With house prices in Russia going through the roof, many Russians are looking abroad to get a foot on the property ladder. Bulgaria is increasingly becoming the most favoured destination.
In recent years, the price of property in the Russia’s major towns and cities has shot up. It’s no wonder then that Russians are looking abroad – If you compare what you can buy for this money in France with property a few miles outside of Moscow, and then compare the quality of living – you can see that there are lots of advantages in the European markets.
Traditionally the wealthy Russians have followed trends and bought property in the UK and the Med coasts of France and Italy, but now Russians are looking for a holiday home combined with an investment.
For the last two years real estate prices in Bulgaria have risen by 100% and experts believe it will continue growing, meaning there is no place in Europe more attractive for investment than Bulgaria at the moment.
In Russia, an investment in real estate is now seen as a more reliable and flexible investment than any bank deposit. Whether it is for a holiday beach-house or for investment potential, it would be wise to expect more international realtors will be welcoming in the Ruble.