Bulgaria's Property Sales to Russians See Contradictory Trends

Business » PROPERTIES | April 10, 2014, Thursday // 17:12| Views: | Comments: 0
Bulgaria: Bulgaria's Property Sales to Russians See Contradictory Trends Photo by BGNES.

Two very different trends are observed in the real estate sales forecast in Bulgaria to Russian citizens during the spring - summer season.

The situation in Russia and Ukraine and the devaluation of the Russian currency have resulted in two opposite trends regarding the property sales, according to an analysis of Bulgarian Association of real estate brokers, Bulgarian National Radio (BNR) reports.

According to brokers from Varna and Burgas, Russians will remain the main buyers of holiday homes on the Bulgarian Black Sea coast in 2014 summer season. A slight increase in residential property investments may be observed due to the ruble's devaluation.

Real estate brokers from the regions of Pomorie and Bansko expect an average to weak season for holiday homes because of the complex situation in Russia and Ukraine and the continuing devaluation of the national currencies of both countries, BNR informs.

Regarding the property market in Central Bulgaria, the expectations of brokers in this region are that the gap between the offer price and the optimal selling price will continue to shrink.

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Tags: real estate, Russia, Ukraine, Black Sea coast, holiday homes
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