Sanctions, Falling Rouble Force Russians to Settle in Bulgaria

Business » PROPERTIES | December 22, 2014, Monday // 10:39
Bulgaria: Sanctions, Falling Rouble Force Russians to Settle in Bulgaria File photo

Russian citizens have increasingly started to settle in the peripheries of Sofia, near mountain Vitosha.

In the past two years Russians have been among the most active purchasers in the region, Bulgarian daily Telegraf reports, based on information of brokers and solicitors who participate in the deals.

Following the sanctions imposed on Russia by the European Union and the devaluation of the rouble, their interest has not come to a halt, but even increased.

The reason is that they see the Bulgarian market as salvation for their savings, as they can invest them in something material.

Back in the summer Russian media reported the trend that Russians have started to choose Bulgaria on a more frequent basis when purchasing real property.

Bulgaria is also seen as more attractive for developing business, so Russians buy properties there and relocate together with their families, reported.

Several years ago Russians would only concentrate on the big coastal cities in Bulgaria – Varna and Burgas, where they would aim to establish companies.

At present they have started to “conquer” the smaller towns as well, among which Balchik and Kranevo.

The Black Sea town of Pomorie is inhabited by 4000 Russians, who live their on a permanent basis.

The first thing that Russians usually associate Bulgaria with is the Black Sea.

However the current trend shows that more Russians consider the option of permanent residence in Bulgaria.

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

Properties » Be a reporter: Write and send your article
Tags: Bulgaria, Russians, sanctions, rouble, devaluation, investment, saving, property, residence
Advertisement All Are Welcome! Join Now!
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