Public Auction of apartments in St. Vlas

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Public Auction of apartments in St. Vlas

Postby Admin » Wed Jul 20, 2011 5:52 pm

The complex Buena Vista, situated in St.Vlas resort was taken to public auction due to the debts of the developer "MK Properties". All 109 apartments are taken to auction. The total build-up area of all apartments, situated in 8 separate blocks, is 7218 sq.m. Together with them the land plot was also announced for sale. The total purchase price of the whole complex plus land is 6 148 000 leva without VAT, which means 435 Euro per sq.m.

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Re: Public Auction of apartments in St. Vlas

Postby Admin » Fri Nov 02, 2012 10:34 am

Update from 02.11.2012

The complex Buena Vista is still on public sale. The creditor is Raiffaisen Bank Bulgaria. According to our information a fifth sale is going on now and the asking price for the whole complex has dropped to 2 880 000 leva/which is 1/3 from the asking prices at auction one/. The complex is not completed /it is constructed only up to rough construction/ and maybe this is one of the reasons for the lack of bidders in these public auctions. Considering the financial climate here, we doubt that any potential bidder will appear at this auction, so we expect new auctions in the future at even lower prices.


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