College Students Drive Up Rents in Bulgaria's Sofia

Business » PROPERTIES | September 7, 2012, Friday // 17:59
Bulgaria: College Students Drive Up Rents in Bulgaria's Sofia Hundreds of thousands of university students in Bulgaria's Sofia are driving the rental prices up in September. Photo by BGNES

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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Tags: sofia, Studentski Grad, college students, universities, Dianabad quarter, Musagenitsa, Nadezhda, Lyulin, rent, rent prices, rental, rental market, real estate market, landlords

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