Investments in Bulgaria for Rentals
The market might be slowing down in many countries, but an investment in property in one of the larger cities in Bulgaria is still a lucrative one when you consider the facts. Bulgaria’s four biggest cities, Sofia, Varna, Plovdiv and Bourgas have seen a real growth in property investment in 2008 due to the sharp increase in demand for property rentals. Figures show an increase of 12% in the rental market in the latter periods of 2008 and a 14% increase of two bedroom apartments. Prospective clients are generally unconcerned whether the flat is in a newly constructed building or in a relatively old one. The main factors in making their decision is whether the flat has undergone recent refurbishment and whether it has the necessary appliances. The figures therefore suggest that the trend is for longer term renting by families rather than holiday rentals. This is also backed up by the reduced interest in smaller one roomed apartments.
Three-room flats are also on the up, recording a three per cent raise.
The city with the highest increase is Varna, up 13%, perhaps because of the amount of new investment of business into the town or because of foriegn investors that can find property in the town but still be close to the beach. Student rentals is also a reason for investment in apartments here with the university in Varna centre. Sofia has also seen a rise, up 8% mainly in residential areas, such as Lozenetz, as well as the large residential boroughs of Mladost and Lulin.
If you are looking for a longer term investment in residential property, contact W.B.P now and let us, with the aid of our associates in Sofia and Varna, help you find the perfect rental property. Not only can we find the apartment for you, we can also assist in the purchase and legal practises. Properties such as these do not remain on the market for long, and finding the property can be a difficult one. We can find properties on the market and ready for viewing, send us your requirements and let us do the searching. We will also organise your viewing trip, so be prepared to travel as soon as possible so not to lose the opportunity. Contact us for your property in Bulgaria.
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