Russian buyers: why do they choose real estate in Bulgaria?

Growth of the middle class in Russia

Today, there is a steady growth of the middle class in Russia, and many of them are interested in purchasing real estate abroad. Real estate in Bulgaria is particularly popular among Russian citizens, with over 337,000 Russians already owning property there. Property prices in this country are less than half of those in Russia, while even in lesser-known cities, prices remain much more affordable.

Advantages of living in Bulgaria

One of the main advantages of Bulgaria is its favorable climate, fresh air, and clean water, which positively affect human health. The life expectancy in this country is seven years higher than in Russia and four years higher than the global average. It is also worth noting the similarity between the Bulgarian and Russian languages, which eliminates the language barrier for Russian citizens.

The benefits of membership in the European Union

Bulgaria's membership in the European Union opens up huge opportunities for travelers, allowing easy access to neighboring countries. The small size of the country makes it possible to explore many natural attractions in a short period of time.

Opportunities for retirees from Russia

Russian pensioners can easily obtain a residence permit in Bulgaria. This can be especially appealing to them, as military personnel who retire at the age of 45 can also qualify for this status.

The popularity of Bulgaria among real estate buyers

According to professional realtors, most property buyers in Bulgaria are businesspeople and entrepreneurs. However, the country also remains an attractive place for retirees seeking peace in their retirement. Elderly citizens from Russia show great interest in purchasing housing in Bulgaria.

Russian seniors and real estate in Bulgaria

The preferences of elderly citizens from Russia when it comes to real estate lean towards the Black Sea coast of Bulgaria. Cities such as Pomorie, Byala, Obzor, Sunny Beach, Burgas, and Varna are particularly popular. Prices in this area range from 450 to 1000 euros per square meter, making it an attractive place for investment and personal use. According to data from the Bulgarian National Real Estate Association, over 110,000 Russian citizens own property here.

Demand and popular trends

Interest from Russians is mainly focused on the resorts of Sunny Beach and Sveti Vlas, as well as the cities of Varna, Burgas, Pomorie, and Sozopol. This information was provided by Todor Stoyanov from Prime Property BG. The most popular options are apartments in residential complexes by the sea, but there are also those who prefer houses with large plots inland.

Diversity of price segments

Apartments costing up to 30 thousand euros are among the most sought-after. For example, on Sunny Beach or in Bansko.

Buying property in Bulgaria is a responsible decision that requires careful study and verification of all documents with the help of a lawyer.Many sellers hide information about property liens in the bank, so it is important to be cautious and carefully examine all the details of the transaction. When choosing an apartment, it is necessary to consider not only the living area but also the area of balconies and terraces. For example, external walls are included in the total area, while internal walls are shared between apartments, which can lead to a reduction in the size of the premises. Therefore, before finalizing the deal, it is advisable to personally visit the property and verify its actual dimensions.

Housing in Bulgaria is suitable for personal living, but it is not the best choice for investment due to the constant decline in real estate prices.Commercial real estate is also not in high demand due to the less favorable business conditions in the country. Therefore, if you are interested in commercial property, it might be worth considering other options in different countries.

House prices in Bulgaria have decreased by 2% on average over the year and vary depending on the region.For example, housing in some cities has decreased in price by 5.8-10%, while in others it has increased by 3%. The cost per square meter in the capital city, Sofia, is 725 euros, while in other cities like Varna and Burgas, the prices are slightly lower.

If you are looking for real estate in the center of Varna, you can find interesting offers, such as a villa with a pool on a 2,000 square meter lot for 1,800,000 euros.Additionally, real estate in the center of Sofia can be quite expensive; for example, an apartment with an area of 96 square meters can cost up to 290,000 euros.

Despite the overall trend of declining real estate prices in Bulgaria, it is worth noting that over the past 20 years, apartment prices in the country have increased.Buying real estate in Bulgaria has its advantages, such as affordable prices and the possibility of using it for own residence or renting it out. renting. However, it is necessary to keep in mind all the risks associated with the purchase of real estate in this country.

Conclusion:

In summary, it can be confidently stated that purchasing property in Bulgaria is becoming increasingly attractive for Russian citizens. The affordability of real estate, favorable climate, clean air and water, as well as the appealing geographical location make this country one of the best options for buying property in Europe. Russian retirees can also take advantage of the residency program and enjoy a peaceful retirement on the Black Sea coast.

Despite the Russian sanctions and restrictions, the interest from our compatriots in Bulgarian real estate continues to grow, which indicates the stability and attractiveness of this market for investments.