Sofia rents on the up
In the past couple of years rental prices in the Bulgarian capital, Sofia, have risen on average between 8 and 10%, according to the latest statistics. In the last year, the biggest rises were of apartments were in Studentski grad and nearby areas. The most desirable neighbourhoods in Sofia are still in the East of the city.
General inflation and some increases in wages are the main drivers behind the increases.
In August and September there is always a mini rental boom in Sofia. Firstly, because students come back to university and the second reason is the people who have chosen a new job in the capital typically start after the summer. For tenants the best deals are available in the spring.
500 BGN/mth is a typical amount that many apartments rent for and most people are comfortable paying without over-stretching themselves.
Despite the recent rental price rises the future trend is for them to stay relatively steady over the next year.
Please contact us for more information if you have an apartment in Sofia that you need assistance renting out and/or managing.