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Why do Russian bye real estate in Bulgaria?

18 Jul 2011

Why do Russian bye real estate in Bulgaria?

From data of embassy of Bulgaria in Russia, in summer of 2011 will be expected the considerable increase of stream of tourists from Russia to Bulgaria. In the first fourth of this year were done on 50% more statements on the receipt of visas as compared to an analogical period the last year. Obviously, that Bulgaria is an attractive place for the Russian tourists, and it gives a positive prognosis about a property market.


For most customers of the real estate, Bulgaria is known for that it is possible to get property of economic class. This market segment is most popular. Suggestions on the high class of the real estate is still small. More demanding customers search the infrastructure of the closed type, with a good management, because they will not live there whole-yearly. In these complexes is realized a large quantity of sales of apartments, therefore and prices there more higher.


For Russians, Bulgaria is a country, close on a spirit and way of life. There is all in it, that it is needed for carefree life: sea, mountains, wonderful climatic terms, cultural and historical values, clean beaches and well-developed infrastructure - all of it creates ideal terms for rest.


An economic crisis and high level of taxation in Greece, crisis in building and high costs of the real estate in Spain, Italy and Croatia, considerably limits the Russians in the search of the real estate abroad. The main contingent of customers are ready to invest an about 100-200 thousand euro. For an analogical sum in majority countries it is possible to purchase the house of "economic class", at the same time in Bulgaria it is possible to purchase the plush real estate. And also in Bulgaria taxes, cost of airline tickets, registration of visas and property insurance are lower.  In the last two years of price on the real estate in Bulgaria considerably have fallen but by the end 2010 year, there was stabilizing of market. And in 2011 the price rises is expected on the real estate on 5-10%.


This year On June, 8, European parliament accepted the lecture of the Portuguese deputy of European Parliament Carlos Coelio about the willingness of Bulgaria to join the Schengen zone. Although a final decision will be accepted in autumn, it is a good signal. Entering into the Schengen zone will increase the amount of operations with the real estate, and also the prices. Advantage is that the proprietors of the real estate and their family can get a visa for the Schengen zone giving a right freely to move on all Europe. In this situation, the Russian customers and investors can appeal to the traditional, acquainted, safe and stable property markets in the countries of South Europe, such as Bulgaria.


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Why do Russian bye real estate in Bulgaria?