| Deal Price |
Total Area |
Total Cost |
| $ 52 sq foot |
16,538 sq feet |
$ 857,640 |
| € 450 sq meter |
1,537 sq meters |
€ 691,650 |
Summary
Lulin is a working class neighborhood of Sofia located approximately 15 minutes from the middle of the city. There are 10 “districts” in the area; this project is located in the second which is near neighborhood center. Lulin is one of the many outer parts of Sofia that were developed during Communist times by building clusters of large apartment blocks. The most appealing reason to invest in these areas is the supply and demand imbalance. There are tremendous numbers of local residents that have the means and desire to move out of there old apartment blocks into modern buildings; the key aspect being - they would like to stay in their same neighborhood near their family and friends. This deal involved the financing of a large portion of a project with local developer before construction begins. It is an example of the opportunities available to work with carefully selected, experienced builders who are able to handle all aspects of the development process. Financing of this sort offers the opportunity to invest at very attractive levels. Construction of this project began in the spring of 2006.
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