Nikolay K Kanev and Pavel Petkov, founders, will help you make the most of the real estate market
When you want to invest in a high-end property in Bulgaria, or seek to buy one, Belle Estates/ERA Premium is the company that will help you to make the best choice. It was founded by Nikolay K Kanev and Pavel Petkov in 2020 and already deserved international recognition by becoming Bulgaria's first and only Premium office of ERA, the US property market leader.
How and when did you decide to create Belle Estates?
Nikolay K Kanev: We founded the brokerage company in the last trimester of 2020. In the year when Covid-19 forced the world into a standstill, we recognised an opportunity on the property market and decided to use our know-how and experience in the field. I have always been passionate about the real estate business, but my first serious foray in the field began in 2016, in the UK. I was working for a high end property management company. Many of its clients had gotten rich with real estate investment. This inspired my first investment – I bought an apartment to let. I soon realised that the choice was good and that this was the business I wanted to develop. I made other investments and in a couple of years I gained invaluable experience that I continue to gain with each phone call, meeting and deal.
Pavel Petkov: I started my business with short-term property rental in 2016. Back then it was a new business in Bulgaria, my company BnBees was one of the first on the market to offer real estate owners and investors a new way of making money for significant profit. The business rapidly expanded and soon we were managing 100 properties, including apartments, luxury houses and a boutique hotel in Sofia, Plovdiv and elsewhere. I and Nikolay Kanev decided to found Belle Estates to combine his expertise in buying and selling properties and my experience in property management and high profit returns. We operated under this name until July 2022, when we joined the network of the US brand ERA.
Why do Bulgarian clients need your services?
PP: Our services go beyond buying or selling a property. Our portfolio includes market survey; marketing plan for property selling; expert market assessment; professional property sketching; help to fund the deal; property management and other services according to the clients' needs and goals. Sadly, Bulgarians are still sceptical of the need of professional brokers in property deals. The systems and strategies that we at Belle Estates/ERA Premium use are borrowed from the US, the leader of the property market business. This allows us to add exceptional value to property deals and our clients time and to give them security, the best conditions and exclusive services. In our work we implement innovative products and services to stand out. Our consultants are also active agents on the property market.
How did you gain the recognition to join the US brand ERA?
NK: To this question it will be best to answer the person who trusted us to open the first and only ERA Premium Office in Bulgaria – Mrs Teodora Dimitrova, founder of ERA Bulgaria and Chairwoman of the Council of Directors of ERA Bulgaria.
Teodora Dimitrova: Nikolay and Pavel had a dream that they turned into a business plan: To create a premium brand for mid- and top-end properties in Bulgaria. I saw in them people who challenge themselves, are exceptionally focused and uncompromising in their work and are loyal. Such qualities provide the best chance for professional development and success. We were impressed by Nikolay and Pavel's professional qualities, and we also recognised them as partners with high moral; ethical young people who fully share the philosophy of ERA, a company with 50 years of successful international experience.
What will clients find in the first and only ERA Premium office in Bulgaria?
NK: To be a part of ERA Distinctive Properties you need to meet the brand's exceptional standards. A property should also meet many criteria to deserve the Premium brand: location, area, layout, lightning, energy efficiency, green areas, access and others. The requirements towards ERA Premium brokers are high as well. They are trained to work in the high-range property segment and undergo monthly evaluation and trainings to improve their skills. This is why ERA Premium clients can rely on high competence, ethics, moral, personal approach and the best service.
PP: At the ERA Premium Office we will implement new for Bulgaria marketing methods. We will pay more attention to personal contact and will organise special events for property promotion. We will create a business club to give our clients an environment where they can enjoy beautiful (Belle) properties, can network with like-minded people and use exclusive products and services.
I want a new home. What would you offer?
PP: To offer the right property for our clients, we need first to understand their needs. For most people buying a property is one of the biggest events in their lives. This is why we need to be very careful. The building's energy efficiency will significantly affect buying property in the near future. The trend is already present in several European countries where the building's energy efficiency certificate is an obligatory part of the property deal documentation. So, we would recommend when buying a property to pay serious attention to this detail, which is still overlooked on the Bulgarian market. Currently, the popularity of real estate in the greener parts of the city, with more area and bigger rooms, which are well built and with proper infrastructure is growing.
Which are the most prospective options for property investment according to Belle Estates?
NK: As a property investor I believe that residential properties are the best investment. This has been proven in time. The roof over our heads is and will remain one of the most important things in our lives. There is hardly better long-term investment. There are many strategies for investing in property in accordance with the investor's goals. If we seek long-term passive income, it is best to buy a one-bedroom flat in a new building in a location with big potential for development. In the Fix and Flip strategy, that seeks fast capital growth, the most popular properties allow full redesign and "adding" a bedroom. The BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) uses problematic properties that can be bought as cheap as possible and considers factors such as potential money flow from the property, its value after renovation, and options for refinancing. Considering Bulgaria's location, I personally do not believe that the country is a market with good profits in long-term letting, and not only. Our investment goals include investments abroad. We plan to start with Florida, the US. We choose the strategy in accordance to the investment's location, the area's potential, and the future buyers or renters.
Sofia, 44 Vitosha Blvd
Nikolay K Kanev: +359 877 500 153
Pavel Petkov: +359 897 779 578
HOT OFFERS BY BELLE ESTATES/ERA PREMIUM
• Location: Oia, Santorini
• Area: 70 sq.m
• 2 bedrooms/1 bathroom
• Price: €1,600,000
Country mansion, Bulgaria
• Location: Levski village, Panagyurishte municipality
• Area: 600 sq.m living space and 1.5 ha yard
• 4 bedrooms/5 bathrooms
• Price: €209,900