Russia replacing UK as popular buyer of Bulgarian real estate

Russia is taking over from the UK as the chief purchasers of available real estate in Bulgaria, it has been suggested.

Property Wise reports of information displayed on private Bulgarian television channel bTV, which suggested that Russian investors were proving particularly keen to buy property for sale in the country.

It was noted that over 100,000 Russians had bought properties along the Bulgarian coast, with the television station's report highlighting that accommodation in small villages were also being purchased.

Although demand for real estate in the country has typically come from the UK and other locations which speak English in the past, this has now changed.

The news provider reports that real estate agent Stefan Atanassov told the bTV: "Many Russians are seeking to buy single family homes facing the seafront or flats in the cities."

Leading Bulgaria real estate consultancy, Address, recently pointed out that the value of houses in the country had grown by in excess of 300 per cent in the last decade.

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