Real estate sales by Russian citizens in Bulgaria have been completely stopped and claims that Russians were selling cheaply their properties on the Black Sea coast are untrue, experts say. With the ban on bank transfers to Russia, as well as on transfers from Russian to Bulgarian bank accounts, such transactions can not be carried out.
There has been a steady trend since 2014 for Russians to withdraw from the real estate market in this country. According to real estate companies, after the annexation of Crimea and Vladimir Putin's call on government officials to refrain from buying property in Bulgaria, the first wave of sales of Russian apartments by the sea started.
The pandemic crisis, inflation and the collapse of the Russian ruble made the trend grow, as life in Bulgaria proved too expensive for Russian citizens.
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