Real estate broker

Foreigners residing for a long time in the southern province of Antalya have started to work illegally as real estate agents to sell or rent properties with a 10 percent commission through social media groups amid the increasing demand of Ukrainians and Russians to reside in the city.

Russians with properties on the Bulgarian Black Sea coast are now selling them en masse. Their withdrawal from the market is not because of the coronavirus, but because of the depreciation of the Russian ruble, according to brokers quoted by Trud.

All those wondering these days if they can afford the luxury of buying an apartment in Belgrade, which according to one research is the fourth most expensive European city in terms of real estate prices in relation to the average income, have no reason to worry. As explained from real estate professionals, the methodology according to which the research was done was quite questionable.

Apartment transactions in parts of Athens, including the center, are expected to soar in the next few months - with prices set to jump too - as the Greek residential property market has become the focus of dozens of foreign real estate agents, as well as Chinese travel agencies.

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.

Rents in Sofia are rising on average between 8 and 10%, according to real estate brokers. In the last year, the biggest rises were of the rooms in Studentski grad, Nova TV reported.

The boom in Sofia is in August and September, experts say. Firstly, because the students come and the second reason is the people who have chosen a new job in the capital.

A record $31.7 billion was spent by the Chinese on US residential real estate in 2016, keeping their leading position regarding dollar sales for the fourth consecutive year, according to the National Association of Realtors (NAR).

The figure was more than ten percent up from the $28.6 billion in Chinese investments in the sector in 2015.

Police in Athens have arrested three men aged 46 to 69 who are believed to have blackmailed and threatened property buyers into paying them the commission for real estate purchases.

The racket, which authorities said has been active since 2006, allegedly threatened contractors, real estate agents and potential buyers into doing business with them rather than with another agents.

The sales of Bulgarian seaside real estate to Russian citizens has dropped by 30% since end of July, reports the Nova TV national channel. 

According to real estate brokers, the story with the British buyers repeats – suddenly the interest of Russian buyers dissipated and some of the owners are already trying to sell. 

By Nikos Roussanoglou

The sector of real estate agents is particularly prone to social security contribution evasion and to undeclared labor, as according to data from the Hellenic Federation of Realtors (OMASE), the number of illegal agents is actually higher than that of the legal ones.