A wise man once asked ‘ If we were meeting here three years from today - and you were to look back over those three years to today, what has to have happened during that period, both personally and professionally, for you to feel happy about your progress ? '

There is no doubt that the economic turbulence and credit crunch around the world has prompted Investors to hedge their bets and look at alternatives to their traditional markets. Of the emerging markets, Bulgaria is taking centre stage, and it has all it takes to provide probably the best investment solutions to diversify your personal portfolios' risks and low growth returns (or negative ones).

In 2007, the US housing market crashed, and hence Europe's housing market, particularly in the UK, housing market slowed. However, the new members of the EU, Bulgaria being the best performer, gained momentum as well as some Asia - Pacific markets, such as China (Shanghai).

Varna, definitely within the positive growth rates, perhaps the strongest sub-market in Bulgaria. Some of the reasons are:

- Its population almost tripled within the last fifteen years (nearly 1m at present), and together with Sofia, they are the top two options from locals (and young professionals) to relocate due to the job offers; unemployment rate is what we call ‘healthy', below 5%, and the salaries in these two cities show a big increase over the last five years. That is important for the real estate market, as it strengthens the residential side of real estate in Varna; which it's not only a holiday destination (below we present further reasons why Varna can be a great place to reside too).

- In addition to the above point, what has boosted further the property prices in Bulgaria recently is the development of the Banking system - Leverage - what a great tool for the investment ! One of the Partners of Best of Bulgaria, Mr. Andreas Kasioulis, remembers the ‘old times' and the early days of the expansion of Best of Cyprus to Bulgaria (Varna), back in 2003, where banks nearly didn't know what that means ... Today, we are proud to introduce to our clients, the mortgage packages we have from different local banks:

Interest rate: 6,25%
Repayment Period: 15 - 20 yrs (up to the 65th year of age)
Collateral: the apartment itself (or villa, not and)

- Further, the diverse economy of Varna, which offers the second biggest port on the Black Sea, International Airport with direct flights from various European countries (Gatwick airport too), growing developing industry, various factories on the outskirt of Varna, the tourist industry is booming with nearly 3m tourists visiting Varna between May - October, Warehouses and other businesses etc. It is also worth noting that many off-shore companies are looking into having premises and this is probably the reason of the seven shopping malls/ biz centres which are under construction at the moment !

- University city, Varna offers a choice of Universities (also English speaking) making the place more diverse with lifestyle options.

- Tourist Resorts: just picture for a moment, a city with one million population, hidden in green forest and parks along a golden coastline with beautiful beaches. Golden Sands, Albena, Kranevo and St. Konstandine & Elena are some of the most well known coastal resorts all within 25km radius from the centre of Varna ! It is definitely worth seeing, together with the ancient monuments the place offers and the diverse cultural activity.

Many economists see Varna as the forthcoming economic centre of the Balkan region. The potential of real estate is enormous and we believe the booming is just starting to appear.

Taking into a consideration the above parameters and figures, let's look at the return some of our clients have made over the last 3 years:

Back in 2005 (September), the first project of Best of Bulgaria was released in the market, selling for:
€550 per sq.m. ! Today, the project is just delivered, priced at: €1100 per sq.m. ! (Note: a bank evaluation conducted in May 2007 appraised the units for €1000 per sq.m. and just recently for €1200 per sq.m. ! )

Thus, we have the following parameters:

(Note: an average 1-bed apartment is 55sq.m. in the project Kranevo Paradise Gardens I)

Price on Year: August 2005: 55 x €550 = €30,250
Price Today (May 2008): 55 x €1100 = €60,500
Mortgage Taken (Max): 75% ; interest rate 6,25% with 20 years repayment period

What is the equity return?

Sales Price € 60,500
Less: mortgage € 22,688
Plus: interest € 4,254
Balance: € 26,941
Profit: € 33,559

Return on capital = € 33,559/€ 7,562.5 x 100% = 444% 
                                                                    = 344% profit

In addition to the above return, the Rentals department of our company, can increase further the profits with the addition of rental returns. For all projects available and services offered by Best of Bulgaria Property Developers, please take a look at our website: www.best-of-bulgaria-property.com

Further, let's look at one of our company's prime located projects: Jewel of Kranevo.

Jewel of Kranevo, is the pride of Best of Bulgaria, and here are some of the reasons why:
- 210 stylish one, two and three bedroom apartments plus 2 and 3 bedroom duplex apartments from approximately €69,200 including VAT (currently in Bulgaria: 20%)
- Superb location between two popular tourist resorts, Golden Sands, probably the best resort in Bulgaria, and Albena
- Kranevo is an upcoming tourist resort ad is becoming increasingly popular ; recently Albena announced its plans for the construction of an 18-hole championship golf course, and there are also plans for a Marina in Kranevo)
- Long sandy golden beaches, magnificent scenery and all the attractions and facilities you could ever need
- Fully managed development with the option of renting out your apartment
- Only 20 minutes from Varna and its International Airport
- 5% rental guarantee
- High capital growth estimated

Features at a glance:
- High quality apartments featuring stylish design and top quality finishes throughout
- Extensive parking areas with a gated entrance
Five Star Communal Facilities At Off-Plan Prices:
- Large outdoor communal swimming pool
- Indoor heated communal swimming pool
- Children's' pool
- Restaurant & bar
- Gym with sauna
- Jacuzzi
- Spa Centre (probably the biggest in Varna district!)
- Parking & Storage
- On-site management & maintenance with VIP After-sales services
- Rental Service (5% rental guarantee)
A great investment opportunity for permanent residence, a holiday home or renting out !
Five Star Development At Off-plan Prices
Ground floor from €69,200
First floor from €67,950
Second floor from €69,000
Third floor from €75,400
Fourth floor Penthouses from €269,300

Profit forecast
Bulgaria leads the world, as the above table describes, with house prices rising more than 30% on average annually.
Kranevo Jewel is located in the heart of Kranevo, within 300m from beautiful sandy beaches, surrounded by hotels, restaurants and all amenities. Combined with the establishment demand for vacation rental accommodation, and the infrastructure projects (18-hole golf course a couple of hundreds of meters away and probably a marina) in the immediate area, the locality has experienced some of the strongest capital growth of any resort on the Black Sea. Momentum to prices is definitely added up by the expansion of boundary limits of Varna, which both its population and economy experience a phenomenon escalation. Property values within all developments of Best of Bulgaria have effectively doubled within the last 2 ½ years due to the booming of the real estate market in Bulgaria, location's growth, and most of all Pricing Strategy Best of Bulgaria has in place. A continuing growth of at least 25-30% per year is a realistic expectation for this development; we have undoubtedly reasons to say that Bulgaria property market is just at the start of the booming!

One bedroom profit forecast
The following information illustrates how a one bedroom apartment bought for €67,950 could increase in value over a five year period - doubling your money in just 2 ½ years !

Two bedroom profit forecast
The following information illustrates how a two bedroom apartment bought for €97,500 could increase in value over a five year period - doubling your money in just 2 ½ years !

We look forward to see you soon; our Inspection Trips package can make it be sooner!
(http://www.best-of-bulgaria-property.com/inspection-trip-form.php)