FT: Russians Find Bulgaria Good Place to Buy Second HomeBusiness | November 30, 2014, Sunday // 21:50| views
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.
Deutsche Welle reported in June that Russian citizens own 300,000 properties in Bulgaria, having invested around EUR 18 B.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!