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Sofia apartments yield 5.4% average rental return
Residential properties in Sofia currently offer average rental returns of 5.4%, Bulgarian Properties has said.
This compares with average interest of about 1% earned from deposits in local banks, according to central bank data, the Sofia-based real estate agency said on Tuesday.
The number of property deals in Sofia has increased by about 30% this year and residential property prices have grown by about 6%, according to data compiled by Bulgarian Properties.
The increase reflects an “upturn trend after several years of stagnation” and provides “opportunities for capital gains in the medium to long term,” the company said in a statement.
Monthly rents for one-bedroom apartments in Sofia are in the range of 300 to 550 euro, according to the real estate agency. For two-bedroom apartments, monthly rents vary between 400 and 800 euro. Rents for large apartments start from 900 euro.
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