The Properties by the Sea: The Russians Leave, the Westerners Come

French, Germans, Belgians and other residents of Western Europe are asking to buy property on the Bulgarian Black Sea coast. At the same time, real estate developers registered a drop in the number of Russians investing in holiday properties on the Black Sea coast.

The reason for the interest of Westerners is the declared intention of the government that our country should enter the Eurozone waiting room, say brokers. They explain the outflow of Russians, especially with the ongoing economic sanctions against Russia.

Growth of inquiries from French, Belgian and Swiss for purchase of property for holiday in the region of Bourgas and Sunny Beach is reported. This was explained by Deputy Head of the Association of Real Estate Brokers Iliyana Vassileva to Trud.

She also said that Turkish investors have appeared in Sunny Beach who are looking for luxury properties. Buyers are also Bulgarians who have saved money from work abroad and want to invest in a holiday home.

Interest in buying home in Bulgaria continues to be demonstrated by German pensioners. Recently they are heading to Varna.

"They like it here, in Bulgaria, the standard is good for them, but because of the language it is more difficult to socialize," said Deputy Chairman of the National Real Estate Association Deputy Dobromir Ganev.

He explained that because of economic sanctions against Russia and the aggravated situation there, its citizens are no longer the most active buyers of such properties in Bulgaria. And their return to this market is not expected soon.

Because of the outflow of Russians there is a drop in transactions in 2017 compared to the previous year. Sales in Balchik are 11% lower, in Byala - 18%, in Kavarna - by 14%, in Nessebar - by 2% and only in...