Although the global economy is reeling from the crisis that started in the U.S. and spread throughout the world, there is at least one positive outcome that came out of it. Unlike 5 6 years ago when most tourists had to book hotel rooms, often through touroperators, now they can also choose from hundreds of private holiday apartments for rent. Bulgaria is one of the countries that experienced a tremendous boom in such construction in its beach and ski resorts. What rental properties are available and how much do they cost? A recent analysis shows the following information. The observations were drawn from a database compiled from the top three websites advertizing holiday rentals in Bulgaria.
1. There are close to 1000 holiday apartments for rent throughout Bulgaria. The number of apartments available for rent has not increased in the last several months after the collapse of property markets. However, there will probably be an increase in holiday rentals as individual investors try to recoup some of their investments over time.
2. Most the apartments are concentrated in three main resorts – Bansko which is a ski destination and Sunny Beach and St. Vlas that are on the Bulgarian Black Sea coast. Bansko and Sunny Beach combined account for about 60 percent of all holiday apartments available for rent. The construction boom in these three resorts was aided by the availability of land and the interest of U.K. and Irish investors. In fact, the construction boom made out of Bansko and St. Vlas much more important holiday destinations than anyone could imagine just a few years ago. This is especially true of St. Vlas that was a sleepy village until recently and is now a bustling resort.
3. The most widely available type of apartments is a one bedroom apartment. These usually are designed to accommodate 4 people – two in a standard bedroom and two more on a sleeper sofa in the living room. About 70 percent of the available apartments are one bedroom apartments. Most of the remaining 30 percent are studios. Therefore, the offers are mostly for a single family or for a couple. Larger families or groups can find fewer accommodations of this type, if they want to stay in one apartment.
4. One bedroom apartments in Sunny Beach rent out for about 300 euro in the high season. This is July and August. The low season from May to June and then September offer discounts of about 15 20 percent.
5. Rental prices are similar in St. Vlas and a bit cheaper in Varna and Nessebar, by a margin of about 20 percent.
6. There is substantial variation between the rental prices of what appear to be similar apartments in the same resort. For example, one bedroom apartments range from about 200 euro per week in St.Vlas to about 400 euro per week. This suggests that tourists should do a thorough search and will probably find a good deal.
7. Rental prices are higher in the ski destinations compared to the rental prices in the beach destinations, by about 15 percent. However, much of the difference comes from the very high prices on Christmas and New Year. The most expensive ski destination is Borovets, which is understandable given its close proximity to the capital Sofia.
About the Author:
One can view the full analysis as well as a selection of holiday apartments for rent at http://www.rentbyownerbg.com. Stefan Valev writes regular columns and provides advice on Bulgarian tourism.
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