Bulgaria - Pamporovo
The Stream Resort, Pamporovo
Overview
The Stream Resort hosts a wealth of facilities including Reception with lobby bar, restaurant, swimming pool, Wellness and Spa Centre to cater for the 70 fully furnished apartments. The Stream Resort is the highest quality development in the resort of Pamporovo and offers Studios, one and two bedroom Apartments and Duplexes. All the apartments will be completely furnished and ready for use by the owners, or for renting. The resort also offers easy access parking holding up to 25 cars both at the front and the rear of the resort.
The resort lies in an incredibly scenic nature reserve, which hosts some of Bulgaria's most beautiful greenery and wildlife. The beautiful surroundings offer unrivalled views along with the pine forests, mountains and the stream.
Owners and the guests can also benefit from the wonderful landscaped gardens with sheltered barbecues and an open-air kindergarten.
The Steam Resort has been developed in the traditional Bulgarian design, whilst at the same time offers the benefits of comfortable modern living.
The Stream Resort is ideal for holiday letting during both the ski season and summer holidays, with a guaranteed rental package of 6% for 4 years at completion.
When designing the resort, the Developer paid particular attention to the Wellness Centre and Spa, hiring two European specialists to design an area, which is relaxing, refreshing and invigorating. Research has shown that wellness facilities are considered one of main draws for holidaymakers when choosing their resort.
The facility is specially designed to help you ease the aches and pains of the day, to get you ready for the next day on the mountain!
Strongly influenced by the Aegean and Mediterranean Seas, the climate in Pamporovo includes a soft winter, with about 120 sunny days during the skiing season, which lasts from mid-December to mid-April with an average air temperature of -3 degrees centigrade.
With its rounded slopes and summits, Pamporovo is recommended for both beginners and experts alike. All ski runs are maintained in excellent condition, from the nursery slopes to the Giant Slalom, the latter being for experts only! In this region nature does not change its moods abruptly, meaning there is no danger of avalanches, thus guaranteeing the tranquillity and safety of your vacation.
The development is only 250 metres from the main ski lift, 1450 metres above sea level. More than 100 highly qualified ski instructors, fluent in many different languages, are here to teach both beginners and intermediate skiers and snowboarders. Ski rentals are available near the ski runs and the lift stations; you can also hire ski equipment and book instruction through the resort itself.
Pamporovo ski resort is about to experience a tourist boom, with plans to allow budget airlines to fly into Plovdiv, the second largest city in Bulgaria and only a 45 minute drive from the Rhodopi Mountains. There also plans to connect the three resorts of Pamporovo, Mechi Chal and Golyam Perelik, to form the "Three Peaks" for skiing.
Less than 10 minutes from Pamporovo, nestling amongst lakes and cliffs, lies the traditional Bulgarian village of Smolyan.
Considerable effort has been expended to offer a package, which suits both the prospective home-owner and the investor alike. The Stream resort is beautifully designed and is located in a stunning location.
COMPLETION DATE: November 2007
The Rental Programme
The Stream Resort has signed a contract with Mortgage and Rental Agents Credo Consult for the Rental and Management of the entire development after its completion.
Credo Consult will run various advertising campaigns in local and international media, the Internet and affiliated networks. They have also teamed up with leading Tour Operators and Travel Agents to promote The Stream Resort, thus guaranteeing the highest possible occupancy and providing a good return on your investment.
