28 April, 2010
While wealthy Russians have accounted for a large portion of Bulgarian property purchasers, it is no longer just this section of Russian society looking to buy a property in Bulgaria, reports leading property portal HouseSalesBulgaria.com. A recent piece in the Russian newspaper Pari Daily highlighted that less wealthy individuals in Russia are now also buying Bulgarian property, particularly older people.
The article in Pari Daily, which appeared on April 22nd 2010, reported that the predominant sector of Russian society currently snapping up Bulgarian properties is people aged between 50 and 60 and from a lower to middle level of wealth and class. The average Russian now looking to buy a house in Bulgaria is an ageing holiday home purchaser, no longer the wealthy individual adding to a burgeoning property portfolio. There are, apparently, a number of reasons behind this. First, many Russians in that age group once holidayed in Bulgaria as a child and are keen to relive those happy memories in their later years. Second, they are attracted by the Bulgarian culture which they find pleasingly similar to their own, and they like the fact that the language barrier is not a problem, as it can be in other European countries. Finally, they appreciate the value that buying a property in Bulgaria represents: they can buy Bulgarian property for much lower than just about any other (comparable) property in Europe.
The article goes on to state that most people seeking to sell Bulgarian property are targeting this growing market, although there are still a good number of sales to wealthy Russians. Of course, it is not just Russians who make up purchasers of Bulgarian property, as the article pointed out. There are purchasers from the UK, from countries neighboring Bulgaria, and even those from countries as far flung as Australia, the USA and China.