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Right Place to Rent? - Rental Income

Rental Incomes. Prices vary dependant on facilities and locations and the term of the rental contract. Long-term rentals guarantee regular monthly income, but they yield less than short-term rentals. Luxury two-bedroom city apartments in good neighbourhoods and with pleasant views can yield around 700 euros per month in rental income in Varna and anything from 900 to 2,000 euros a month good quality in a prime location in Sofia.

A country villa with accommodation for 10 people and a pool area will yield around 800 euros a week during the holiday season, but is liable to remain vacant when the season closes. Studio apartments rented out in resorts during the peak season can yield incomes of 270 euros per week and up to 38 euros per night, a one-bedroom apartment 350 euros per week and 50 euros per night and a two-bedroom 420 euros per week 60 euros per night. Most rental agents in Bulgaria charge around 30% of the total value of the booking.

The new low cost flights from a host of European destinations is likely to fuel more increases in the holiday rental market as is the growth in year round tourism fuelled by the opening of new golf courses. City rentals will continue to increase as more foreign companies set up business here and create jobs for qualified staff from other regions.

Hotspots are quality city rentals in Sofia, Plovdiv and Varna and frontline beach apartments. Areas to watch are golf spots and ski towns with access to golf courses.

Top Rental Tips

  • Long-term lets are the safest bet if you want regular income with minimum hassle.
  • Use a reputable agent, but check up on them if they are looking after your holiday lets - there are too many stories about agents letting property without telling the client.
  • Research what are the best areas for rentals. Ask around the letting agents, contact other expats through the internet, ask if an agent has a potential renter for your property, and look in local papers to determine local rents - get a Bulgarian friend to help you.
  • Check accessibility, who flies in to your area, who will be your target clients?
  • Which companies are setting up business or expanding business? They will be key targets for the city rental market.
  • If renting your property becomes problematic, could you afford to keep the property as a long-term investment? Would you visit the property if it were not rented out?
  • For city rentals, check the ease of access via public transport particularly in rush hours.