Ukrainian buying trend continues whilst Russian interest dwindles

Unsettling times for Ukrainians has triggered a flurry of interest in Bulgarian property and a much needed boast to the market as Russian interest evaporates.

Commonly seeking tangible investments outside of Ukraine and within the EU for under 50,000 Euros options are limited, but with the drivable distance, similar culture and readable language, many decide the Bulgarian property market is the answer for them.

More than a third of NewEstate’s sales so far in 2015 have been to Ukrainian nationals.

With demand to Russians slowing further all eyes are on Ukraine for 2015 sales, indeed already more than a third of NewEstate Black Sea sales are now to Ukrainians despite the collapse of their currency. Recent experience at a Kiev’s major property exhibition proved significant interest from Ukrainians seeking alternative holiday homes to those lost in Crimea, as well as alternative seaside destinations to Russian dominated areas such as Odessa.

Many Ukrainian families are adding relatives to Bulgarian title deeds to enable extended visas (3 months in every 6), whereas others are setting up companies, transferring their business and wealth, buying family homes and emigrating to Bulgaria without intention to return. Tourism Minister Nikolina Angelkova has pledged to simplify visa requirements from Ukrainian nationals in order to encourage tourism and further boost the key Bulgarian sector.

NewEstate foresees Ukrainian demand being the major growth sector for Bulgarian holiday property sales in 2015.

Monument to the Soviet Army - central Sofia, graffitied in the colours of the Ukrainian national flag.