FT: Russians Find Bulgaria Good Place to Buy Second Home

Business | November 30, 2014, Sunday // 21:50
Bulgaria: FT: Russians Find Bulgaria Good Place to Buy Second Home

Bulgaria has become a popular destination for middle-class Russians to buy a second home, the Financial Times wrote on Sunday.

With long-term residence permits easy to obtain, an estimated 400,000 Russians currently own properties in Bulgaria and a growing number are becoming year-round residents, FT's Kerin Hope quoted Mihail Chobanov, head of a Bulgarian real estate agency, as saying.

Another benefits of Bulgarian residency for Russian nationals include easier travel elsewhere in the European Union as well as obtaining a degree at a Bulgarian university as a first step to qualifying for a job in western Europe or the US, the article said.

Deutsche Welle reported in June that Russian citizens own 300,000 properties in Bulgaria, having invested around EUR 18 B.

 

 

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: Financial Times, property, properties, Russia, Bulgaria

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria