Makadi is an exciting development and Orascom’s reputation is reassuring in what is really still a very unstable time in construction and property markets and buying off plan during these uncertain economic times. There would be very few other off plan developments I would be prepared to enter at the moment.
The location set back from the sea is reflected in the price, I am very familiar with the Bulgarian costal property market and involved in the management of our complex there and the same is for large developments of hundreds of properties set back from the sea in Bulgaria, they are price reflected and none of them have the planned infrastructure of the Makadi development which is very impressive.
Makadi will be a town in its own right with a lot of infrastructure planned around it and close proximity to a quality golf course and not that far back from the sea and I am sure there will be some form of transport for people to get to the beach location as that is a business in itself waiting to happen transporting people to and from the actual coast so it is not like people have to walk miles in the heat.
I think for the money the property will represent really good value for buyers / investors and so on. I have not seen a better priced development for the size of property and it is very attractive as the sales are proving and I am happy with what I am seeing being built and the entry price that it was bought for.
Reading the posts of residential and tourist market for Makadi, I think that if it is a blend of both residential use and a tourist market that is perfect. Tourist developments solely have their draw backs as well and I think if Makadi caters for both, that is really good as it will give options maybe for long term rentals for people wishing to live there for even work reasons.
It is excellent value for a place of resident for people full time, or part of a year even and also excellent value for overseas holiday property buyers like myself and many others on this forum. The buyers have an idea what they are buying into, there could be holiday rentals if marketed correct and price is reflected.
My Bulgarian property is beach located, I timed it as a 4 minute walk and it is on 5 miles of beach and that is great. Also some people do not like the beach and are happy to be a few miles inland, so it is each to their own really. If there is a good transport link that would not concern me at all if I want to go to the beach area. I know of people who own in our complex who also own a few miles inland because they like the blend of both locations.
If there is a residential community that is good and will be interesting as well as an expat community and holidaying community who own and get to know each other over time from yearly holidays or going several times a year. Also with so many properties it is nearly too big to think that this will be solely a tourist development and in the future if people are interested in living there and the area around it develops well over the years that could open resale’s etc and not just from holiday home buyers.
Personally I think it is very encouraging what progress is being made with the building and the updates from buyers who have been over recently and I look forward to the completion of the property and watching it all take shape.
Just my two pence worth :top:
Cheers
Chris