Project Investment Points
- 70 apartments comprising studios, 1 bed & 2 bed
- Superb rental guarantee of 6% for 4 years
- Excellent pricing, ranging from £35,428 up to £108,133
- Initial deposit on exchange of contracts as low as £10,628
- Mortgages available on completion
- All apartments are fully furnished, the cost of which is included in the price
- VAT paid by Developer and declared in full on the Notary Deed
- Re-sale programme in place so you can sell before completion
- Full legal service provided
- Rental management offered by Credo Consult Rentals
- Summer AND Winter rentals
- Highest quality apartment resort in Pamporovo
- Wealth of facilities including bars, restaurant and Wellness Centre with Spa
- Only 250 metres from the main ski-lift at 1450m above sea level
- 45 minutes from Plovdiv airport, soon to take international flights
Reasons To Invest in Bulgaria
- Bulgaria is an emerging market with a booming economy
- Property prices are still very low, but rising sharply
- In 2003, an average new-build property price was 650 € per square metre; now it is more than double
- The diverse geography and climate allow both Ski and beach resorts
- The general cost of living is one of the cheapest in Europe
- Set for EU membership in 2007
- Bulgaria is a stable economy. In 1999 it was tied to the Deutschmark and has subsequently tracked the Euro
- Wizzair is already serving Bulgaria, and other budget airlines are set to follow. Only 3 hours flight from the UK
- The country has seen huge investment from Germany, Scandinavia, Russia, Greece, UK and Ireland
- Road links to Western Europe are to be improved by investment in major motorways in the north and the south
- With Golf, Skiing and beach resorts, Bulgaria is developing a 12 months tourist season
- Already strong tourist business from Greece, Germany, Scandinavia, UK, Turkey, Russia, Czech Republic and Ireland
Location
It is some 240 kilometres from the capital, Sofia, and just 85 km, approximately 45 minutes from Plovdiv Airport, which will soon take international flights.
Wizzair is already serving Bulgaria and other budget airlines such as Ryanair are set to follow. The flight time from the UK is approximately three hours.
Floorplans
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| FLOOR PLATE - A | FLOOR PLATE - B | FLOOR PLATE - C |
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| FLOOR PLATE - D | FLOOR PLATE - E | FLOOR PLATE - F |
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| FLOOR PLATE - G | FLOOR PLATE - GM | FLOOR PLAN - B1 |
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| FLOOR PLAN - B2 | FLOOR PLAN - B5 | FLOOR PLAN - B6 |
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| FLOOR PLAN - C1 | FLOOR PLAN - C5 | FLOOR PLAN - C8 |
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| FLOOR PLAN - C9 | FLOOR PLAN - C11 | FLOOR PLAN - C12 |
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| FLOOR PLAN - D3 | FLOOR PLAN - D4 | FLOOR PLAN - D5 |
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| FLOOR PLAN - D12 | FLOOR PLAN - D13 | FLOOR PLAN - 14B |
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| FLOOR PLAN - E1A | FLOOR PLAN - E1B | FLOOR PLAN - E6 |
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| FLOOR PLAN - E9 | FLOOR PLAN - E10 | FLOOR PLAN - E12 |
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| FLOOR PLAN - E13 | FLOOR PLAN - E14B | FLOOR PLAN - F7 |
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| FLOOR PLAN - F11 | FLOOR PLAN - F12 | FLOOR PLAN - GM4 |
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| FLOOR PLAN - GM5 | FLOOR PLAN - G7 | FLOOR PLAN - G8 |
All the Apartments have great Mountain Views, depending on their directions:
- East - surrounding hills and pine forest, very quite
- South - East - great view on Snejanka peak and the ski slopes
- South - West - great view on Snejanka peak and the ski slopes
- West - The Stream Resort park area, stream, and surrounding hills
- North - West - The Stream Resort park area, stream, and surrounding hills
- North/West/East - the most quite and surrounded by pine forest, wonderful view to the stream flowing just in front of the building
Project Facilities
The resort also offers easy access parking holding up to 25 cars both at the front and the rear of the resort.
Features:
- 24 hour Reception & Concierge
- Lobby Bar
- Traditional style Bulgarian Restaurant
- Shop & Laundry
- Ski & Boot Wardrobe
- Baby Sitting service available during the season
- Indoor heated swimming pool & Jacuzzi
- Wellness & Spa complex & Fitness Room
- Children's playground
- Barbecue
- Secure parking area
- Private Park with an ancient stream
All property in The Stream Resort will come fully furnished to the highest standard recommended by some of the leading rental companies in the industry. All furniture packs will include TV, Music System, Kitchen Appliances including cutlery and electrical items. Sheets, bed linens and towels will also be included in the packs.
