Bulgarian property market overcame by Russian buyers
According to Bulgarian House Ltd data, almost 80 % of overseas transactions in Bulgarian real estate are Russian investors. That invasion is giving the property market a much-needed boost, with international buyers now responsible for 15 % of overall transaction compared to just 8 % in 2009.The most popular areas are the coastal areas : Varna, Dobrich, Burgas, Sunny Beach, etc. The Russian buyers prefer luxury houses or apartments with sea view. According to Bulgarian House Ltd- real estate agency with Russian buyers replacing British byers to take advantage of the low prices, which now stand at 40 % below the market peak.
The owners are not desperate to sell their properties. They are waiting for the exact time when the price will be good for them. This is and one of the reason the prices of the properties to go up.
This was our first experience of buying a property abroad, and The whole process was managed and controlled by KiKi, due to Covid 19 we were unable to travel to Bulgaria to sign and complete the documentation, however we were guided through the legalisation process and purchasing using Kiki as our power of attorney, Everything was smooth and faultless, very happy with the service we received and the property, can’t wait to get to bulgaria to see our forever home project. Thank you very much Kiki.
— Donna Haskett, England