Property in Sofia

[Justin Muscat]

"City of Fountains" and "Central Park" Sofia

Hi there,
If you have invested in property in Sofia on the projects "City Of Fountains" or "Central Park", I would be very interested to hear your veiws on how the projects are moving along and, if you have confidence in the builders. They are both nearing their contractual completion dates but, the reality is not so encouraging. Has anyone tried to get their investments back? Has anyone been to see these developments recently?

 

[Ashcon]

Central Park

Hi Justin,

I drove past Central Park last week, I have not purchased there but I was on the highway to Sofia and I noticed it, it looked to me at shell stage with some painted walls I think.

I know some people who live in Bulgaria not too far from Sofia and I will ask them if they can get some photos and have a proper look when they can and I will let you know.

Most buildings in Bulgaria are not ready on time, some can be 2 or 3 years late !!! even without the recession

Hope all goes well for you.

Ash

 

[Justin Muscat]

Hi Ash,

Its good of you to reply and thank you for that! My partner has just been over and, as you rightly say, it is not finished and nor will be finished until after 3 months after the date at which point they have to, by contract, refund our money with a five % increase. If anyone on this site is thinking of buying in "City of Fountains" then my advise is to wait and see if they honor this contract. If they do not, which I suspect will be the case, I would recommend you steer well clear of this project.
I will post my movemnets on this site!

 

[Ashcon]

Central Park

Hi Justin,

Dwane has kindly sent me this link to his blog, you can see central park photos among others

BG-Interiors Blog

He said it is near completion though, with lots of workers on site

Hope this helps you

Ash

 

[Justin Muscat]

Hi Ash,
Really helpful mate - thanks. Do you have any contacts who may know about the development in Sofia called City of Fountains please? I know that they will not finish on time and, contractually, we are entitled to a full refund plus 5%. We have lawyers on the case to see if the developer - Karrat Group, have assets. I know that they have built several other projects in the sea side areas! Many thanks once again!

 

[Ashcon]

Central Park

No Probs,

I will ask Dwane & Michelle, they are my only contacts there.
Good luck with trying to get your refund, not an easy task by any means in bulgaria

Ash

 

[Lars]

City of fountains

Hi!

I have also purchased a apartment in City of Fountains.. I checked with my lawyer in August regarding the finishing of the project. He said that the CoF project was waiting for permission for the connection of water etc.

Building 2 has ACT 15 do, and I received a confirmation of ACt 15 for buliding 1 a few weeks ago.

Which buliding have you purchased in, and are you UK?

Lars

 

[Justin Muscat]

Hi Lars,

Thanks for your email. I have bought in Buidling 6 and my partner who is a builder, informs me that they expect the works to be finished in early summer which will be past the contract date! He recons it could take even longer then what they say. We are now in contact with a lawyer to start the work on getting our money back! Do you know of anyone else there that has tried to get a refund? I am sure that it will be difficult but in terms of the contract it is very plain to see that they are bound to return our money. Lets see what they do!
Regards,
Justin

 

[Lars]

Hi Lars,

Thanks for your email. I have bought in Buidling 6 and my partner who is a builder, informs me that they expect the works to be finished in early summer which will be past the contract date! He recons it could take even longer then what they say. We are now in contact with a lawyer to start the work on getting our money back! Do you know of anyone else there that has tried to get a refund? I am sure that it will be difficult but in terms of the contract it is very plain to see that they are bound to return our money. Lets see what they do!
Regards,
Justin

Hi again Justin,

Could you please email me, so we maybe can talk more on the email.

Contact me on: e_gundersenAtHotmailDOTcom

In case you would like to email me, I will respond from my personal email and not the hotmail I have attached here. (Try to avoid spam)

Thanks!

Lars

 

[esther776]

I bought an apartment in central park sofia 1

Hello all,

we bought a one bedroom apartment and a studio in Central Park 1 in Sofia. We have already transfered the property in October and it seems that all is Ok. We are now looking for further information regarding the possibilities of renting them, by a private agency, etc.

I would like to find someone how has bought in the same complex to share oppinions, pictures, etc.

Thanks in advance for your help.

Esther

 

[andrewsmith]

I have not yet invested in the property you mentioned but I am quite interested to be a part of this property!

 

[ge_or_gi]

Hi All,

I have been at the Central Park Complex (near the high way) mid of December, regarding furnishing some apartments in block 7.
The complex was almost finished, just the last building was not completed. The infrastructure was fully finished, the roads and green area.

If you need more information contact me at:
info[at]bulgarian-funriture.eu

 

[PROPERTY FORWARD]

Established property in sofia

as with many cities Sofia saw quite a large number of new build properties in various districts aimed at professionals, families and the investment speculators.

I have always been interested in more established resales , especially apartments and flats in older buildings.. I remember a few years ago seeing older apartments for sale in Prague at really good prices, Just wonder what the relale of more traditional properties in Sofia is like.. Perhaps for a future bolthole.. short term let etc.