Russians buy up resorts in Bulgaria and Montenegro

news.bg, 2007-07-31

     Lately the Russians prefer the Balkans especially Montenegro and Bulgaria, when refers of buying villas or apartments in a resort. Russians' interest in the first six month of 2007 was attracted by destinations like Spain, Turkey, the Czech Republic and Cyprus. But the real hits were Montenegro and Bulgaria.
     Compared to the last year's interest, the search of properties in Bulgaria and Montenegro increased almost twice.
     In the Western Balkan country the Russians are the most important investors. In Bulgaria they are on second place, right after the British investors.
     The Russian parvenus are attracted from the low outlays of life in high quality. Russian media comments: The population of the two countries is historically treating well the Russians; the investment climate in here is quite mild.
     But the prices are increasing extremely. Two years ago the price of sq m in Bulgaria cost 600 - 800 EUR. Now the sums go round 1,000-2,000 EUR. In Montenegro the prices became even higher - 2,500-3,000 EUR.
     'Sunny Beach' and 'Golden Sands' resorts are the most profitable in Bulgaria, the Budvanska Rivijera is the Montenegro's hotspot, advises the Russian media.
     Those who prefer more picturesque and quiet places go to Bulgaria's Balchik (North seaside) and Sozopol (South) or the Montenegro's Bay of Kotor.

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