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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
The Poynte: The Project
The Poynte will consist of 68 units on varying plot sizes. All villas will be of the same size and will comprise 3 bedrooms and 2 bathrooms. All of the villas will be detached and will have a balcony on the first floor, with a terrace on the ground floor and will include fitted cupboards in each bedroom. Each plot will come with a private parking space and pool as standard. All villas will have a sea view. The site will enjoy complete privacy due to its restricted access and will be planted throughout with 
landscaped gardens.
Around €30 million is being spent on the development of 2 golf courses in Varna and its nearby region, which will help boost tourism as well the real estate rental market
The initial resale price of a villa in The Poynte is estimated to be £120,895, which represents an initial profit of £35,254, coupled with a consistent 20% per annum capital growth, The Poynte allows investors up to 140% net gain over a 3 year period.
The Poynte offers both the flip investor and the buy to hold investor excellent potential - the potential short-term gain of 242% (profit relative to investment of £21,975) suitable to flipping whilst the investor using a buy and hold strategy would stand to make a profit of £123,266, based on the same growth rate, giving a return on investment of 144%.
Investment Potential
Bulgaria's economy has flourished substantially in recent years and those investing in second homes have been among the principal beneficiaries. Tourism is racing upwards, with the number of tourists from Britain and Ireland visiting Bulgaria rising by 36 per cent and 124 per cent respectively in recent years.
This rapid increase in tourism, coupled with the rise in Bulgarian property prices, has meant that the demand for second homes and holiday rentals is set to grow at an impressive rate over the next few years, especially now that the country has joined the EU. Bulgarian residential property prices rose by nearly 8 per cent in the first quarter of 2007 compared to the last quarter of 2006.
Albena has modern architecture and a youthful image. It is one of the purpose built resorts on the Bulgarian Black Sea coast and has a uniform and unique architectural style. Albena is located close to other tourist, cultural and commercial centres and at the same time remains within well-preserved, natural surroundings. It has 7km of beach and offers the same wide range of sporting facilities as Golden Sands. The development is situated approximately 15minutes away from Varna city by car, where there is a range of attractions.
Varna and its surrounding region are currently undergoing a major transformation. Many of the investment projects are set to make this part of Bulgaria not only an even more exciting and prosperous place to visit, but also to reside in. Gary Player, the world-renowned golfer and the sport's first great international ambassador, has designed 2 high-class, seaside golf courses on the Black Sea named the Black Sea Rama. A total of €30 million has been invested in these facilities, one located near Varna and the other near Balchik. The golf resorts will be massive on completion, with onsite villas, apartments, shops and marinas.
The demand for renting properties is increasing rapidly throughout the whole of Bulgaria, particularly along the Black Sea coast, with approximately 78 per cent of tourists visiting this region. The expected rise in tourism and investment in the development of Varna and its neighbouring towns will only lead to a strengthened rental market.
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