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Beach Property Makes Kavarna the New Property Hotspot

Kavarna on the Northern Black Sea coast is one of the country’s few undiscovered coastal gems in terms of property investment. It differs from the traditional Bulgarian beach resorts because it is not flooded with hotels, bars, restaurants and all of the other trimmings associated with a package holiday resort. In fact Kavarna is one of the few places where you can purchase an apartment, which really does open its doors onto the beach.

Location, Location

Kavarna lies in a cove between Balchik and Kaliakra. Its coastline extends 40 km with an artificial beach covering around 74,000 sq m, although the physical surroundings of towering rock faces, wild shrub land and the sea would lead you to believe that it had evolved naturally over centuries. The sea is calmer here thanks to the arms that surround the bay and it is one of the few places on the Bulgarian coast that is calm enough to permit water skiing. It is still untouched by mass tourism, and apart from a couple of small beachside restaurants, the place is quiet and peaceful. To the far side of the pier fishermen keep their boats and during the fishing season they hole up in a mass of shed-like homes teetering on a rocky hill, which forms the first incline of the cliff overlooking the stony part of the beach. In the summer the buzz of holidaymakers and heavy metal lovers fills the air; Kavarna has positioned itself on the international rock calendar as a regular stop off for rock legends like Motorhead, Uriah Heap and Manowar.

Ripe for Development

Kaliakra’s location makes it an ideal spot for the development of tourism. It lies within easy reach of the three newly constructed golf course, BlackSeaRama, Thracian Cliffs and Lighthouse as well as being a stone’s throw from sites of great natural and historical beauty like Cape Kaliakra, Yaylata, Bolata and Cape Chirakman. There are also plans afoot to build a yacht marina here. There are also facilities for hunting tourism, not everyone’s cup of tea, but in Bulgaria it is big business. There are four hunting reserves located around Dobrich, Balchik, General Toshevo and Tervel. On the contrary, if conservation is your thing, then the protected wet lands of the Durankalak and Shabla lakes are close by and they contain some rare flora and fauna as well as providing a haven for migrating birds particularly red-breasted geese. The area is also rich in mineral springs and healing mud another branch of the tourist sector, which makes this place ripe for development. Savvy developers have moved in securing beach front land at bargain prices several years ago, but development here has occurred at a much slower pace than in areas closer to Varna and there are still no complete beachside properties available.

A Changing Urban Landscape within the Town

The urban landscape of the town has changed significantly over the last three years. In terms of its infrastructure, there is a well-developed road network and the once shabby panel blocks which line the central boulevard have been given a new lease of life thanks to its innovative, rock-mad mayor Tzonko Tzonev. He commissioned leading artists to paint giant portraits of rock legends who visit the town on the side of the blocks in colours befitting the town’s natural coastal landscape. He also supported the construction of the town’s shopping mall, a feat in itself given that towns of this size do not usually get a look in with large-scale mall developers. The mall, which opened at the end of 2008, was built on the site of an unfinished building, which had been decaying for over 30 years. It contains retail space as well as plenty of smart office space, restaurants and a night club. In the pipeline there are plans to build a luxurious yacht marina and a Formula 1 racing complex. Tzonev like his counterpart in neighbouring Balchik, is committed to turning the area into a chic resort with restrictions on the amount of development so as to protect the natural geography and wildlife.

Rising Property Prices

Average property prices in Kavarna currently stand at around 60,000 euro. The availability of beachfront properties is a major plus in Kavarna. Such property is always popular and commands premium prices due to their prime location. Beachfront properties are about the only places that come with an unwritten guarantee that nothing will be constructed in front of the giving uninterrupted views of the ocean. Kavarna now has a well established expat community in addition to those who have bought holiday homes here. The nearby golf courses are almost all open and have already added value to property prices in Kavarna as well as stimulating the rental market. When the marina is constructed this will further develop the town as an up market resort. Over the last two years, vacation property prices have increased here by around 18% and 21%. Land prices have also increased in value thanks to developers pushing up the prices. Nevertheless, prices here are still a third of that in Spain and significantly cheaper than other more commercial parts of the Northern coast and this in itself signify a great investment opportunity.

Picture 3 courtesy of  www.bulgariaphotos.net