How many Russians have property in Bulgaria

Around 300,000 Russians have property in Bulgaria, according to the last year`s official data in the real estate market.

40% of the Russians have bought holiday property in Bulgaria. Every fifth Russian has bought property with the idea of starting business in Bulgaria. 15% of the Russian buyers have bought houses and apartments for permanent residence.

According to the Bulgarian ambassador in Russia-Boiko Kocev, most of the apartments and houses are bought in the resorts along the Black Sea coast and the rehabilitation resorts- Sandanski, Bansko and etc., a small part in Sofia and Plovdiv.

Earlier the magazine "Homes Colection" published research which shows that Bulgaria remains the most popular country to Russian buyers of foreign real estate. Second was Spain, third-Italy. According to experts 80% of respondents are looking for property in the countries that enter in the top ten rankings.

Analysts believe that prices of Bulgarian properties have virtually reached the bottom. At the end of 2011 houses` prices in Burgas fell to 860 euros for a square meter. In the second largest city in Bulgaria Plovdiv, the prices were almost 770 euros.

According to National Statistic Institute in 2011 property prices have decreased with 6% compared to the previous year.