30.01.2007 RENTAL PRICES IN VARNA REGISTERED THE HIGHEST INCREASE AMONG BULGARIA'S CITIES

Property Wise Magazine

For the last three months of 2006, rental prices in Varna grew by 28 per cent, Dnevnik Daily reported. Two-bedroom apartments were the most attractive for investors and their rental and sale prices went up significantly. The reasons for such a price hike are the shift in investors' interest towards Varna combined with the general increase of property prices in 2006.

In Varna's neighbourhood Levski the average rental price for a two-bedroom apartment was EUR 123 in 2005. In 2006 the price reached EUR 200.

In Plovdiv, rental prices increased by 17 per cent price for the last four months of 2006, compared to the same period in 2005. The most significant increase is in the rental prices of apartments in Smirnenski and Karshiaka neighbourhoods. Rental prices there reached EUR 230 for a two-bedroom apartment.

Sofia ranks third in terms of rental price increases. Rents for capital apartments went up by 16, 3 per cent. Rental prices of three-bedrooms almost doubled in one year, and reached EUR 650.

In 2007, rental prices will go up with about 10 per cent, Katia Tsenova, executive director of Address Real Estate said, as quoted by Dnevnik Daily.



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