There are no more than 50 Russians left today in the Russian quarter known as “Little Moscow” in Pomorie.

No more than 50 Russians remain in the Russian quarter known as “Little Moscow” in Pomorie, according to bourgas.ru. The real estate market in our country is not the same after the start of the war in Ukraine and the sanctions imposed against Russia, brokers say.

According to Stefka Tomova, owner of one of the largest real estate agencies in Burgas, the situation will worsen if the discussed ban on Russian citizens with tourist visas from managing real estate in the European Union is introduced.

“All this inevitably affects the real estate market. The situation since February is very bad, the Russians, the owners in our country, it is becoming more and more difficult for them to get to Bulgaria. The only way is through Istanbul, but tickets are expensive and hard to find. When we add to this the restrictive regime of banks, it becomes more and more difficult,” says Stefka Tomova.

As for the Ukrainians, some of them were interested in small apartments for rent, but there were no real deals.

Brokers are unanimous that the picture of Russian citizens’ ownership of the sea today is fundamentally different from last year before the pandemic. The COVID-19 outbreak in 2020 hit businesses and cut off large numbers of Russians from accessing their summer properties on the southern Black Sea coast. Thousands of apartments in gated communities in Nessebar, St. Vlas, Pomorie and south of Burgas remained closed.

According to the municipality of Pomorie, by 2020 there were just over 5,000 registered properties owned by Russian citizens.
However, today no one can say exactly how much is left, because the sales process is very dynamic. For two years, most of the houses by the sea were resold by the Russians. The famous area “Little Moscow” in Pomorie is now unrecognizable. There, the Bulgarians massively bought Russian houses, and if 3-4 years ago it was mostly Russians in the neighborhood, today there are practically no Russian-speaking residents here.

A few years ago, newly built residential complexes – mostly closed and with an annual maintenance fee – were inhabited mainly by Russian pensioners.

However, since the end of 2019 and the beginning of 2020, Russians began to leave Bulgaria, and signs with the inscription FOR SALE hung on the houses of their Pomorie apartments.

It was a common practice among Russian property owners in Bulgaria to rent out property for the summer and thereby secure a steady income, but the pandemic has taken away that opportunity as well. Another reason for the outflow, although not so significant, was the reorientation of Russians to Turkish resorts.

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