Number of Russians Buying Property in Bulgaria Dwindles in 2 Years

Business » PROPERTIES | October 25, 2016, Tuesday // 13:04| Views: | Comments: 0
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Bulgaria: Number of Russians Buying Property in Bulgaria Dwindles in 2 Years File photo

A threefold decrease in the number of Russian nationals buying property in Bulgaria has been registered since 2014, data shows.

Russian-speaking candidates have dwindled after the events in Ukraine, news website Dnevnik.bg reports, citing a report of Green Life Development and Resorts.

However, the property market has retained s stable level since the beginning of 2015, Teofil Petkov, the company's CEO, is quoted as saying.

While the number of transactions has not changed substantially, the motives and profile of buyers has, with more people from Western Europe seeking to acquire such properties. Some of these are Bulgarians willing to invest their savings, the company has said.

The issue of Russian nationals buying properties in Bulgaria was raised again after a Russian MP-elect and journalist said his country had bought half of the country's coastline.

 

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