Russians prefer the southern regions of the Black Sea

Monitor, 09.04.13

Russians who decide to buy a holiday home in Bulgaria prefer the southern regions of the Black Sea, real estate agencies` brokers in Varna and Burgas say.
According to the Chief Operations Manager of BULGARIAN PROPERTIES Polina Stoykova Russians prefer the southern holiday regions of the sea, because there is a wide variety of offers and the prices are lower.

"They usually buy properties for personal use, not looking for speculative rise in the price of the property in which they invested their money," she says. Russians, who have apartments in seaside towns and resorts in Bulgaria, do not expect to get rich from renting out or reselling in time. Therefore, on the market of holiday properties currently there are no excessive expectations and inflation of prices, specified Stoykova.

According to Polina Stoykova, at the moment everything on the market is much more balanced and Russians are buying properties, which they really like and can afford.
"Russians are buying also on the northern coast of the Black Sea, but the number of deals is less and in this region the buyers are mainly people with more money who prefer more luxury properties," Stoykova says. "In this region properties, offered for sale are prestigious and the resale’s market is not developed yet, there are not many foreigners who sell their bought during the property boom properties. On the Southern Black Sea coast there are mainly English and Irish sellers, who are very active in searching for buyers," specifies Stoykova.

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