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ARSHIN INVESTOR GUIDE · IN ENGLISH

Developing property in Bulgaria: connect the site, the budget and the programme.

A development investment depends on what can be approved, what can be delivered and when the money is needed. Prepare a brief your architect, cost consultant and financial adviser can work from together.

Start this acquisition brief

Use this as a starting checklist with your own advisers. Creating a brief does not commission a legal, technical or valuation review.

CHECK 01

Start with an evidenced development scope

Keep a distinction between what is documented and what is proposed. A feasibility brief should make assumptions visible before they are used in an investment model.

  • Record parcel identity, existing ownership and the planning documents available.
  • Ask your architect to define the proposed use, areas, parking and required permissions.
  • Reconcile gross floor area with the area expected to be sold or let.

CHECK 02

Make construction offers comparable

A single cost per square metre can hide major differences in scope. Keep the quantities, inclusions, exclusions and commercial terms with each offer.

  • Request a bill of quantities or a clear scope schedule where available.
  • Separate site preparation, building works, external works and utility connections.
  • Record design fees, surveys, contingencies, taxes to confirm and payment terms.

CHECK 03

Connect programme and funding

The dates of acquisition, permissions, construction and sales influence how much capital a project needs. Prepare this sequence before relying on a headline return.

  • Record milestones, dependencies and realistic allowances for outstanding approvals.
  • List expected equity contributions, financing terms and major payment dates.
  • Ask a financial adviser to test delays, cost increases and slower sales or letting.

CHECK 04

Keep the investment decision traceable

Use one project file to connect the brief with documents and assumptions. Record what would change the decision, and the work needed before a bid or construction commitment.

  • Record each sales-price or rental assumption with its source and date.
  • Separate the target return from a calculated and independently reviewed result.
  • Assign outstanding legal, architectural, cost and financial reviews to the appropriate advisers.

UNDERSTAND THE LOCAL TERMS

Bulgarian property terms you may encounter

KSS / КСС
Kolichestveno-stoynostna smetka: a quantity-and-cost schedule. Check quantities, units and scope before comparing totals.
Gross floor area
Keep the area definition with the figure. Gross, sellable and lettable areas serve different purposes.
Residual land value
A model result after costs and a target return. It depends on the assumptions and is not an automatic purchase recommendation.

CHECKED 29 SEPTEMBER 2026

Official sources for your next checks

BEFORE YOU COMMIT

Questions about this acquisition

Is there an automatic Bulgarian construction-cost or residual-value model?

Not in the current release. You can prepare the brief, attach quantities and offers, and record assumptions. Construction cost models and investment cash flows remain later development stages.

Can the same workspace support a developer and a construction company?

Yes. Keep the development brief and supporting evidence in a project. Use a separate construction-budget project when the decision concerns quantities, contractor bids and scope rather than the acquisition itself.