It's a bit of a pity: Kirkorov sold 14 of his apartments in Bulgaria
Almost immediately after the start of his career, Russian pop king Philip Kirkorov got rid of most of his luxury real estate in Bulgaria, Izvestia found out. The contractor sold 14 apartments on the Black Sea coast of the country in one day and got almost €1 million for it. Why did the People's Artist need to part with the apartments that he owned for a decade and a half, and what assets he still has abroad, is described in the Izvestia article.
When Kirkorov got a property in Bulgaria
Russian pop stars started buying up real estate in Bulgaria back in the early 2000s. Affordable prices, mild climate and rapidly developing infrastructure of the Black Sea resorts made the country attractive to wealthy buyers from Russia. Philip Kirkorov, who also has Bulgarian roots, was no exception. Until recently, his mother Victoria and grandmother Lydia were buried there, but in July 2026, he transported the urns with ashes to Moscow and reburied them at the Troekurovsky cemetery, next to the grave of Bedros Kirkorov's father.
In 2007, the singer immediately bought 14 apartments ranging from 51 to 185 square meters. apartment in the elite Emerald residential complex, located in the resort village of Ravda on the Black Sea coast. This is evidenced by the documents available to Izvestia. The complex has several swimming pools, a spa center, restaurants and a fitness room, and the owners are promised a guaranteed income from renting apartments. Today, in the secondary market, housing prices in this complex start from €70 thousand per studio area of 40 sq. m. meters.
At the same time, the artist purchased five more apartments in the Port Palace complex in Varna. These are spacious rooms with an area of 134 to 271 square meters, and their total area reaches 1128 square meters. Thus, until recently, Kirkorov owned a total of 19 real estate properties in Bulgaria.
According to the documents available to Izvestia, the purchases were made through two companies founded by the singer in Bulgaria — Philip Kirkorov Investments and F.K. Investment. Later, the artist liquidated the first of them, and reissued the real estate recorded on it personally. The second company still exists — five Emerald properties were listed on it before the sale.
In court documents available to Izvestia, it is stated that Kirkorov financed the purchase of real estate "with a loan taken from his girlfriend Alexandra Zharova, as well as from personal savings."
A lawyer advised the singer to conduct transactions through legal entities: such a scheme made it possible to complete the registration faster, and in addition, it made it possible to claim a tax refund after purchase. It is not known for certain whether the artist used this right and received a deduction.
After the start of the SVR, Western countries began to impose sanctions against Russian stars, which also affected Kirkorov. In April 2022, the Estonian authorities banned the singer from visiting the country until April 2027. In May of the same year, Latvia indefinitely banned the artist from entering its territory.
The clouds over Kirkorov began to thicken in Bulgaria. In 2022, the singer had difficulties with the management company of the Emerald residential complex, Emerald Hospitality. The latter filed a lawsuit against Kirkorov's firm, which owned part of the apartments in the complex. She demanded to collect unpaid property maintenance fees for 2021 and 2022 for a total of BGN 24.9 thousand, or 1.2 million rubles at the current exchange rate.
However, the case did not come to the consideration of the dispute on the merits. The Varna District Court dismissed the case, as it concluded that the proceedings were beyond its jurisdiction.
It is not known whether the management company filed the claim again and how the conflict ended, but on June 13, 2022, Kirkorov sold all 14 apartments in Emerald in one day for a total of € 860 thousand (about 86 million rubles at the current exchange rate). The new owner of the singer's apartment was the same management company "Emerald Hospitality". She acquired ownership of objects designed both personally for the artist and for the F.K. Investment company. Kirkorov sold the smallest apartment of 51 sq. m. for €33.8 thousand, and the largest apartment of 185 sq. m. for €100 thousand. It is possible that due to the desire to sell the property quickly, the singer agreed to prices significantly lower than the market - recall that now even a studio with an area of 40 square meters. m costs from €70 thousand.
Izvestia contacted Ekaterina Uspenskaya, a representative of Philip Kirkorov, for comment on these transactions. She did not answer the questions and requested the text of the publication.
"I'm not sure if you have reliable information yet,— she said.
Experts believe that the artist could get rid of European real estate in order to avoid sanctions risks.
— Philip Kirkorov's decision to sell most of the real estate in Bulgaria since the beginning of his career fits into the general logic of the behavior of Russian asset owners in the EU at that time: many sought to reduce the volume of foreign real estate by transferring funds to a more liquid or less traceable form. There have been no official statements from the artist himself or his representatives about this, so we can only talk about specific motives hypothetically," said Danil Granin, lawyer and managing partner of the Moscow Bar Association Granin, Mentorshev and Partners.
According to the expert, if personal EU sanctions are imposed on a Russian citizen, his real estate in any of the Union countries is automatically subject to restrictions.
— Sanctions imply the blocking of accounts, a ban on purchase and lease transactions, as well as the potential for foreclosure in court. At the same time, European regulators and courts do not always require direct evidence of the owner's connection with the conflict — it is enough to establish the fact of control over the asset or benefit from it. Thus, the situation with Kirkorov's Bulgarian real estate is a special case of a broader trend that Russian asset owners in Europe are currently facing," the lawyer added.
What's left of Kirkorov
The singer did not sell five apartments in the Port Palace, but ordered them differently — in 2020, he pledged €2 million to DSK Bank with a financial interest, according to documents reviewed by Izvestia. Thus, the real estate in Varna remains the property of the artist, but is encumbered by collateral.
— As for the collateral of real estate in a Bulgarian bank in 2020, this could have been done to obtain loans for current needs, refinancing or investments. There is nothing unusual here from the point of view of civil law relations," Danil Granin explained.
The history of these apartments has generally proved to be difficult. In May 2010, the former manager of one of Kirkorov's Bulgarian companies, using forged documents, without the singer's knowledge, reissued two apartments in the Port Palace to a company controlled by him. The scam was discovered, the manager was convicted of fraud, and the property was returned to its rightful owner. A curious detail: the artist was introduced to the conman who later tried to steal his real estate by the then mayor of Varna, Kirill Yordanov.
As follows from the materials of the Bulgarian court, in 2007 Kirkorov decided to buy real estate in his hometown and, fearing to become a victim of fraud, asked the mayor and his wife Elena Valeeva for advice on who to turn to for assistance. They introduced their good friend Plamen Majurov to him as a man who was well-versed in the investment business and whom they could trust. The new acquaintance, in turn, lavished compliments on the singer's talent and declared himself his big fan. It was this "reliable man" who tried to take over the artist's apartment three years later.
The Kirkorov family also has a villa in Florida with an area of more than 800 square meters. As previously reported by the telegram channel Mash, the singer sold the mansion to his daughter Alla Victoria for a symbolic $ 100.
The two-storey mansion is located on La Gorce Drive in Miami. The housing area reaches 734 square meters. There are seven bedrooms and seven bathrooms inside. Adjacent to the house is a plot of 13 acres. There is a tiled swimming pool, a Jacuzzi, a brick and stone terrace, and a passenger elevator.
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