The population numbers to approximately 500 people. The former name of the village was Karabak. The current name of the village /meaning Lilac/ derives from an area near the settlement overgrown with fragrant lilacs.
In the community center of the village there are many clubs: authentic folklore, chess, folklore dancing, reader's club and a rich library. In the village there is also: a kindergarten, food shops, a post office, a cafe, a pub, a carpenter's workshop and a bakery - one of the few private bakeries left in the area. The bread produced there is distributed to food shops throughout General Toshevo, Kavarna and Dobrich municipalities. The church named after St. Peter and St. Paul was built in the 40s. It is currently being repaired. Internet, cable TV and full mobile operator's coverage are available in the village.
Many foreign citizens have purchased a home in the village, some of them are living there year-round.
The advantages of Lyulyakovo are its proximity to the town of General Toshevo, its location near a main road and the good infrastructure - the roads are in a very good condition, regular electricity and water-supply are available. Regular public transportation connects the village to General Toshevo and the nearby villages. The locals are occupied in agriculture. Developed are grain-production, stock-breeding and gardening.