Are Russians Selling Their Properties in Bulgaria? Market Trends, Prices, and Money Transfers

In recent years, the question of Russian property owners in Bulgaria has become increasingly relevant. From holiday apartments on the Black Sea coast to residential properties in major cities, buyers and investors are asking the same questions: Are Russians selling their properties in Bulgaria? Are prices lower? And how do sellers transfer the proceeds to Russia under current banking restrictions?

This article provides a clear and realistic overview based on current market practice and broker experience.

1. Are Russians Selling Their Properties in Bulgaria?

Yes, a noticeable share of Russian property owners in Bulgaria have decided to sell, especially over the past few years. The trend is most visible in vacation properties along the Black Sea coast, where Russian buyers were particularly active in the past decade.

The main reasons behind these sales include:

• Economic uncertainty and rising maintenance costs

• Limited travel possibilities and reduced personal use of the property

• Changes in international banking regulations and sanctions

• A desire to liquidate foreign assets and move capital closer to home

That said, it is important to note that this is not a mass sell-off. Many Russian owners are not under pressure to sell and list their properties only when market conditions are acceptable.

2. Are Properties Being Sold at Lower Prices?

A common misconception is that Russian owners are selling at “dump prices.” In reality, most properties are offered at market-level prices, especially when they are in good condition and located in attractive areas.

Typical price observations:

• Holiday apartments on the Black Sea coast are often listed between €900 and €1,500 per sq.m, depending on location, building quality, and amenities

• Prices generally follow the overall Bulgarian property market rather than being heavily discounted

• Motivated sellers may show more flexibility during negotiations, but extreme price drops are rare

For buyers, this means there are good opportunities, but not unrealistic bargains. Well-priced properties still sell relatively quickly.

3. How Are Sale Proceeds Transferred to Russia?

One of the most sensitive topics for Russian sellers is how they receive the money from property sales, given international banking restrictions.

Based on current practice, there are working and legal solutions.

Bank Transfers via Intermediary Banks

• Some European banks still process transfers to Russia through intermediary (correspondent) banks

• Banks such as Raiffeisen Bank are commonly used in these transactions

• In many cases, funds reach the Russian bank account within one business day

• Transfers are subject to enhanced compliance checks, but are successfully completed when properly structured

Alternative Transfer Solutions

When direct transfers are not possible, sellers may use alternative approaches:

• Opening a bank account in a third country (such as Turkey or certain CIS countries) and transferring funds from Bulgaria there first

• Using established legal and financial advisors who are experienced in international real estate transactions

• Temporarily holding funds in an EU bank account before final transfer

Each transaction is assessed individually by the banks, so professional guidance is strongly recommended.

4. Practical Advice for Buyers and Sellers

For Russian sellers:

• Choose banks with experience in international transfers to Russia

• Prepare all documentation clearly to pass compliance checks smoothly

• Consult a real estate agent and legal advisor before structuring the payment route

For buyers:

• Properties owned by foreign sellers can offer better negotiation potential

• Focus on listings that have been on the market longer

• Work with agencies that understand cross-border transactions and documentation

  
  

Conclusion

The Bulgarian property market is currently seeing a steady but controlled flow of properties offered by Russian owners. While there is no mass sell-off or dramatic price collapse, motivated sellers do exist, especially in the vacation property segment.

At the same time, money transfers from property sales to Russia are still possible, often quickly and successfully, when handled through the right banking channels and intermediaries.

For both buyers and sellers, the key to a smooth transaction lies in professional support, realistic pricing, and correct financial structuring.