Demand For Apartments For Rent Near Universities In Bulgaria Increases

The rental market in Bulgaria is expected to experience substantial growth in the second half of August and the beginning of September 2007.

Outside the central parts of Sofia and the other big towns in Bulgaria, which usually have high demand for rental apartments, the interest in apartments for rent near universities has been also increasing, 24 Chasa daily reported.

Sofia’s top ten most preferred residential complexes include Dianabad, Mladost, Geo Milev, Durvenitsa and Musagenitsa according to real estate website imot.bg.

Studentski Grad, where the campuses of the universities in Sofia are located, ranks tenth in the list. The supply in the residential complex has been low for years despite intensive construction.

Offerings in Durvenitsa and Musagenitsa, located close to Studentski Grad, are also insufficient because prices are very high.

Market segmentation among rental apartments is larger compared to those offered for sale. In some regions of Sofia rental prices increased by 15 per cent in 2007 while others experienced a price decrease.

Most popular among buyers are two bedroom apartments, second rank three bedroom apartments followed by one bedroom apartments.

Mainly young people aged between 23 and 35, who live alone, are interested in one bedroom apartments.