VIL477

It is with great pleasure we introduce Gallery Suites. This luxurious small building comprises of studios and one bedroom apartments all suited for the high end Bulgarian property market.

Supporting files:

• Price and availability list - 12.7.2008 (download)

Floor Plans

• Ground Floor
• First Floor
• Second Floor
• Third Floor
• Fourth Floor
• Fifth Floor

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. Please click here to see some of the panorama in the region.

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 percents at signing of preliminary contract 14 days after reservation (the reservation deposit is reimbursed against the first installment only)

Second Installment:

• 15 percents when shell construction reaches at the specific apartment level

Third Installment:

• 20 percents at roof level

Final Installment:

• 30 percents 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 percents from the value of the apartment. Also the value increase for the region is around 15-17 percents. 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 percents Value Increase 8 percents Rental Income
After year 1 - 54520 4362 58 882
After year 2 - 63242 5059 68 301
After year 3 - 73362 5869 79 231
After year 4 - 85100 6808 91 908
After year 5 - 98716 7897 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 106613 in 5 years time. The gross return on investment is (106,613 - 47,000) = EUR 59,613. That is a 127 percents increase!