Russians spend their savings in Bulgarian real estates

The collapse of the Russian ruble, caused by tensions between Moscow and Kiev, will cause more Russians and Ukrainians to seek a way to rescue their savings with the purchase of a property abroad and mostly in Bulgaria, consider our brokers.

They also say that in a time of uncertainty is very close to Bulgaria and logical choice of a European country with stability and prospects.

The complicated situation will make more people with better financial opportunities from Russia and Ukraine to buy a property in Bulgaria. According to them, it's difficult to forecast how long it will raise another demand on their part, because the situation is still very complicated.

However, there are some prerequisites, we believe that the interest will grow.
Over the past few years the prices here fell by 50%. Even with collapsed ruble the Bulgarian properties remain accessible for a wide range of buyers. It should not be forgotten and that our country is well known and popular.

The devaluation of the ruble will cause the wealthy people of the middle class in Russia to think about a purchase of a second home or primary residence in Bulgaria.

According to some brokers, so far their main interest is to the Black Sea and the capital - Sofia.

The brokers predict that most likely the potential growth of demand by the Russians and Ukrainians will be felt at the beginning of the summer.

"I hope the crisis between Russia and Ukraine will not deepen, because it will reflect negatively on the Bulgarian economy," said Mladen Mitov and added that it was still too early to predict anything.

"The people savings of the middle class in Ukraine and Russia are currently at great risk, and they will be looking for a way to save them", says Valeri Leviev.

In his words, however, at least in the short term it will have no effect on the Bulgarian property market. On the other hand, he thinks that the investment in real estate is always timely.

According to Michaela Lashova from “Forton " the crisis between the two ex-Soviet republics raises some possibilities more Russians and Ukrainians to seek a way to save their money by purchasing a property in Bulgaria.

"If the Government accepts in return for investment to be given Bulgarian citizenship, the number of Russians and Ukrainians entrepreneurs at home will grow," she added.