OREANDA-NEWS. This year permission to open a representative office in Bulgaria was received by Trasta komercbanka from the Bulgarian Trade and Commerce Chamber, and this summer the Bank will start providing new opportunities to Latvian investors: financing for the purchase of real estate in Bulgaria, with the real estate itself used as security, reported the press-centre of Trasta komercbanka.

The representative office of Trasta komercbanka in Bulgaria will be opened at the Sunny Golden Coast health resort in Nesebar. The principal tasks of the new representative office will be provision of support to the businesses of the Bank’s customers in this region and for investments in the real estate located in Bulgaria; comprehensive consultations regarding financial services will also be provided by experts of the Bank.

As a result of accession to the European Union and getting prepared for NATO membership, and thanks to overall economic growth, Bulgarian real estate market is among the most prospective markets in Europe: the sharp rise in demand and prices continues from year to year.  In addition to this development of the real estate market is encouraged by liberal Bulgarian legislation applicable to purchase of property. These circumstances as well as the attractive prices of real estate, goods and services in Bulgaria make this country particularly attractive for tourism, recreation and investments.

In support of investments made by bank customers in real estate, TKB has started a co-operation project with Premium Property, a realty company offering to purchase apartments in newly built residential blocks by the Black Sea: Arena, Majestic and Royal Sun. These are among the last projects to be built directly on the seashore at the Bulgarian health resort Sunny Coast. Strict limitations have been set for future construction in the first coastal belt. All the residential blocks have extensive internal infrastructure: restaurants and bars, swimming pools, recreation centres with fun fairs for children, nightclubs and casinos, SPA centres, beauty parlours, fitness clubs and tennis courts, shopping centres, offering a wide range of services.

Trasta komercbanka is the first bank in Latvia to offer financing in return for mortgage of the estate to be purchased in Bulgaria, with the financing amounting up to 70 percent of the purchase price of the property. The first instalment is set at 30 percent of the total value of the property to be purchased. By offering real estate for purchase, the services of TBK are not limited to the provision of financing; the Bank also provides consultations regarding Bulgarian legislation and tax issues, undertakes to carry out all formalities related to the registration of any purchases and guarantees security of transactions.

Detailed information on the new real estate projects of TKB is available on the phone: (+371) 67 027 777 and at the Bank’s homepage.