Sun, Nov 22 2009

Plovdiv market demands luxury rentals

Tue, Mar 11 2008 17:28 CET bywww.propertywisebulgaria.com 385 Views

Current monthly rents for luxury flats with a garage or parking place in Plovdiv averages 350 euro, according to an analysis of rental trends at the turn of the year, carried out by Europolis real estate agency.

Two-room apartments in Plovdiv's downtown and in Kurshiaka neighbourhood are sought the most. Three-room flats do not enjoy high demand and their supply is limited anyway, managing Daniela Dimitrova said in a statement. A new construction apartment or a lavishly furnished one can let out at 250-550 euro a month and old brick or pre-fab flat, as well as flats that have not been re-furbished, rent out at 200-250 euro, she added.

There is a poor demand for unfurnished units on Plovdiv market, according to the Europolis report. Middle and low-quality units are not popular either, renting at an average of 175 euroa month and tenants insist on having at least basic kitchen equipment.

Europolis, which was founded in Greece in 1995, but now operates in Central and Eastern European countries, has chosen Plovdiv, Bulgaria's second-biggest city, for the location of its first office in the country. The company manages 35 office buildings, logistics parks and trade centres in Austria, Czech Republic, Hungary, Poland, Romania, Croatia, Russia and Ukraine.

Apart from dealing in brokerage and property management, Europolis plans for Bulgarian market include a five million leva investment in land in the town of Rousse and the possible development of a holiday scheme in Karlovo.

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