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Number Of Russians Buying Property In Bulgaria Doubles

The number of Russians seeking property in Bulgaria had doubled in 2006 as compared to the figures for 2005, Address real estate agency executive director Katya Tsenova said.

High Russian interest in the Bulgarian property market would continue in 2007, Tsenova said as quoted by Focus news agency.

Russians were buying mainly high quality apartments in the Black Sea coastal resorts and in the centres of the bigger cities.

They were planning to spend their vacations in Bulgaria because the Bulgarian Black Sea coast was a familiar destination. Russians also found it easy to communicate in Bulgaria.

Bulgaria's EU accession would have no influence on the Russians' interest in Bulgarian property, Tsenova said.

The only problem they could face was the introduction of visit permits, but owning property in Bulgaria would allow the Russians visit other EU member states.

Tsenova also said that British were still highly interested in Bulgarian property, mostly in coastal resorts. They preferred to buy old houses having big yards.

Bulgaria's northern coast, where golf courses were being constructed, was also popular, she said.