Beachfront Kavarna Bay Resort First Phase Launch

International property investors are today being offered an opportunity to invest in a choice of one and two-bedroom apartments and penthouses in the exclusive Kavarna Bay resort development located on Bulgaria’s up coming north-eastern Black Sea Coast.
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Enjoying over 40 kilometres of coastline and a myriad of excellent beaches, Karvarna sits in the Dobruja region which is home to prime ecotourism territory, just a stone’s throw from the preserved National Park and natural scenic beauty of Kaliakra cape, home to the Tirisis fortress and its sheer pink limestone cliff tops. The elevation gives the perfect vista point for sea and nature lovers’ alike, offering dolphin, seal and bird watching, or simply a daily spot of yacht gazing and the changing nature of the majestic Black sea coastline. Alternatively, those in search of rest and relaxation can enjoy the diverse panoramic vistas of the coast, or bath in the warm, gentle waters lapping at the wide, sandy beaches.

On the back of rising popularity of Kavarna neighbouring resorts of Varna, Burgas and Balchick. New build property development projects are steadily seeking out new resorts hotspots further along the coastline. Still just a 30 minute drive from Varna’s international airport which services a range of low cost airlines from a host of European destinations which has prompted a jump in passenger traffic levels. Destination maker or breaker Easyjet announced earlier this summer, autumn flights to Sofia in time for the ski season and is widely expected to launch a coastal route for next summer. Being a one of larger black sea coastal towns, Kavarna benefits from an extensive network of reliable transport links connected by a road passing through Balchik in addition to regular bus, taxi and even ferry services to and from nearby towns into Kavarna’s busy port side.

Over the past three years, the Kavarna municipality budget has increased four times an indication as to the significant level of inward investment the region is currently receiving, with approved plans to enhance Kavarna’s port into a new modern marina with yacht club along with extensive development to attract luxury clientèle. Already under construction are 3 PGA golf courses making this the only area on the Black Sea Coast that has three major golf courses, designed by world famous golf players, two by Gary Player and the other by Ian Woosnam. Also on the cards, is a €15 million investment towards the development of Bulgaria’s FIA approved Formula 1 racing complex potentially a lucrative source of tourism revenue for the areas coffers. Not everything about Kavarna heralds new beginnings,  in fact the town dates back to Thracian times when the area was dominated by ancient Greek fortifications and today the coast is dotted with old buildings and fountains dating back to the Ottoman empire. The regions rich underground waters are one of its treasures; the town’s Turkish Hammam has been fully resorted and its thermal installations tap into the areas precious mineral water resources.

Launched today, the Kavarna Bay resort offers off plan investors and international home buyers in pursuit of an upmarket overseas lifestyle purchase an attractive residential opportunity in a region widely tipped to become the most exclusive area on the Black Sea Coast and a centre for golfing and sailing.

Construction by a leading Irish developer, with an impeccable track record of successful real estate developing will ensure Kavarna Bay’s completion to the highest European standards in a timely and competent manner. Their ultimate goal is to create a strategically located front-line development, ensuring Kavarna Bay Resort combines a premium location, adding long-term value, well-appointed accommodation in a sought after setting enjoying a spectacular southerly orientation with un-paralleled terrace views.

The project, designed by internationally renowned, award winning, Sofia architect, Atanas Panov whose attention to quality and detail are his hallmarks, will feature nearly 700 apartments divided into clusters of 20 or 21 units completed over different phases, each with stunning views over the Black Sea to call their own, offering Bulgarian property buyers the epitome of beach front living.

Throughout the fully landscaped communal gardens with grass, shrubs, and trees on the 58,000 square metre plot, the Kavarna Bay complex incorporates a generous selection of neighbourhood facilities and on site amenities:

• Communal swimming pools
• Heated main pool
• Gymnasium with Health SPA
• Dive centre - a Scuba diving PADI centre, which has full teaching facilities and examination accreditation, and tuition and jet boat hire for water skiing available for all residents and visitors
• Restaurant/Bar facilities
• Underground and street level parking
• Direct access to sea via glass lift
• 24hr security and monitored video security system (CCTV)
• Commercial units along access road, plus a proposed Reception office, General store/ Supermarket and Newsagent.

As a reputable international real estate consultancy, Obelisk International prides itself on offering its clients a full turn-key package. In the case of the Kavarna Bay Resort, Obelisk has brought together Manzanares International lawyers who have undertaken detailed due diligence checks undertaken to international standards to ensure the developments complete legal standing, a highly regarded international development team and a customised, hassle-free furnishing package, exclusively designed to match the property’s interior furnishings to the high quality, contemporary finish of the overall project.  Finally, Obelisk have partnered with Home Care Property Management, a well-established company with UK, Spanish and now Bulgarian operations providing comprehensive property management programs to suit the entire spectrum of Kavarna Bay’s future owners from ongoing garden maintenance to welcome pack provisions for short term rental tenants.

A rarity in the Bulgarian beach front market, the spacious properties in the four-star Kavarna Bay resort enjoy the advantage of an extensive range of on-site facilities, presented together
in an exclusive real estate investment package.

The lifestyle value intrinsically placed on beach front properties will always ensure they command premium prices, not only for their geographic uniqueness, which offers built-in fantastic investment potential but should translate in the long term to higher resale values and greater rental demand. Fundamentally, buying front line beach provides the purchaser with peace of mind that nothing will be built in front of their property.

Upon launch, properties at The Kavarna Bay Resort will initially be marketed to clients at approximately 26% below current market value, these first available units come with inherent profit from moment of purchase presenting a profitable exit strategy for all investment scenarios whilst the expectations strong, ongoing rental yields of 6% look set to be secured by the excellent standard of on site facilities and the desirable high quality build specifications meeting the increased demand for luxury holiday property from wealthier German, Russian, British and Irish clientèle.

There are many that believe that Bulgaria has already had its day in the sun but year-on-year, tourism figures from the Bulgarian State Tourism agency are on the increase . Figures, which this year show a 5% increase between January 1 and July 31 2007, compared to the same period in 2006 equating to some 3 million foreign tourists, of which nearly two thirds were EU citizens visiting Bulgaria coupled with evidence of positive real estate data conflict with this school of thought. Prices of residential property in Bulgaria for the first three months of 2007 went up by 7.74 % compared to figures for the last quarter of 2006.

Pre-negotiated 70% mortgages are already in place in readiness for completion in September 2009 along with the Kavarna Bay Resort’s favourable 20-30-50 payment structure, which makes this an undeniably attractive real estate investment opportunity given the very best front-line units in the first phase launch of 183 premier sea view apartments start from just €67,900 VAT inclusive.

To reserve yours today click here for further details on Kavarna Bay or call Obelisk International for a complimentary project consultation on UK freephone 0808 160 0670 or Ireland 1800 932 514.