Where to buy an apartment in Bulgaria to rent it out profitably
Recent studies devoted to the Bulgarian market of real estate show a steady growth of an interest in rental properties. People of different ages and social status start looking for options to rent a house or an apartment instead of purchasing it. This brings us to an idea that it can be an interesting and profitable option to buy new or resale real estate from Apart Estate as an investment. After buying it, you can always offer it for a long-term or short-term rent. This will help you save money and earn some more.
Buy property to offer it for rent
Property near the beach in Bulgaria has always been considered a good investment highly valued by foreign and local clients. Prices are constantly growing, demand too. After rare short-term crises, the market usually stabilizes quickly and shows new opportunities for growth. The key reason for such remarkable stability is the possibility of getting an income renting out your property during summer or year-round.
For many years, foreign and Bulgarian tourists have been interested in apartments close to the sea. Coming to Bulgaria for a vacation, they look for flats for a short stay, on average, for two-three weeks. Thus, the owners can rent their property out during the entire tourist season.
Interest in long-term rent has always been typical for young people, University students and people whose work is associated with frequent moves. In recent years, new client types have been added to these familiar groups – families with children and pensioners. These days all of them look for good quality options, where they can live permanently for several years or even decades.
Apart Estate notes that our clients prefer properties of different types:
- New studio apartments as well as flats with one room and a separate kitchen in residential multi-storey residential buildings of the 1980-1990’s. Among the tenants who are especially interested in such a property, there are students, youth, pensioners, and tourists. They get attracted by a small area, comfortable layouts, low heating costs, especially if the flat has a wonderful location on the south side.
- Apartments with one bedroom are the target of the families who have married recently, students, people who have just got a new job or have been living independently for a while and now want to move to a comfortable and fairly large apartment. This type of property has always been a very popular rental option. So, you can choose it as an investment and will never be sorry for that.
- Two-bedroom apartments, cottages and townhouses are the object of attention of families with kids. They are looking for options where there is a separate bedroom for adults and a special room for kids. If the family has more than 4 members, there is usually an additional requirement for a second bathroom and a wardrobe room.
It is interesting to note that just two-three years ago the interest for large apartments, penthouses and cottages rental was really low. Today, however, many of our clients prefer these properties both for permanent living and short-time vacations. It became an interesting option for weekends, and holidays.
Where in Bulgaria to buy property suitable for long-term rental
If you decide to give your apartment or house for rent for 12 or more months it will be a great opportunity to get reliable income. Monthly payments are not very high; however, you get paid regularly and can count on certain money.
With this in mind, if you cannot decide whether you should purchase real estate in Bulgaria and then use it for earning from renting it out, just put aside your doubts, take a car and choose the best location.
Rental apartments in large and developed cities, for example, in Burgas, Pomorie, or Sozopol are the most wanted. Here, you or your tenants can find a job, go shopping, and use pharmacies all year round. For kids, schools and kindergartens are available. Adults can enjoy nightclubs, cinema, fitness and many other entertainments.
Most clients want to live downtown or within walking distance from it. The Burgas most popular neighborhoods are Vazrazhdane and Bratya Miladinov.
Others target property near universities or offices, for instance in Slaveykov or Meden Rudnik neighborhoods.
Some clients prefer property only in a beautiful place close to the gorgeous Sea Garden or wonderful sandy beaches, and here the undisputed leader is Lazur, Zornitsa and Vazrajdane neighborhoods.
We believe it is important to note that pensioners often choose living in small towns – Pomorie, Ravda, or Chernomorets. When choosing a place where they will feel comfortable, they pay attention to the infrastructure, medical services, availability of walking alleys, possibility to do their hobby and to meet friends and relatives.
Quite a big number of families with children purposefully look for townhouses or cottages where there is a courtyard or a garden. They will be happy to live in a house in a cottage village in Victoria Hills, in Lakhana, or in Sarafovo.
Monthly rental fees range from 250 euros to 1000 euros. The cheapest payments are for studio apartments in remote districts. The highest are for cottages in the Victoria Hills gated community, the village of Kamenar or the Burgas neighborhood of Sarafovo. Payments do not include utilities.
Where to purchase property for short-term rent
If you consider property in a gated community in Sunny Beach, Pomorie, Chernomorets, St. Vlas, Sozopol, Elenite or Nessebar, safely plan short-term rental. Your clients will be tourists who come to the sea for vacation. They want to enjoy their free time, the sea, restaurants, and excellent infrastructure.
Apart Estate recommends acquiring apartments in gated communities where one can use swimming pools, park areas, restaurants, cafes, children's and sports grounds, and parking. These are the Fort Noks living complexes located in different sites in Sunny Beach, Elenite, and Ravda, Green Life in Sozopol, Garden of Eden in Sveti Vlas, Emerald in Ravda or Diamond Beach in Sarafovo.
Such complexes have quite a high maintenance fee that you have to pay every year, but due to the unique services, security, cleanliness and order, you can easily rent out your apartment and make a profit.
Rental payments range from 25 euros per day in July-August for studio apartments to 60-80 euros for flats with one bedroom.
By the way, recently an interest for short-time rental of cottages and townhouses has considerably increased. Vacationers come for a vacation with large families, friends and a desire to find a whole house close to the beach. So, you will not be mistaken purchasing a villa or townhouse in Sveti Vlas, Victoria Hills or Sarafovo.
Bulgarian property has always been an interesting investment which brings profit to its owners. Offering flats and villas for rent, you can always count on receiving income or even organize your own business. Apart Estate agency is ready to propose apartments in Nessebar in the downtown as well as along the coast, in luxury closed communities of Elenite, Burgas, Sozopol and Sveti Vlas, or budget apartments for a long and short-time rent.