Bulgaria continues to be an investment target for Russian investors.
“Regardless of the economic crisis, Bulgaria remains an investment target for Russian investors”, reads s statement by Alexander Romanenko, made after the inauguration of the joined forum of FIABCI and the Central European Real Estate Associations Network (CEREAN), hosted in Sofia, Bulgaria.
During the last two years Russian investors of middle class tend to primarily invest in Bulgaria, mainly purchasing properties in the Black Sea Coast area as a second home.
Neither the financial crunch, nor the latest developments around the scandal with the “Alma Tour” tour operator have changed the opinion of the Russian investors, that Bulgaria is an excellent place for business, recons the president of the FIABCI.
Unfortunately, investors still have very limited information about the possibilities, that Bulgaria can offer. “This is the purpose of this congress – to show people, that business can be booming not only around the Black Sea Coast”, said Romanenko.
“There are a few resorts with excellent opportunity for the growth of balneology. A good example is the town of Sandanski. Local authorities however should work hard to make the town more recognizable to foreign investors. If the right marketing strategy for the development of the city is put in place, investors will definitely come”, he claims.
Being asked the question whether the scandal with the stranded Russian tourist at Burgas airport will cool down the investment interest of Russians towards Bulgaria, Alexander Romanenko described the case as “unpleasant”, but a “single situation”, which will not be taken under consideration by investors. “Every serious investor makes his investment plans for two years ahead as a minimum, not from today for tomorrow”, was his laconic, but fair-spoken commentary.
According to Romanenko, the Russians realize the fact, that Bulgaria is a Eurozone candidate, and the practice in Europe shows, that each country, that joins the zone, sees an increase of property prices as a minimum of 10%. Now is the moment for the Russian investors “to catch the last train” and purchase real estate at bargain prices. |
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5 October 2011 |
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