Stability Reigns: Sofia Real Estate Market Thrives Despite Uncertain Times
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Bulgaria is the favourite spot of Russian state officials for buying real estate, shows an investigation of the Russian business publication RBC.
The RBK journalists have analysed the property declarations of almost 500 Russian MPs and state officials. They show that 176 of them have apartments in Bulgaria. Often they own just part of the property.
Most preferred were one and two-room apartments (187).
Among the more notable home owners in Bulgaria is Russia's deputy finance minister Alexey Moiseev, who owns two apartment and 50% of a third. The total area is 386 square meters.
“We are living in the north and the children need to strengthen their immunity,” said Karelia MP Alexandr Fedichev who owns a 84 square meter apartment in Bulgaria.
The most frequent reason for ownership were the need of vacation home for the children, treatment of relatives and wives' whims.
Second most favourite spot for Russian state officials is Spain with 61 owners of 37 apartments and 32 houses. In top five are also Montenegro, Lithuania and Germany.
The remaining 30 other countries – from South Korea to Egypt – lag far behind.
According to the publication, the real number of real estate properties abroad, owned by the Russian state officials, is much higher, but remained undeclared, because as of last spring they are banned from owning property abroad.
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The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
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