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Bulgaria topped the poll of overseas locations favoured by Russian property purchasers for the third year in a row. Just why do so many Russians favour Bulgarian property? As we've reported here before, some factors include the similarities between Russian and Bulgarian cultures, a warmer climate, and the relative geographic proximity of the two countries. However, the primary reason Russians plump for Bulgarian properties over property in other locations abroad is the price.

Russians know that they can buy Bulgarian propertyfor much less than the equivalent standard of property in most other European countries. They can buy property in Bulgaria that meets their standards for as little as 30,000 euros, according to Alexander Pypin of analytical centre GdeEtotDom.ru. Cheap housing abounds in a number areas of Bulgaria; the choice of properties at that low price level is far wider than in other countries. Russian buyers don't have to choose between price, quality and location either. Even seaside resorts such as Sozopol offer some fantastic bargains in lower price brackets that easily meet the standards of the average Russian buyer.

The Moscow Times interviewed Stanislav Ryzhkov, a real estate agent located in Varna on Bulgaria's Black Sea coast. According to Ryzhkov, "This year, our clients from Russia are looking for cheap houses or apartments. About 90 percent of requests we get and deals we complete are in the price range of 15,000 to 30,000 euro. One can buy a renovated house of 90 to 100 square meters with a parcel of land of 1,500 square meters for 15,000 euro." Ryzhkov went on to say that most Russians buying property in Bulgaria are between 30 and 40 years old and who take holidays in the country several weeks every year, renting their properties out during the rest of the year.