The crisis on the real estate market affected the British entrepreneurs in Bulgaria. The foreigners who were selling village houses began to go bankrupt.

Recently John Mitchell, who has been living in Bulgaria for years now and has a real estate business, was forced to close his office in the town of Sliven.

"I had to close my office because of the crisis. The downturn is affecting all Englishmen who live in Bulgaria", admits Mitchell. He has a franchise contract with an US company for real estate in Bulgaria but because of the abrupt drop in sales John Mitchell has to close his office.

"The problems of the British, who live here, are not caused by the situation in Bulgaria but by rate of the pound", said John Mitchell. According to him, within the last year his pension has dropped by 30 per cent because of the rate of the Bulgarian lev and the British pound.

"At the time when I and many other Englishmen came to Bulgaria, 1 pound was equal to 3 euros and now it has come down to 2 euros. The rate of the Bulgarian lev and the euro do not change so you cannot feel it, but if you receive a salary in British pounds, it makes difference", Mitchell says.

He explained that in the vicinity of the town of Sliven about 200 British families are living. The majority of the British settlers live in southeastern Bulgaria - near the towns of Elhovo and Yambol. The income of most of them is from pensions or welfare.The financial crisis affected badly a Scottish family from Mamarchevo village near Elhovo.

Gail and Ian very employed by a compatriot, living in the same village, to maintain her garden and house. However, a couple of days ago they have been dismissed and now are unemployed. Bulgarians from the village comment with compassion that the Scotts don`t have even a pension to rely on.

This News is listed at news.Guide-Bulgaria.com

industrial for sale Sliven 160 m2 € 57000

land for sale Sliven 960 m2 € 9120

house for sale Gergevets 130 m2 € 55250

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