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.
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