Foreigners Buy Off Entire Village in the Balkan Range

Team of Standart Daily, 2004-12-27

     Real estate deals reached a record high in 2004, according to real estate agents. Most of the buyers are from the UK. According to the BBC, some of the UK-based banks even lent loans for acquiring immovables in Bulgaria.

     In 2005, an expansion from the Middle East is expected. The greatest interest shown is in villas and land at the northern seaside. Englishmen bought 20 old houses in Gurkovo village with the last deal sealed at 30,000 euros per immovable. A total of 100 houses has been bought by Englishmen and Russians in the region of Kavarna coastal town.

     A British colony was set up in Kableshkovo, between Burgas coastal city and the Sunny Beach resort. Englishmen are buying real estates in the Balkan Range nearby Veliko Tyrnovo town with some of the deals worth 50,000 euros each. In Sarafovo, dwellings on the waterfront sell at 750 to 1,000 euros per sq. m. The same is the case in the St. Vlas seaside resort. The prices in Sunny Beach and Elenite keep their traditional high rates with built-up area there selling at 2,000 euros at the least.

     20 Scotch families are willing to buy houses in the Ustrem village in the Sakar mountain. A house there sells at 10,000 to 12,000 levs on the average and when the houses have adjoining yards, the foreigners are ready to pay even 20,000 levs. Some 100 houses have been bought by UK citizens in the region of Topolovgrad town this year.

     Most of the foreigners will spend their summer holidays in the houses, just few of them intend to settle here.

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