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Rental demand up in Bulgaria
Country: Bulgaria
3 December 2008
Falling Bulgarian property prices are being offset against rising rental demand in the country’s four largest cities - Sofia, Plovdiv, Varna and Bourgas – according to data compiled by property agency Address.
The company’s research shows that there has been a sharp rise in demand for rental accommodation due to the impact of the global financial turmoil and the subsequent fall in demand for property in Bulgaria to buy.
Statistics compiled by Address show that between January and October, the major trend in the property market was shifting towards rentals, culminating in growth of 12% during that period, with the greatest demand being for two-bedroom apartments.
The greatest increase in demand for rental accommodation was witnessed in Varna (+13%), followed by Sofia, Plovdiv and Bourgas.
Capital growth in Bulgaria’ shousing market has slowed sharply to just 3%, according to the Knight Frank’s latest Global House Price Index.
Browse other Bulgarian property news stories, read articles about investing and buying property in Bulgaria or view our range of property in Bulgaria.
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Price: £3,322
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