Numerous closed sites on the Black Sea coast, Russians are selling their homes en masse


Burgas welcomed the year with a number of closed retail outlets that are for sale or rent.

In the seaside town there are more than 15 ads for iconic sites in the center - including a piano bar, until recently revolving restaurants, cafes, pastry shop.

Among the expectations in the industry are private bailiffs to announce the sale of hotels and even a private clinic in Sunny Beach due to bankruptcies.

"Definitely increased sales of retail outlets, hotels and restaurants, including," says broker Nikolina Dimitrova. However, there are no buyers for these plots, the industry reports.

Russians who have bought property on the Black Sea coast are selling their homes en masse. However, their withdrawal is not due to the coronavirus, but for economic reasons, brokers believe.

"There are some who have taken out loans there to buy here. And by spending the loan in rubles and euros, it is unprofitable for them. And they are somewhat deluded that with these apartments here they will be able to earn ", says Petya Simeonova, a resident of Pomorie.

90% of the apartments are currently locked and for sale, and the probable reason for the outflow, apart from the lockdown, is the fall of the Russian ruble. "Over 5,000 apartments have been bought by Russian citizens, but in this situation a low tide has begun and Russian citizens are already announcing their apartments for sale.

But the more important thing is that Bulgarians are interested in buying a property in Pomorie, because the city, apart from the sea, sun and sand, has something else that is not found anywhere else, it is the healing mud ", says the mayor of Pomorie Ivan Alexiev.

While the Russians are withdrawing from the real estate market, however, Bulgarians are investing boldly in real estate with savings. The industry reports a serious interest in buying spacious homes in urban conditions, and even more land by the sea near the city.

"On the Black Sea coast, I would say that the most sought after in Burgas. This is a city that is concentrated in demand almost everywhere. They may be foreigners, they may be from Haskovo, they may be from Yambol from anywhere, the city is beautiful, well located between the southern and northern Black Sea coasts. So, I would say that if we look at the Black Sea coast, the biggest demand is in Burgas ", says the broker Velina Vasileva.

The expected entry into the eurozone has led many Bulgarians to invest in real estate. Although 80% of home purchases are with a mortgage. "The search was directed mainly to Sozopol, we do not rule out the deals that took place in Pomorie, in Nessebar," say brokers.

Many Bulgarians are worried about the devaluation of their money and prefer to invest their savings in real estate. "The other goal is to rent for investment. Because property is such a commodity that never loses its price like gold, "say the industry.

They also report the lack of the British, who traditionally bought rural properties in Strandzha. In recent months, only one German citizen has bought a house in Sozopol. But the interest of Turkish citizens, whose desire to buy a property in Europe is mostly business, is impressive.