Russian demand for seaside properties at all-time high|
2008-04-21 12:57 News from News.bg
Clients from Russia and former Soviet satellites are in part compensating for the drop of demand from British buyers, who helped form this market 4-5 years ago.
According to Joseph Halber, managing director of ACR Hotel Experts, the similarities between languages and the historical connections between Bulgaria and Russia are the main aspects attracting Russians.
Dimitar Savov, CEO of Bulgarian Land Development (BLD) investment fund, opposes the tendency of focusing on Russians as clients. Bulgaria has always shifted between extremes and now businesses want to go from 95% Brits and Irish to 95% Russians, he says.
The number of Romanians buying properties in Bulgaria is also on the rise. Savov said that BLD signed 15 agreements with Romanian clients in the past few months. Bulgaria should be oriented to markets that are close to us in terms of mentality like Poles and Czechs, said Savov.
He just returned from a real estate forum in Dubai and spoke of interest in Bulgarian properties on the part of buyers from that region, but there are certain obstacles associated with our market, which must be overcome first. He added that we must focus on improving the quality of our products and shedding the image of a cheap destination. When the property market segment began to develop a lot of Brits purchased real estate, but many were cheated by small agencies.
Halber stated that we must focus on wealthier clients. You cant make money from poor clients even if sales volumes are high, he said. There will always be cheaper countries, like Moldova.
He speaks of three main factors, which attract property buyers: something they lack in their home country (sun in Britain), proximity of the destination (Bulgaria is 3 hours away from Western Europe by plane, but so are other Eastern European countries) and location the property must be close to an airport.
He believes that Bulgaria must take advantage of its historic wealth and cultural heritage. We must develop tourist centers in areas known for Thracian heritage, as is the case with Greece. Halber adds that Plovdiv could develop into a very attractive destination (for travel and business in general) if there were an airport nearby, which could be served by one of the European low-cost carriers.
This News is listed at news.Guide-Bulgaria.com
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