Russians with properties on Bulgarian Black sea coast are now selling them en masse. Their withdrawal from the market is not because of the coronavirus, but because of the depreciation of the Russian ruble, according to brokers cited by Trud.
There are those who have taken out loans in euros in their country of origin to buy goods here. By recalculating the value of the loan on the basis of the exchange rate of the ruble against the euro, they find that having goods in Bulgaria is disadvantageous. Ninety percent of Russians‘the apartments by the sea are currently locked and advertised for sale.
âMore than 5,000 apartments have been purchased by Russian citizens, but under the current circumstances they are announcing their goods for sale. What is more important, however, is that there is an interest on the part of Bulgarians who want to buy goods in Pomorie, because in addition to the sea, the sun and the sand, the city offers something else – healing mud, “say real estate brokers.
However, while the Russians withdrawing from the real estate market, the spare Bulgarians are investing boldly in houses and apartments. Real estate agents see a strong interest in buying spacious homes, as well as oceanfront land near a major city.
“I would say that along the Black sea coast most are looking for properties in Burgas. It is the city where potential buyers can come from almost anywhere. They could be foreigners, they could be from Haskovo, from Yambol … The city is pleasant, well situated between the south and north coast of the Black Sea. “
The expected entry of our country into the euro zone is pushing many Bulgarians to invest in goods, although 80 percent of home purchases are made with a mortgage, brokers report.
âMuch of the demand is for real estate in Sozopol, but there are deals made in Pomorie and Nessebar,â the brokers say.
Many Bulgarians who are worried about the devaluation of their money prefer to invest their savings in real estate.
“Others can buy a house for investment purposes, like goods is a commodity that never loses its price like gold, âbrokers say. They also recognize the lack of Brits who traditionally bought rural properties in Strandzha.
In recent months, only one German citizen has bought a house in Sozopol. But the interest of Turkish nationals, whose desire to buy goods in Europe is mainly related to the possibility of doing business, makes an impression.