Bulgarian Property Market

Bulgarian real estate market became very popular with foreign buyers at the beginning of the 2000s. During the period between 2000 and 2008 the real estate prices in the country grew 300%. One of the main reasons for that were the expectations that Bulgaria will join the European Union and this happened in 2007. But even before that the Bulgarian real estate market was flooded with British and Russian buyers. The Russians were mainly interested in vacation properties near the Black sea coast and in the ski resorts while the British buyers were also buying houses in the Bulgarian mountain villages. By that time Bulgaria was believed to be "the second Spain" but the global economic crisis stopped this process.