Russian “tsunami” at real estate market in Bulgaria

published Tuesday, August 21, 2012 11:23 AM

Radio Bulgaria News

Russian “tsunami” at real estate market in Bulgaria

337,000 physical and corporate bodies from Russia own real properties in Bulgaria, the Russian Euromag publication reads referring to Bulgarian Deputy Justice Minister Denitsa Valkova. According to the publication the figure in itself is quite impressive. Since the crisis began, Bulgaria has seen a retreat of British nationals from the local real estate market, while specialists predict a Russian “tsunami”. Until June 2010 more than 300,000 Russians had bought housing properties in Bulgaria. This implies that for the past two years 37,000 have become owners of real estate, mostly along the Black Sea coast. Russians are also keen on the skiing resorts in this country.

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