Rising rents in bulgaria

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 per cent 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 per cent), followed by Sofia, Plovdiv and Bourgas.

Capital growth in Bulgaria' housing market has slowed sharply to just three per cent, according to the Knight Frank's latest Global House Price Index.

Source: www.homesoverseas.co.uk