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Russians Find Bulgaria Good Place to Buy Second Home

1 December 2014

Bulgaria has become a popular destination for middle-class Russians to buy a
second home, the Financial Times wrote on Sunday.

With long-term residence permits easy to obtain, an estimated 400,000
Russians currently own properties in Bulgaria and a growing number are becoming
year-round residents, FT’s
Kerin Hope quoted Mihail Chobanov, head of a Bulgarian real estate agency,
as saying.

Another benefits of Bulgarian residency for Russian nationals include easier
travel elsewhere in the European Union as well as obtaining a degree at a
Bulgarian university as a first step to qualifying for a job in western Europe
or the US, the article said.

Welle reported in June that Russian citizens own 300,000 properties in
Bulgaria, having invested around EUR 18 B.

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