Банкеръ Weekly

Briefs

RUSSIAN FIRMS TRADE IN REAL ESTATES ALONG THE BLACK SEA COAST

Over the last two years more and more Russian buyers come to Bulgaria with the intention of acquiring housing on our seaside. Several dozens of specialized Russian websites offer real estates, mostly in the new resorts which are under construction along the Black Sea coast. Suites in the Nessebar Fort Club in Sunny Beach, for instance, cost some EUR600-800/sq. m. Currently, only medium-size flats of about 60-70 sq. m built-up area are offered. Of course they have a kitchen box, a bedroom, a bathroom and WC, and a terrace. The windows of the more expensive flats look out on the sea, but they have been already bought out, the real estate agency selling properties in the resort specifies.
There are also other opportunities. The Rubicon 70 complex in Sozopol is actively offered on the Russian market. Maisonettes of 124-135 sq. m can still be purchased there, but their price is EUR1,000/sq. m. Notably, Russian buyers are keen on the view from the apartment's windows and terraces. It turns out that the top storeys of buildings in the resorts - usually the 3rd and 4th floor are sold out much quicker than the first floors because of the beautiful panorama to the sea. Therefore, most of the offers contain the view from the flat's windows as an obligatory element.
The data from real estate agencies show that the cheapest property on our seaside, offered on the Russian market, is that in the small town of Byala, the average price of a finished apartment being around EUR600/sq. m. Prices for larger suites in that region are usually negotiated between buyers and sellers, Russian agents add. That is done in order to specify the condition in which the buyer wants to get the flat, furnished or not, with designer solution, or just with a first coat on the walls and cement floors.

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