Russians are leading in terms of investments in Bulgaria
In 2018, foreign investors have invested in Bulgaria more than € 1.5 billion, portal “Russian Bulgaria” reports. This is 10.3% more than in 2017. The chief manager of Holiday Properties of ARCO REAL ESTATE, Veselin Marinov highlights that over the past two years property prices in Bulgaria have been increasing moderately.
Stability in the market means 10-15% growth per year. The projects are not standing still, there is an active construction, especially in Sofia, the capital of Bulgaria. Sofia, Varna, Burgas and Plovdiv are among the most popular cities. Sofia, the capital of Bulgaria, is located at the foot of Vitosha Mountain. One of the oldest cities in Europe is incredibly valuable to the locals.
It will be comfortable for lovers of incendiary nightlife and a relaxing holiday in combination. Varna is a southern resort, equipped with sandy beaches, museums, monuments and cathedrals. The purchase of housing here will be useful to those who want to attend various procedures, because the local sanatorium is the pride of Bulgaria of its year. Water from mineral springs and mud of the Lake of Varna is effective and beneficial for everyone. However, young people can find themselves entertaining in Varna in the form of bars and discos.
The most popular among Russians is the resort real estate market. As noted earlier, the Russians are leading the list by the number of investments in properties. They invested about € 3.6 million. Residents of Ukraine invested € 0.8 million, and Germans € 0.7 million. In recent years, it has been somewhat stagnant, but in 2018 and by the present 2019 there has been a significant increase in construction and sales. The most opportune moment of purchasing real estate in the ski and sea resorts in Bulgaria has come, with affordable prices in the best areas like Sunny Beach, Sveti Vlas, Sozopol, Bansko and several others. Now demand and areas with spa treatments, mineral waters. The great interest in resort real estate is due to good profits that can be obtained when renting real estate. The yield that can be obtained is from 4 to 8%.
Why are Russians so actively buying housing? Obviously, they see prospects both in the Balkan country and in their own development. Moreover, Russians buy apartments for the purpose of obtaining a residence permit. After the conclusion of the sale transaction, certain privileges are given. Obtaining a residence permit is not at all a complicated procedure if you competently use the help of lawyers. Also, according to Veselin Marinov, recently interest in real estate can be traced among residents of the UK. And the number of building permits increased by 12.4%.
Specifically, in real estate, foreign investors invested € 7.9 million in 2018. These figures are more than € 19.5 million in 2017. These data are provided by the Bulgarian National Bank (BNB).