Property Expert: Russians Won't Fill Bulgaria Real Estate Gap

Bulgaria real estate expert Shtelyan Kalchev said Tuesday that it is unlikely that Russian investors will be able to fill the gap UK buyers have left in the Bulgarian property market.

Kalchev suggested that "Russian investors are currently very active on the seaside and with other large projects but they can not make up for the lost EU, mainly UK buyers who spent a large number of normally EUR 25-40 000 sums that contributed hugely to the country."

In an exclusive interview for novinite.com Kalchev continued that "some investors have decided that this is the perfect time. They are thinking; I don't want to wait 6 months and kick myself having missed an opportunity. Prices have dropped 15-20 % nationally, young families therefore have a once in a life time chance to get their dream home."

He went on to state that he is "very concerned about the image of Bulgaria abroad. The ton of bad media coverage can't often qualify as objective and there is more than a little manipulation in this respect. UK buyers are still looking and some of them buying, as there are great bargains on the market. I am sure though that Russian investors won't fill the gap UK investors have left in the market."

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