Property owners will be able to choose from a selection of two style of furniture, with different colors and materials.
The Wellness & Spa Centre
- Reception
- Indoor heated swimming pool & Jacuzzi
- Finnish Wood Sauna & Aroma Stone Sauna
- Herbal Steam Room
- Cold plunge pool & cold shower
- Salt relaxation room with water beds
- Two Massage rooms
- Fitness
- Changing Rooms
- Showers
On Site Management & Maintenance Service
- Organisation of the internal order of the building & common parts
- Technical maintenance of the common installations & equipment
- Outside security of the complex
- Cleaning & hygiene service of the complex & common parts of the building
- 24-Hour Reception
- Apartment cleaning, linen & towels change, replenishing supplies
- Maintenance Fee 7 Euros per sq.mt per annum
Price and Payment Terms
| Property Type | GBP | EUR | USD |
|---|---|---|---|
| STUDIOS STARTING FROM | 31,180 | 45,523 | 62,360 |
| 1 BED APARTMENT STARTING FROM | 41,110 | 60,020 | 82,219 |
| 2 BED APARTMENT STARTING FROM | 70,211 | 102,508 | 140,422 |
| DUPLEX STARTING FROM | 97,647 | 142,565 | 195,295 |
| Installment | Percentage | Expected Date |
|---|---|---|
| Deposit | £700 | On Reservation |
| 1st Installment | 20% | On signing preliminary Contract (within 21 days) plus Legal fess of 950 Euros |
| 2nd Installment | 20% | On completion of the roof - May / June 2007 |
| Final Installment | 60% | On Completion |
Maintenance Fee: 7 Euros per square metre per annum
Payment and Reporting
- Rental guarantee of 6% net for 4 years
- The total money flow is calculated for all apartments at The Stream Resort. The amount of all costs made and due for the payment of water, electricity, insurance, resort fee etc. shall be deducted from the total amount
- Payments to apartment owners are executed every three months - fees and reasonable expenses or liabilities incurred to reinstate the property to a condition appropriate to re-let the premises at its advertised standard are deducted from the amount
- Afterwards the amount corresponding to a particular apartment which should be forwarded, is calculated on apartment type basis (studio, single-bed or double-bed apartment) depending on the apartment area
- Payments are executed to the owner's Bank account in Bulgaria or abroad
- Management report - detailed report on the occupancy and the money flow shall be issued and sent upon execution of a payment
It is not a legal requirement to use a lawyer when buying a property in Bulgaria, but it is strongly advisable to use an experienced and respected lawyer when buying property abroad, whether in Bulgaria or any other country.
A good experienced lawyer can be hard to find and it is for this reason the Developers use Yankov & Co. Law Firm. They are one of the most experienced and credible law firms in Bulgaria. Their leading lawyer Kolyan Yankov is a respected corporate lawyer with an experienced and hardworking legal team specialising in property purchases in Bulgaria.
What do they charge?
Most legal companies generally charge 1% or a minimum of £1500 for legal work on Bulgarian property. The Developer has agreed with Yankov & Co a standard fee of €950 for all the legal work from start to finish.
What does this fee cover?
The legal work carried out by your lawyer is essential when buying in Bulgaria. First of all, the developer needs to be checked out to see if they have the correct planning permissions, building licenses etc. The preliminary contracts need checking to make sure that your interests are looked after and that the contract is water tight.
You can contact Yankov & Co 6 days a week from 9am till 8pm. They won't charge for questions and will advise on a whole range of subjects from buying residential to commercial property.
For Further information, please complete this form and we will get back to you.