a cultural monument-House for sale in the smallest town of Bulgaria!

Location

Melnik is the smallest settlement classified as a town in the Republic of Bulgaria and is located in Blagoevgrad Province, in the southwestern Pirin Mountains, about 440 m. above sea level. The town is an architectural reserve and 96 of its buildings are cultural monuments.

The unique architecture of the place and the nearby Rozhen Monastery (located 6 km southeast of Melnik) make it a popular tourist destination for Bulgarian and foreign visitors. The town is also associated with the impressive natural sand pyramids in various forms, resembling giant mushrooms, ancient towers and obelisks, spread in an area of 17 sq.km. near Melnik, Kurlanovo and Rozhen. The town has also been famous for its strong wine since as far as 1346. The local wine was reportedly a favourite of Winston Churchill.

Description

We present you "Paskalevata Kashta" house - announced for a cultural monument, with a ready project for a fully reconstruction /the project is prepared by the National institute for the cultural monuments/.

The house is situated on a sheer southern slope in the town of Melnik. It has been renovated in the 60's, with traditional materials such as wood, stone, bricks, plaster, and is in good condition at the present moment.

Disposition: The ground floor is constructed in stone masonry and consist of two wine-cellars and a kitchen for the restaurant /total area of 233 sq.m./. The second floor is a hotel part /about 302.6 sq.m./ and consist of a saloon, encircled by rooms. Between storey construction is executed from wood trimmer joists. The inward connection the two levels is abolished. The ceilings are wooden, some of them with wood-carvings.

The project

The project for house renovation allows increasing the area of the house up to 800 sq.m /additional rooms, sauna, wine-cellar, etc./. The main aims of the project is to:

- recover and revive the saved authentic appearance of the building 

- to save and accommodate  the interior with the contemporary needs, according latest requirements.

The goal of the project is a VIP-hotel, with high comfort of residency and unique atmosphere, to be organized. An all this created by the architectural-historic specification of the house-memorial of culture with national significance from period of rebirth. For the successful reaching of this goal, the project envisages combining contemporary and cultural-historic requirements - for worth of the building.

Accents

• An attractive location
• A house monument of culture
• An approved project for house renovating

Construction type: Brick

Stage of construction: permission to move in granted

Heating: Local heating

Joinery: Wood windows

• Permission for use granted
• Planning permission granted
• Electricity
• Pipings
• Sewerage

Agent's valuation of the offer Very good!

Where is it possible to buy a property on your credit card? Bulgaria, of course!

With thousands of potential property buyers seduced by Bulgaria's bargain property prices, the temptation is to think that making a solid return is a no-brainer! For first time investors with small budgets looking for a step onto the property ladder, this seems like an opportunity almost too good to be true!  The result is that thousands of novice speculators and second homebuyers are flocking to Bulgaria to cash in on the investment opportunities it offers.

Until recently Bulgaria was a little heard of, little talked about country tucked away in a dark corner of the Eastern Block so what has changed?  Bulgaria's success in attracting thousands of property investors could be put down to two key factors. 

Firstly, the past two years have seen a decline in rental yields in many of Europe's more established property markets.  The UK, Ireland particularly are seeing rental yields drop to under three per cent.  Combined with the over inflated cost of property in these countries, the Western Europe investment market is a tough one to work.  This has resulted in thousands of investors, turning to Europe's emerging economies, seeking out markets that can work their funds more profitably.  Close behind them follow hundreds of amateur investors and holiday homes buyers ready to buy up the new properties being built by professional developers.

However, foreign interest in new markets alone doesn't explain Bulgaria's success. Investors seeking new pastures could in theory take their funds to any of the former Communist countries and many of them do.  The second factor that has attributed to Bulgaria mass appeal is its versatility. Bulgaria is such an attractive investment opportunity because it has something for everybody's tastes and offers the investor and holiday homebuyer plenty of choice.  Right now dozens of new developments are springing up along the beautiful Black Sea coastline and sun soakers from all over Europe flock to Bulgaria for cheap and affordable beach holidays!  Further inland, Bulgaria's main ski resorts have become some of the most fashionable in Europe, particularly Borovets and Pamporovo.  Top quality ski chalets, hotels and complexes are being built to facilitate the new influx of European skiers, all at amazingly affordable prices.  A ski chalet in the centre of Bulgaria's ski resorts can be bought for a quarter of the price of a similar chalet in France or Italy.  Finally, the natural beauty of Bulgaria's mountain ranges and valleys has made it an appealing location for walking, cycling and adventure holidays.  From the cosmopolitan appeal of Sofia, the country's capital, to the small villages of the Rhodope Mountains, Bulgaria has something to offer every taste at some of the most affordable prices in Europe.

Two or three decades ago, Spain was experiencing the type of interest that Bulgaria is receiving now.  With the rise of the foreign holiday as a luxury the masses could afford, Brits began to flock to sun soaked Spain.  Their interest promoted an influx of developers who took advantage of Spain’s popularity with tourists and built affordable holiday homes. This encouraged many of the tourists to invest in their own little piece of paradise, with the advantage of being able to extend their own stay and encourage others in by letting their property. The result over the years was a continuing rise in property prices but also a strengthening tourist economy, a well-developed infrastructure and growing opportunities and financial benefits for native Spaniards.

Property prices in Spain are now so high that buyers are forced to look for cheaper alternatives.  In turning to Bulgaria, the cycle will begin again.  In fifteen to twenty year's time, the Bulgarian property market may well be over-priced for second homebuyers and once again the search will begin for new and cheap destinations.  In the mean time Bulgaria will have grown on the strength of its EU membership. It will have pumped millions of euros into improving infrastructure.  Tourism will have generated huge amounts of wealth for the economy and the poverty that characterises the country now may well be very much a thing of the past!

So while Bulgaria is proving to be a wise investment option with some properties offering up to 80% capital appreciation in one year, it is still necessary to be very cautious when choosing where to invest.  Property prices are rising significantly but largely in the more established and more desirable tourist hotspots.  Investing along the Black Sea coastline and areas within 10km of the two major ski resorts, Barovets and Pamporovo, is likely to yield a healthy 60-80% capital growth in one year.   Buying a new apartment in these areas can cost as little as EUR 30,000 and is likely to be solid investment, since they can be easily let to the increasing number of tourists coming to experience the delights of Bulgaria.