Rental demand up in Bulgaria
03 December 2008
Although property prices in Bulgaria have fallen in the wake of global financial crisis, rental demand in the country’s four largest cities - Sofia, Plovdiv, Varna and Bourgas is on the rise according to the latest research 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.
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