Some 300,000 Russians have property in Bulgaria

About 300,000 Russians have property in Bulgaria, showed official figures as of the end of last year, presented by Bulgaria’s Ambassador to Russia, H.E. Boyko Kotsev, at a press conference, posted Profit.bg, citing the Russian website ZagranHouse.

Some 40% of the Russians have purchased a holiday real estate in Bulgaria. Every fifth Russian buyer of a real estate has concluded such a transaction for the purpose of setting a business and 15% have purchased houses and flats for permanent residence, statistics showed.

According to the Ambassador, most of the purchased apartments and houses are in the Black Sea resorts, the rehabilitation resort of Sandanski, the Bansko ski resort and a small part of these are in Sofia and Plovdiv.

Earlier, the Homes Collection magazine published a survey, according to which Bulgaria is still the most popular country among Russians seeking to buy real estate property. Spain follows on the list and Italy is third. According to experts, 80% of the respondents look for property in the countries from the top ten ranking.

Analysts believe that real estate prices in Bulgaria have practically hit the bottom. At the end of 2011, housing prices in the seaside city of Burgas fell to €860 per sq m and to almost €770 in Plovdiv - the second largest city in Bulgaria.

According to the National Statistical Institute, property prices decreased by 6% last year, compared to 2010.

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