Stoikite House Stoikite House is set in in beautiful surroundings and is a modern building designed with traditional Bulgarian features; it consists of 13 apartments all of them enjoying superb views.
Stoikite Location
Stoikite lies in the south of Bulgaria in the very heart of the Rhodoppi Mountains it offers breathtaking panoramic views of the ridge of Chernatitza and the peaks of Murgavetz, Perelik and Kurluk.
Access
 Many charter flights are offered by several operators from the UK to Plovdiv. Plovdiv is only a short transfer distance into the heart of the Rhodopies. Easy Jet have announced they will be flying a new low cost route from the UK into Sofia airport in the capital which also serves the region and has scheduled and charter flights.
Winter Sports -Skiing
The climate is perfect for winter sports with snow for four months of the year, catering for skiers, snow boarders and other winter activities. There are four grades of skin runs from beginners to advanced on the beautiful slopes of the local resort of Pamporovo.
Summer Mountain Sport
Stoikite enjoys 249 days sunshine a year. This makes it perfect for summer letting. Some of the activities which can be enjoyed include walking, horse riding and mountain biking. There are also excellent fishing opportunities to be found in seven nearby lakes of this beautiful region, or even take a drive south to the adjacent Greek coast.
Entertainment
There are many local bars and restaurants in the region offering fresh and varied cuisine with the cost of a bottle of wine less than a pound, celebrating is a pleasure.
Smolyan "the Orpheus Pearl" hosts a history museum, arts gallery and a cinema. Banite has warm mineral springs, there are numerous caves and gorges to explore including Dyavolsko Gurlo cave, with a unique 42 m high waterfall. There are also monasteries such as Batchkovo and the fortress of Assen.
 Apartment Specification
All apartments have electrical heating, smoke detectors, double glazing, fitted kitchen units, shower room, bathroom in the larger 2 bed apartments, laminate wood flooring, tiled flooring in the kitchen, wood burning fireplace, socket points for TV, telephone, access to parking area and shared jacuzzi.
- management contract to ensure and maintain high standards 10 e per sq metre
- rental letting service if required by Bulgarian letting agencies
- furniture pack from 1700 e
- additional storage space available for ski equipment from 2500 e
- One and a half hours from Plovdiv International Airport
Investment Potential
The apartments are situated close to a new ski lift that has now started to be built, the picture above shows the excavation in the hillside. The ski lift is expected to be completed before Stoikite house is completed. Prices have now increased to reflect this.
Announcement from IBA 19 th May 2005
“InvestBulgaria Agency (IBA) issued a First Class Investment Certificate to “Perelik – Sports and Tourism Centre” EAD, Smolyan.
The document has been officially awarded by Mr. Stoyan Stalev, Executive Director of InvestBulgaria Agency to Mr. Kiril Assenov, Chairman of the Board of Directors of “Perelik – Sports and Tourism Center” EAD, Smolyan.
The investment plan of the company provides the construction of equipments for winter and summer tourism. The infrastructure in the whole Smolyan region will be improved. The resort will include ski facilities, equipments for artificial snow, 24 ski lifts, parking places, as well as many hotels. The complex will offer winter ski tourism, summer mountain tourism ( tracking, mountain biking, tennis courts, swimming pools ). It is also planned building of a golf course. The whole distance of the ski run will be over 55 km. The company will plant 35 - 40% more trees than it will cut down.
The investment plan of “Perelik – Sports and Tourism Center” EAD, Smolyan will be financed by Bulgarian and international institutions and it provides total investments over EUR 255 million euro. The investments for the first 3 years will be over EUR 94 million. The construction work will start during the autumn of 2006.
400 permanent employees are expected to be working for the company at the end of the first 3 year period and about 3300 will be the total number of created jobs with the completion of the project
The resort will be built close to the villages of Smolyan, Stoikite , Gela , Solishta, Stikul and Mougla. The team behind the development say they are reliant on the Bulgarian government to dramatically improve roads and other infrastructure to the resort site”
Other Investment Factors
Euro Zone Membership
Bulgaria ’s currency, the Lev, is already pegged to the Euro, however it is expected that Bulgaria will adopt the euro in 2009. This could lead to inflationary pressures which may filter through and boost the property market. This happened most recently towards the end of 2005 in Latvia when property values increased by 30% in the four months following adoption of the Euro.
Credit
Mortgages to buy property in Bulgaria are now attractive and loans of 70% LTV can be obtained at around 6% interest.
Rental Yield
During the winter ski season of December to March it is possible to rent out good 2 bed apartments for 60 euro per night and there is a big demand for good quality accommodation. In the summer the apartments could be let for approximately 45 – 50 euro per night
Construction Programme
Work started in summer 2007 and is expected to be completed in late 2008.
  
  
Construction at September 2007
|
