The Bulgarian Property Market in 2016
Lawmaker proposes ban on Turkish real estate for Russian citizens – provides a strong indication of times to come. We doubt any law will actually be passed, however the 10’s of thousands of Russians who are currently considering purchasing property in Turkey must be getting cold feet. Add the thousands who were considering purchasing property in Egypt and a market opportunity arises.
Several facts point to increased Russian demand for Bulgarian property:
- Language and culture
- Visa requirements
Average prices have already been increasing during 2015 and this extra demand will without doubt put more pressure on the market. Time will tell how this pans out.