Russian rush for Bulgarian properties on the black sea coast

A new wave of Russian property buyers is flocking to the Bulgarian black sea coast. After the peak in 2001, caused by the crisis in the Russian federation, now the situation is repeating - the people want to protect their savings in crisis times and consider that the most profitable investment is to buy real estate in Bulgaria and other countries.The Bulgarian real estate market attracts the attention not only of big investors but also the interest of middle class property buyers. The big investors are looking for management of big complexes by the sea. For the single buyers Bulgaria is a property paradise - the prices are low and the conditions compete with more expensive destinations like Montenegro and Greece comment Diana Kirova, chairman of the Bulgarian branch of the Internation Federation for real estate IFRE.On the international congress in Saint Petersburg last month a lot of Russian visitors did not know where is Bulgaria and still they were ready to byt a property here.

They consider Bulgaria a secure destination because there are new complexes and buildings that are being started at the moment which is not the case with Greece and Romania for example. The Bulgarian bank system and the economy are stable. In Greece some second home buyers have lost up to 40% in the resale of their property.