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VIDEO Bulgaria's real estate market: Romanians invest in apartments at the seaside

de A.C.
Vineri, 25 iulie 2008, 14:51 English | Business

Apartments for sale in Bulgarian seaside resort of Golden Sands
Foto: Hotnews
Dozens of Romanians have bought luxury apartments in famous Bulgarian seaside resorts. With only 75,000 euro the price for a one room apartment in Bucharest, people can buy two for this price in one Bulgarian seaside resort, Golden Sands. Another option in Bulgaria is in Ruse, the closest city to the Romanian border south of Bucharest, where a house is sold with 5,000 euro. In Ruse real estate agents complain that Romanians doubled the household prices. Even so, the most expensive apartments there do no exceed 60,000 euro.

In Romania, Bulgarian households can be purchased through the real estate company Bulgariainvest. Director Andrei Muresan says that so far his company sold 50 apartments in Sunny Beach and Golden Sands - top destinations on the Bulgarian seaside.

Romanians who bought an apartment over there declare that they now have a house for holidays but also a very good investment. They declared that they might even consider renting or selling, depending on how the market changes.

In Ruse, Romanians invest in houses. Aleksander Iordanov and his family own the oldest real estate company in Ruse. He declared that in the last period, he sold dozens of properties to Romanian customers.

He adds that those buying do not live there but they consider that in a few years, they will be able to sell at a better price and earn some good profits. The area has great potential, especially that more and more Romanians are tempted to buy there. Even now, there are some 2 million Romanians who would rather shop in Ruse than in Romania.  

Watch a short film on Bulgarian real estate offer (in Romanian):

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