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Apartment rents in Bulgaria's Sofia have seen a 15% hike at the end of the summer as a result of the demand driven up by college students, according to realtors.
The southern and southeastern Sofia quarters of Studentski Grad (which houses Sofia's university dorms anyway), Dianabad, and Musagenitsa are the most popular with college students.
The students usually prefer two-room apartments rented for about EUR 200 per month, realtors say.
At the same time, however, the new, second line of the Sofia Metro has also increased the demand for apartments in less popular quarters such as Nadezhda and Lyulin.
Real estate agencies say that September usually sees a stark increase in the demand for rental apartments in Sofia, which leads some landlords to decide to up the asking rent prices.
The realtors have contrasted the prices of rental apartments with the rents in the Studentski Grad dormitories which average about EUR 25 but come with the inconvenience of having one or two roommates in a single room.
However, the largest universities in Sofia have limited housing opportunities which is why not every student can secure a spot in a university dormitory.
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New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
This information was shared during the presentation of data on the current state of the market to journalists
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