Nadezhda Babkina is worried about her properties in Bulgaria: 4 of her apartments by the sea have fallen in price by almost 3 times
The national artist is seriously worried about her foreign real estate in the Bulgarian city of Ravda. Nadezhda Babkina purchased apartments in the Emerald residential complex, with a view for a profitable investment. But everything turned out a bit differently. The coronavirus pandemic has reduced the price of luxury real estate by almost three times.
Other Russian celebrities have also bought apartments in the Emerald. Among them are Kirkorov, Lolita, Moiseev, Guzeeva and Udovichenko. They all, together with Babkina, plan to sell these properties but because of the sharp drop in prices, it is quite problematic to do it now. At the Secret for a Million TV show, Nadezhda Babkina told to Lera Kudryavtseva that only Vladimir Vinokur has successfully sold real estate in the Emerald on time. A popular TV host, for her part, complained that she also has apartments in Bulgaria.
Massive real estate purchases and unexpected losses
Babkina owns 4 apartments in the Emerald residential complex. Three of them are located next to each other. The apartments’ space varies from 50 to 70 square meters. Apartments’ internal work is standard. There are no marble floors, luxurious furniture or other fancies. Babkina, as well as other artists, bought this estate because of its proximity to the sea and well-developed infrastructure. There are cafes, swimming pools, SPA salons and other facilities on the Emerald’s territory.
According to Nadezhda Georgievna, she is very concerned that she will not be able to sell her 4 apartments profitably. The artist also suggested that the apartments in the complex could be rented to tourists when she was not there. Babkina came to this conclusion after an incident. She came back to the hotel and found the refrigerator with some food inside turned on. She claims that before leaving, she turned off the equipment and it was completely empty.
Nadezhda Georgievna has not been on vacation in Bulgaria for a long time. In summer, her grandchildren are staying in the apartments. Babkina’s son and daughter-in-law are paying for utilities and regulate other issues related to estate maintenance.
Why is it not profitable to sell apartments in Bulgaria right now?
The national artist has a point doubting to sell real estate. This year, real estate prices in Bulgaria have collapsed completely. The fall in the cost of housing can be seen at Larisa Guzeeva’s apartment purchased a few years ago. The property of 165 square meters cost her €220 thousand. A year and a half ago, such real accommodation cost €140 thousand. Today, similar apartments are assessed at €80 thousand. If desired, one can buy a 50 square meter apartment in the same complex for only €26 thousand.
How the price collapse happened
Real estate cost fell in stages. First, the crisis has influenced the drop. Then, there were problems with the management organization due to the falling demand for accommodation. Now, it is the pandemic, which is predicted to reduce the tourist flow to Bulgaria. The celebrities do not intend to sell the apartments at the current prices. Even if they don’t get a chance to spend holidays here soon, they plan to continue paying for the property maintenance, while waiting for the pandemic to end.
By the way, not all Russian celebrities refused to take vacations in Bulgaria. For example, bosom friends Udovichenko and Guzeeva love to have dinners here and swim in the Black Sea in the morning.