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Housing Benefit

Last activity 31 January 2015 by Petrovna

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candyz9229

We are relocating to Bulgaria this month and are planning on buying properties to rent out to local people. Do you know if the local authority pay rent if the person is unemployed (ie Housing Benefit) and what is the average rental on a 3 bedroomed house in Bulgaria

Kris0x0

No, they don't, if I'm understanding you correct you are asking about "section 8" that's what is called in the U.S. where the gov. pays all of the rent or part of. Rental market in BG is VERY different diff, honestly having rental properties here is not only not worth the investment but not worth the time and energy you will have to put into managing and collecting rent (unless ur renting to foreigners) and even then it depends on where they are from and what they work.
Average rent varies greatly on location, age of the building and if the apartment is modern or not.
I hate to be the bearer of bad news but I just don't want to see ppl coming here and waisting their $$$.
Move here see how things are for yourself and then decide.

aslan315

Hello, I was told BG has a shortage of property to rent in Stara Zagora Area, other places I do not know, I can't see them paying much you would be better of renting to non Bulgarians as far as them paying the rent I can't see it.
Good luck

Rapbom

Hi, I see you are from Merthyr Tydfil, we are from Chepstow and are renovating a house near Burgas.
We have a very friendly estate agent working on our behalf and will ask him about rentals and costs etc. on our next visit to Burgas at end of January and let you know.

When are you moving to Bulgaria?

kojidae

From my experience renting in Bulgaria, the rental price vs. buying price is very low... for example, we are at .6% of our apartment's value for our monthly rental. (250/40,000 bgn) In smaller cities, rent is anywhere between 150-400 (possibly more for luxury apartments, but not much) for a 1 or 2 bedroom. The larger cities- varna, plovdiv bourgas, and sofia, you might be more in the 250-600 range.

As for houses, they are not often rented. We were in Varna, paying around 500 bgn / month for a 2 bedroom. While looking, most 2-bedroom houses went for between 500-1000, in that area, but there were very few houses for rent as apartments tend to be more popular.

But not a whole lot of bulgarians rent, in my experience. Many have a house or apartment in their family that they use. That being said, foreigners do occasionally have a difficult time finding houses to rent (as these are MUCH more often sold, not rented) so there may be a good market in that.

aslan315

Moved in 2006
Ivan Good Luck

candyz9229

thanks Kris I am very grateful for your help. It seems we would be better off with holiday lets or renovating to sell. This has saved us so much time and I am very grateful take care Lesley

candyz9229

Many thanks for your help we are hoping to move this month or early Feb. We bought a house in Svishtov last year so now our house in the UK is sold we can go. Can't wait!

candyz9229

many thanks Ivan xxx

candyz9229

excellent information thank-you ever so much for taking the time to reply

Petrovna

Hello!

we rented 3 bedroom house in Varna (Vinitsa) for 500 Eur, now we moved to another house and pay 450 Euro
First house costs 190 000 Euro (it's still on sale)

So, if you have money to buy house like this (and believe me, it wasn't very good, it was very cold with other problems) it's better to spend them to other projects. For example - organize a camping, or buy small apartment and rent it on Airbnb in summer time and you'll earn more money for this because rental price for 1 day in simmer is about 20-50 Eur.

Think about tourists not locals.

Good luck!

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