Figures indicate increase in Bulgaria rental demand

Rental yields in Bulgaria have been increasing throughout 2008, new figures have suggested.

A report published by the Address Real Estate Agency has found that there has been a 12 per cent average growth in the country's property rental market between January and October, with demand for two-bedroom flats increasing by 14 per cent.

The credit crunch and the resulting fall in demand for property to buy in the country has been attributed to the increase in rents, with the port town of Varna seeing the greatest jump in rental rates, up 13 per cent, while Sofia experienced an eight per cent climb.

However, investors considering buying property in the country may wish to avoid purchasing one-bedroom flats, as rental yields for these homes fell by six per cent.

Property Wire recently suggested that the Bulgarian market is set to make a comeback in 2009, noting that the country's winter sports resorts are likely to become increasingly popular with holidaymakers.

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