Rental prices in Sofia reduced
Since the capital Sofia is among the cities with the greatest number of apartments offered for rent, which includes a wide variety of layout and sizes, type of the construction and living standards. At present, most of the rental apartments are to be found in the neighborhoods "Students City", “Vitosha", "Darvenitsa", "Goce Delchev","Monasterski Livadi", but also in neighborhoods such as “Ivan Vazov” and “Lozenets”. Many apartments for rent are also offered in the districts of “Borovo”, "Belite Brezi”, and "Strelbiste". The offers are mainly of newly built apartments with one or two bedrooms with living area of 80 sq.m, which are offered furnished for a monthly rent of approximately 250-400 Euro. In cases when the apartments are not furnished or are in less popular areas of Sofia, the monthly rent is significantly lower.
The demand for rental apartments in the capital can be divided into two main types. Rental apartments in Sofia are searched for by foreign tourists who come on short holidays in Sofia or business people and managers who plan to develop the local brunches of the companies they work for abroad and consequently they stay in longer. These people are focused on the holiday rental apartments in Sofia for many reasons – large living space, freedom, convenience, fully furnishing, reasonable price and of course central location thanks to which they can visit the main landmarks of the city and also the business centers and administrative areas. Rental Sofia apartments are also searched for by locals, mainly young families, students and professionals who work in the capital, but are unwilling or unable to purchase own apartment for different reasons.
The data of the real estate companies shows that for the first four months of the year the rental prices of apartments in Sofia have fallen down by more than ten percent. Brokers, however predict that this process will stop as during the rest of the year the supply of such properties in Sofia will be reduced, while the demand will remain high. Apartments for rent there are also searched for in the areas served by the underground transportation system.
