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News: Savvy investors courting Kavarna

Mon, 01 Oct 07

Kavarna is creating a new wave of interest amongst property buyers in Bulgaria, claims Obelisk International...

The region of Kavarna located on the northern tip of the Black Sea coastline will not only cater for the sun-sea-sand traveller but also the yachtsman, the golfer and the fishing enthusiast. Over the last few months Kavarna, as a resort, has begun to transform into one of the most attractive destinations for property investment and development. With only a 30 minute transfer time from Varna international airport and 38km from Romania, the Black Sea town of Kavarna is sure to become a popular playground for the tourist market.

The area will benefit from a proposed €15 million development of Bulgaria’s FIA approved Formula 1 racing complex, project managed by British company Berkeley Square Trading Limited. The significant level of inward investment is apparent, with the approval of plans to enhance Kavarna’s port into a new modern marina and yacht club specifically targeted to the luxury clientele.

Golfer’s paradise

Two golf courses which have been designed by the world famous Gary Player are currently under construction, one of which will be in the top five largest in the world. The mild climate in Kavarna is conducive to the construction of the golf courses and once they are complete the rental potential of the region will be phenomenal and yields are set to fly.

Andrea Elliott, Business Analyst at Obelisk comments ‘The economic success and the future vision for Kavarna is not speculative; €700 million has been invested in Kavarna within the last four years from internal and external investors.

“Many positive influences include mild weather conditions, excellent sporting facilities, quality developments and the close proximity to Varna airport, all of which enhance the areas investment potential dramatically. To the property investor this will mean the luxury of year round rental income and access to a very dynamic resale market.’

Modern and contemporary

This modern and contemporary town stands on an ancient site dating back to the second millennium BC, providing the tourist with a rich mix of history, art and culture. Reconstructed roads and infrastructure, well developed services and a fast growing economic and cultural mix is catching the attention of both the Bulgarian and foreign investors.

Kavarna is also one of the biggest agriculture producers in Bulgaria and lends itself to the possibilities of competitive production and attracting new employment, partners, creditors, and investors. A lot of Bulgarian, international and foreign partnership companies, with many branches already in operation, have invested heavily in Kavarna all boosting the areas economic conditions and consumer spending.

For more information visit http://www.obeliskinternational.com

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