Property Expert: Russians Won't Fill Bulgaria Real Estate Gap

Business » PROPERTIES | April 7, 2009, Tuesday // 16:23
Bulgaria Property Expert: Russians Won’t Fill Bulgaria Real Estate Gap: Property Expert: Russians Won't Fill Bulgaria Real Estate Gap Photo by RE/MAX

Bulgaria real estate expert Shtelyan Kalchev said Tuesday that it is unlikely that Russian investors will be able to fill the gap UK buyers have left in the Bulgarian property market.

Kalchev suggested that "Russian investors are currently very active on the seaside and with other large projects but they can not make up for the lost EU, mainly UK buyers who spent a large number of normally EUR 25-40 000 sums that contributed hugely to the country."

In an exclusive interview for Kalchev continued that "some investors have decided that this is the perfect time. They are thinking; I don't want to wait 6 months and kick myself having missed an opportunity. Prices have dropped 15-20 % nationally, young families therefore have a once in a life time chance to get their dream home."

He went on to state that he is "very concerned about the image of Bulgaria abroad. The ton of bad media coverage can't often qualify as objective and there is more than a little manipulation in this respect. UK buyers are still looking and some of them buying, as there are great bargains on the market. I am sure though that Russian investors won't fill the gap UK investors have left in the market."



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

Click here for full interview with Shtelyan Kalchev.

Properties » Be a reporter: Write and send your article
Tags: real estate, Russians, Shtelyan Kalchev

Bulgaria news (Sofia News Agency - 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." (Sofia News Agency - 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