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Fantastic Apartments for sale in Gallery Suites Complex
For sale 1 Bathrooms | Studios
€25,546

Submit Enquiry
Ref. No. SPBS0175
Status: For sale

City: Properties Saint Vlas
This property is included in the categories:
Studios - from 8500.00 €

Bathrooms 1

Size 33.38 sq.m.


Description

 

It is with great pleasure we present to you the new development of Gallery Suites. This luxurious small building, comprises of studios and one bedroom apartments all suited 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 holding numerous shops, restaurants and great night clubs is just 10 minutes walk from the building.

The region is developing at a fast rate being 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 of 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 sceneries.

To benefit most from the full 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 during the night. All owners of properties in the building will have a 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 loud night of bars, restaurants and discos it is very easy and cost effective to use the 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% at signing of preliminary contract 14 days after reservation (the reservation deposit is reimbursed against the first installment only)

Second Installment:

 

15% when shell construction reaches at the specific apartment level

 

Third Installment:

20% at roof level

Final Installment:

30% before the 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 construction guarantee for 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% from the value of the apartment. Also the value increase for the region is around 15-17%. To make this estimates more clear we prepared a simple example.

For the purpose 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 and here it is how the increase happens in the next 5 years.

 

Years

 

16% Value Increase

 

8% Rental Income

 

Total

 

After year 1

 

Ђ 54 520

 

Ђ 4 362

 

Ђ 58 882

 

After year 2

 

Ђ 63 242

 

Ђ 5 059

 

Ђ 68 301

 

After year 3

 

Ђ 73 362

 

Ђ 5 869

 

Ђ 79 231

 

After year 4

 

Ђ 85 100

 

Ђ 6 808

 

Ђ 91 908

 

After year 5

 

Ђ 98 716

 

Ђ 7 897

 

Ђ 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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