The Russians continue to sell off their properties in Bulgaria

Due to the restrictions imposed on Russia by the EU for the war in Ukraine, the Russians continue to sell off their properties in Bulgaria.

According to BNB data, cited by “Sega” for the first 9 months of 2023, Russian citizens sold real estate in our country for a total of 12.7 million euros.

This is a drop compared to 2022 when sales reached twice as high, exceeding €22 million, but nevertheless marks a sustained trend.

Already since 2018, before the start of the Russian invasion of Ukraine, Russians began to sell their properties, the reason for which was mainly problems with servicing the loans for their purchase.

“Sega” notes that the statistics on this matter are incomplete, since before 2018, the requirement to indicate the nationality of the buyer did not appear in the property register.

According to the data of the Registration Agency, from the end of 2018 to the end of August this year, a total of 7,472 properties were purchased by owners who were Russian citizens – individuals or legal entities.

The largest number is in the Burgas region – 5,298, while another 997 are in the Varna region. Apart from this, 463 properties of Russian citizens are located in Blagoevgrad region, 214 in Sofia, 96 in Plovdiv, 80 in Smolyan and 17 in Dobrich region.

However, it is believed that the real number of real estate owned by Russian citizens is many times greater, especially along the Black Sea.