Property Rents in Burgas - The Most Rising In The Country In Q3

profit.bg, 2007-11-19

     In Q3 property rents in Burgas were again the most rising in the country, shows statistics by imot.bg. Rents in the coastal city rose nearly 11% in the period. Property owners in the cities on the Black Sea Coast rely mostly on the summer season for their income, and that is why rents always rise there at that time of the year.
     The situation is different in the capital city, where there is no seasonal demand and prices are rising gradually all year long. Rents in Sofia surged 6.3% in Q3. Demand for one-bedroom apartments is the highest, since this is the preferred type of accommodation for most university students and workers, arriving in the capital city in search of better opportunities.
     Rents in Plovdiv were rising at the slowest pace in Q2 and in Q3 they even dropped 6.2%. This makes them similar to those in Ruse. One-bedroom apartment rents in Ruse increased the most – 10.8% in Q3. This, however, is natural, since one-bedroom apartment rents in Ruse are the lowest in the country – 104 euros/month, compared with 212 euros in Sofia, and 240 euros in Varna (-8.4% compared with July).
     Two-bedroom apartments are most expensive to rent in Varna as well. The average rent there stands at 277 euros, versus 273 euros in Sofia. In the capital city rents for this type of accommodation have added 3.1%, which is also the biggest increase among big cities.
     If we look at three-bedroom apartments, the hike is greatest in Povdiv - 11.1% in Q3, followed by 7.8% in Burgas. At the same time rents for three-bedroom apartments in Varna and Ruse declined by 6.3% and 2.7%, respectively. This type of accommodation is most expensive in Sofia, where it costs an average of 374 euros per month.

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