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Aug 03, 2013

Rental yields are moderate in Sofia, Bulgaria


Last Updated: Aug. 03, 2013
SOFIA CENTRE - Apartments COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
60 sq. m. 62,280 239 4.61% 1,038 3.99
75 sq. m. 72,825 296 4.88% 971 3.95
90 sq. m. 87,840 339 4.64% 976 3.77
120 sq. m. 128,160 498 4.66% 1,068 4.15
200 sq. m. 215,800 1,074 5.97% 1,079 5.37
SOFIA SUBURBS - Apartments
60 sq. m. 42,360 223 6.32% 706 3.72
80 sq. m. 48,640 271 6.69% 608 3.39
100 sq. m. 76,200 307 4.83% 762 3.07
120 sq. m. 96,000 372 4.65% 800 3.10
200 sq. m. 174,000 762 5.26% 870 3.81
SKI RESORTS- Apartments
50 sq. m. 27,900 n.a. n.a. 558 n.a.
70 sq. m. 45,500 n.a. n.a. 650 n.a.
120 sq. m. 83,880 n.a. n.a. 699 n.a.
BLACK SEA - Apartments
60 sq. m. 40,920 n.a. n.a. 682 n.a.
80 sq. m. 60,400 n.a. n.a. 755 n.a.
100 sq. m. 72,800 n.a. n.a. 728 n.a.
120 sq. m. 92,520 n.a. n.a. 771 n.a.
180 sq. m. 148,500 n.a. n.a. 825 n.a.
Districts researched:
Sofia centre: Doctor´s Garden, Ivan Vazov, Iztok, Lozenets, near the Medical Academy, and Oborishte.
Sofia suburbs- Dragalevtsky, Borovo, Manastirski Livadi, Buckston, Vitosha, Gotse Delchev, Student´s Town, Strelbishte
Krasno Selo, Boyana, Geo Milev, Ovcha Kupel, Dianabad, Beli Brezi, Hladilnika, Poduyane and Slatina
Ski resorts: Bansko and Borovets
Black Sea Coast: Bourgas and Varna
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Yields have fallen over the past year in Sofia, Bulgaria, against a background of falls in prices and rents. In the centre of Sofia, gross rental yields on apartments are moderate, i.e., the amount that you would earn from renting the apartment out, divided by the present value of the apartment, ranging from 4.61% to 5.97%.

Doctor’s Garden, Ivan Vazov, Iztok and Lozenets are among the most sought after addresses in the centre. Embassies, museums and universities are located here. These areas also have many parks and green spaces, making them popular with expats.

In the southern part of Sofia in Vitosha Mountain (or in the vicinity) are prestigious suburban neighborhoods like Boyana and Dragalevtsi. Though new developments being built here are increasing the stock of rental apartments, we find better yields here on the very smallest apartments, with yields stretching up to 6.32%

Nationally, Bulgarian house prices have stopped falling, according to official statistics, but that does not seem to be the case in Sofia.

We don’t collect data on rentals in Bulgaria’s beach and ski areas, because rents in these areas are highly seasonal.






Comments

#1 PEJMAN KHORSANDNIA | September 10, 2012

I would like to thank you for your useful site. It is a very big help for property investors in such a world where information would come much more handy than self of capital to investors.i would like to mind you that on the chart above on the column for 60 m apartments on black sea either the percent of property price given as yield or the amount of rental yield should be wrong. Because the numbers don't fit mathematically. Thanks

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