Romanian crisis brings real-estate prices in Bulgarian Ruse down
14 September 2009
Real-estate prices have dropped by 300 per cent in Ruse, Bulgaria, as a result of the withdrawal of Romanian investors, novinite has reported.
A study by local real-estate agencies shows Bulgaria's Danube city Ruse’s real-estate sector has suffered a great deal from recession in Romania.
Romanian nationals started in 2007 to buy lots of property in the Bulgarian town and drove apartment prices up to 900 Euros per square metre.
Largely because of the withdrawal of Romanian investors, prices have dropped to about 300 Euros a square metre.
Ruse is still one of Romanians' favourite destinations for shopping tours at large retail-chain hypermarkets.
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