Russian-speaking buyers snapping up Bulgarian property 5.0 out of 5 based on 1 votes.

Property in Bulgaria is proving popular with Russian-speaking buyers. Ivan Goranov, expert in real estates, explained to Focus News Agency that “interest of foreign citizens in the Bulgarian holiday, mountain and seaside properties remains relatively big”.

Russian and Romanian investors are increasingly snapping up seaside properties in the country, while Macedonians and Greeks look to poplar mountain sites, including Bansko and Pamporovo. “The living conditions in Bulgaria, which even during the crisis are more stable compared to our neighbours’, attract the foreign buyers,” Mr Goranov said.

It seems that renewed interest in Bulgaria from overseas markets is also the result of a good marketing drive on behalf of the country’s tourism industry. Advertising to attract foreign visitors and investors has improved, helping to drive sustained demand. What’s more, the government is committed to improving the country’s infrastructure, which has helped to drive property sales, Mr Goranov claimed to the news agency.

However, property prices in the country remain low, according to the Global Property Guide. While this is good news for buyers, those looking for a quick return on investment face the same barriers that can be found across Europe. In May, the news portal reported that National Statistical Institute figures recorded during the year to end-Q1 2012 revealed that the average price of existing flats in Bulgaria dropped by 4.3 per cent, after price falls of 6.4 per cent, 6.1 per cent and 6.2 per cent over the year to the previous three quarters.

At the beginning of the year, property prices in Bulgaria stood a shocking 38 per cent lower than their peak level in the penultimate quarter of 2008. Nevertheless, by Q3 2012, a recovery had been noted, with prices beginning to stabilise. In Sofia, declining values slowed and the annual price drop in Bansko was under ten per cent. Polina Stoykova, chief operations manager and head of research of Bulgarian Properties, explained that this is a “good sign for stabilisation of the property market in our most popular ski resort”.



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