News

Small housing rents in Bulgaria go up

As of the beginning of 2004, brokers registered a higher demand for luxury flats on the part of foreign citizens, who live in Bulgaria. The higher interest was recorded in Sofia and Burgas, on the southern Black sea coast. The monthly rents for luxury flats in the centre of Sofia range between 500 euro and 1,200 euro.

Due to eager interest in the purchase of houses, the selling prices in most Bulgarian cities hit record height in 2003. Yet, the rent segment on the real estate market remained somehow relaxed. The number of the buyers exceeds the number of the renters even at the beginning of 2004. Some brokers forecast the rise in rents would be higher than the rise in the selling price of houses. Other brokers said that if the higher interests in buying a house remained, the rents would keep their current levels and would probably slope down.

Bissera Staneva