brokers in the Black Sea the city of Burgas reports massive sales of apartments and businesses by the sea. Most of the advertisements for sale come from Russian owners who, years ago, bought houses on the Black Sea coast, Nova TV reported.
Burgas saw the new year with a number of closed outlets for sale or for rent. In the seaside town there are more than 15 lists of landmarks in the center – among them a piano bar, restaurants until recently, cafes, confectioneries. Guild experts expect private bailiffs to put hotels and even a private clinic in the Sunny Beach resort town up for sale because of the bankruptcies.
“Retail sales, including hotels and restaurants, are up significantly,” said broker Nikolina Dimitrova.
However, there are no buyers for these sites, reports the industry. Russians who bought properties on the Black Sea coast are now selling their homes en masse. Their withdrawal, however, is not because of the coronavirus, but for economic reasons, brokers say.
“Some of these people took out loans from their homes to buy here. And when you calculate the value of the loan through the ruble-euro ratio, it becomes unprofitable. And the Russians are somewhat deceived into thinking that with these apartments here , they will be able to benefit from it,” says Pomorie resident Petya Simeonova.
Nearly 90% of apartments are currently locked up and for sale, and a likely reason for the ebb in addition to the lockdown is the collapse of the Russian rouble.
“More than 5,000 apartments have been purchased by Russian citizens, but in this situation there is an obvious ebb because Russian citizens are already announcing the sale of their apartments. But more importantly, Bulgarians who want to buy property in Pomorie are interested, because the city, apart from the sea, sun and sandy beaches, has something else that you will not find anywhere else, and that is healing mud, ”says the mayor of Pomorie Ivan Alexiev.
However, as Russians retreat from the real estate market, Bulgarians with savings are confidently investing in real estate. Experts in the real estate sector see serious interest in buying spacious accommodation in urban areas and even more so in seaside land near the city.
“On the Black Sea coast I would say that Burgas is the most popular city among potential buyers. It is the city that is in demand almost everywhere. They can be foreign, they can be from Haskovo, they can be from Yambol from wherever they are, the city is nice, it is advantageously located between the south and the north Black Sea ribs. So I would say if we look at the Black Sea on the coast, the greatest demand is for Burgas, ”says broker Velina Vasileva.
BulgariaThe expected entry into the euro zone has prompted many Bulgarians to invest in real estate. Although 80% of home purchases are made with a mortgage, interest remains high.
“The request was mainly for real estate in Sozopol, but we do not exclude transactions that took place in Pomorie or Nessebar,” the brokers explain.
“Some make the investment to rent out their new property in the future. Because property is a commodity that never loses its value, just like gold,” experts say.
They also noted the lack of Britons, who traditionally bought rural properties in Strandzha. In recent months, only one German citizen bought a house in Sozopol. But the interest of Turks, whose desire to buy property in Europe is mainly business-related, makes a special impression.
Many Bulgarians are seriously concerned about the devaluation of their money and prefer to invest their savings in real estate.