Floors: Granitogress or marble tiles

• Lift: Control equipment according to the Bulgarian State Standard

• Walls and Ceilings: Decorative plaster or latex paint

• Entrance to the garage level: Automatic Door

• Garage Cell Door Metal, ceiling-slide door, manual opening. There is an option to have automatically opening doors (not included in the price).

• Garage Cell Floor: Concrete floor

Maintenance

 

The maintenance of the development is set at €14.40 per sqm. per year.

 

Property Management

 

Due to the large number of established and successful property management companies in Sofia, an on-site property management company is no necessary. You will have a choice of a large number of companies to work with in order to rent out your property. Our Sofia office can assist you with this.

 

Payment Terms

 

europropertyonline have a refundable reservation fee policy which enables you to hold an apartment for up to 30 days without actually committing to the purchase. This enables you to view the development and do further due diligence prior to signing your contract and paying your first instalment.  We will accept verbal reservations which are valid for 72 hours.

 

The refundable reservation fee is €3,000 and should accompany a signed reservation form which is available upon request. This reservation fee is deducted from your first instalment. After 30 days of receipt of your reservation form and cheque, the reservation fee becomes non-refundable. Should you wish to cancel your reservation within 30 days, we will only retain 10% of your reservation fee as an administration charge.

 

FIRST INSTALMENT - 40% upon signing the Preliminary Contract of Sale within 30 days of making your reservation.

FINAL INSTALMENT - 60% upon issue of Act 16 (completion) and signing the notary deed.