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Russian buyers targeting Bulgarian property

Date : (News Section: Bulgaria)

Russian buyers targeting Bulgarian property
Bulgaria is a popular destination among Russian property buyers, according to one newspaper in the country.

Novinite - the Sofia News Agency - reported on an article published by the Rossiyskaya Gazeta, which suggested the price of real estate assets in Bulgaria is one of the major factors attracting Russian investors.

The agency quoted the Russian paper as saying: "The properties worth up to €50,000 (£39,337) are about 80 per cent of the properties on sale in Bulgaria, and it is very profitable to invest with these prices."

It also pointed out that more Russians than ever before are considering buying real estate overseas, as it has become more affordable and therefore opened up the market to purchasers in the middle classes.

Earlier this month, Novinite reported on figures released by Bulgarian real estate agency Foros, which stated British property owners in the country are increasingly selling their assets to Russians.

Although Russian buyers have typically favoured the south Black Sea coast, the organisation revealed they are also moving into the mountain resorts and other locations along the Black Sea's northern coast.

Article created on behalf of News Desk ()

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