The Russian city of Sochi is losing its competitiveness for seaside property in favour of other countries like Bulgaria, due to high costs. This forecast was made in an article posted on the website of The Moscow Times, a Russian English-language newspaper.
The author claims that a property boom in Sochi after this year’s Olympics is not very likely. Starting prices at the Black Sea resort are close to USD 1,700 per square meter, whereas Bulgarian rivals can boast with half this sum. Read More