Following the unprecedented levels of interest from British investors between 2005 and 2008, Bulgaria's property market is currently experiencing a dramatic turnaround in the nationality of today's buyers.
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Real estate agents are reporting that more and more Russian investors, whose primary focus has previously been towards villas and mid-to-high value properties situated along the Black Sea Coast, are now coming to Bulgaria with the intention of buying a second home in the country or living here permanently. It appears that many Russians are having a change of heart and direction when considering purchasing a new home in Bulgaria. Many have decided to take a look at what’s on offer away from the coastline and are now heading inland to find their dream home.
The condition and type of property that potential buyers are looking for is also changing. In addition to refurbished and furnished properties, which are always in demand, estate agents are now showing older rural and village properties in need of renovation to their Russian clients.
It is thought that the economic climate and the low cost of properties is proving attractive to a new tranche of Russian buyers who are considering a permanent move to Bulgaria in a bid to escape the ever increasing cost of living in their homeland. Locations such as the old capital of Veliko Tarnovo, Stara Zagora, Sliven and areas around an hour's journey inland from the coast are experiencing growing interest and are affordable to many people with a lower budget.
Property experts are forecasting that the current trend will develop further through 2011 but, as the property market continues to recover, Russians will once again be replaced by the British as Bulgaria's number one investors.
Related articles:
Look Inland for Today's Bulgaria's Treasures
Bulgarian Property Prices Reach Their Baseline
Bulgarian Property Market Boosted by Russian Investors
Bulgaria Gateway Property Market Analysis - Q1 2011
The condition and type of property that potential buyers are looking for is also changing. In addition to refurbished and furnished properties, which are always in demand, estate agents are now showing older rural and village properties in need of renovation to their Russian clients.
It is thought that the economic climate and the low cost of properties is proving attractive to a new tranche of Russian buyers who are considering a permanent move to Bulgaria in a bid to escape the ever increasing cost of living in their homeland. Locations such as the old capital of Veliko Tarnovo, Stara Zagora, Sliven and areas around an hour's journey inland from the coast are experiencing growing interest and are affordable to many people with a lower budget.
Property experts are forecasting that the current trend will develop further through 2011 but, as the property market continues to recover, Russians will once again be replaced by the British as Bulgaria's number one investors.
Related articles:
Look Inland for Today's Bulgaria's Treasures
Bulgarian Property Prices Reach Their Baseline
Bulgarian Property Market Boosted by Russian Investors
Bulgaria Gateway Property Market Analysis - Q1 2011
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