Russian investors see warmth in Bulgaria market
Real estate in Bulgaria is scoring top marks for Russian investors despite the downturn in fortunes of the global markets. There are more and more reports of how UK investors are pulling back to more familiar destinations such as France and Spain, whilst Russian investors are stepping in to seize any opportunity to buy investment property in Bulgaria.
The attraction with France and Spain is the laid back lifestyle, often in under-developed regions which provide a fuller flavour of the country. The thought that Bulgaria no longer offers that because of the financial crisis is misguided. What’s more realistic is that distance to destination is probably a bigger consideration. Bulgaria is coming top of the list for the Russians, especially property in Sunny Beach and Sozopol.
A recent expo of Bulgarian real estate in Moscow saw sales rise 20% when compared to the same event in 2009. The question is that when the market has recovered, will it be UK investors who will be left out in the cold?