Russian love affair with Bulgaria continues
At the peak of the markets back in 2006, Bulgaria was competing healthily with the likes of France & Spain in attracting investors from the UK. Since the global landslide, Bulgaria’s popularity with the UK has waned but what real estate in Bulgaria misses out on in one respect it gains in another, namely huge interest by Russian investors.
Buyers from Russia are cherry picking the opportunities that exist amidst investment property in Bulgaria. Therefore it comes as no surprise that Bulgaria has recently topped the first ever Russian International Competition for overseas properties. The resorts of Sozopol, Pamporovo, and Shkorpilovtsi have each been awarded prizes, in a move that many expect will boost investment & development in Bulgaria.
An expo for investors keen on buying property in Bulgaria was recently held in Moscow, during which mortgage & legal advisors were on hand to help with the process of attracting and assisting investors in any way possible. Subsequently direct sales improved 20% over 2009. The question is what could we be missing out on?