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Russians are Fuelling Bulgarian Property Market

The current trend for property in Bulgaria shows that Russian buyers are one of the biggest demographics interested in investing in this Eastern European country. Real estate in Bulgaria is heavily favoured by Russian property investors. Why are Russians so interested in buying property in Bulgaria?

Why Russians Love Bulgaria

The answer lies in a number of factors. Many Russians find Bulgaria to be a comforting and familiar place. The culture and the language here is similar, so Russians living in Bulgaria do not have to struggle to be understood. Also, many Russians have memories of spending holidays in Bulgaria as children, so the location has a certain happy nostalgia associated with it.
 
The climate in Bulgaria is much warmer and sunnier than freezing Russia. These investors are looking to escape the frigid climate of Russia and find a place in a much more pleasant temperature. Compared to other sun destinations such as Spain, Italy and Portugal, real estate in Bulgaria has much cheaper prices.
 
In fact, cheap prices are one of the biggest factors that seal the deal for Russian buyers wanting to relocate to Bulgaria. Some of the nicest seaside properties throughout Bulgaria offer incredibly low prices compared to similar properties in other European countries, and certainly much lower than any prices they are used to in Russia.
 
The Two Types of Russian Investors

There are two different types of Russian investors who are looking to buy and sell property in Bulgaria. The first are the high net worth individuals, who are very wealthy professionals, entrepreneurs, business owners, or other affluent types. Money is no object for this group, and they are looking to buy spacious, luxurious penthouse apartments that are simply for use as a second home to improve their lifestyle.
 
The other type of Russian buyer, who is interested in real estate in Bulgaria, is a more middle-class investor who is looking for a smaller apartment and a cheaper price. They might intend to make a profit on their property in Bulgaria by renting it out or earning capital growth. They might be getting slightly older and are hoping to use their property as a holiday home, perhaps to relive those childhood memories.
 
It is the second type of buyer who is becoming more predominant in the market at the moment, and those who are seeking to sell property in Bulgaria are beginning to target this demographic. It's also important to remember that it is not simply Russians who fuel the Bulgarian property market, as there are also buyers from the UK, Europe, Australia, the USA and China. Investors from all over the world are picking up on the idea that Bulgaria is a cheap and beautiful location to own a holiday home.