Profitable Property Investment in Sofia

Real Estate Investment in Sofia

This article looks at the different factors that you must consider if you are thinking of making a Real Estate Investment in Sofia, Bulgaria and the assistance that Sofia Property Broker will give you to help you make the correct decisions.

Factors to Consider with Real Estate Investment in Sofia

This article looks at the different factors that you must consider if you are thinking of making a Real Estate Investment in Sofia, Bulgaria and the assistance that Sofia Property Broker will give you to help you make the correct decisions.

The Neighbourhood

The neighbourhood in which you buy will determine the types of tenants you attract and your vacancy rate and rental fee. Sofia Property Broker will advise you on the best district to rent in Sofia based on your investment amount and required return on investment.

Property Taxes

We will carefully explain the property taxes that you have to pay when you invest in Sofia. Higher property taxes are not always a bad thing as a great neighbourhood will attract long-term tenants because of the facilities available.

Schools

We will advise you on the quality of the local schools in the areas that you are considering as this will have a large impact on the attractiveness of your property to possible renters.

The quality of nearby schools will also come into play when you eventually want to sell the property.

Employment

We will notify of the areas where there are large business communities, such as Iztok and Visisha districts, which have offices with many professional staff who will need to rent a place to live.

We will also take account of announcements of a major company moving into an area, which means that there will be a high demand from the workers in search of a place to live nearby. New business moving into an area will also cause an increase in the value of your property.

Amenities

We will give you a tour of the district to show you the parks, restaurants, gyms, movie theaters, public transportation links, and all the other perks that attract renters.

Future Development

We will inform you of any future developments that are planned for an area. That could could cause the price of a property to go down as well as up.

Number of Listings and Vacancies

We keep account of districts with a high number of property for rent listings, this may be a seasonal cycle like in Mladost where a large number of students reside or it may signal that an area has been over developed for the available demand.  In either case, high vacancy rates end up with lower rents to attract tenants which you want to avoid.

Average Rents

Rental income will be your bread-and-butter, so we will inform you of the area’s average rent. We will list out all the expenses that you have to pay to cover your mortgage costs or achieve the yield that you require.

Insurance

We will advise you of the best insurance to take as insurance is another expense you will have to subtract from your returns, so you need to know just how much it’s going to cost you.

Talk to Other Investors

Where possible we will introduce you to other investors in the district for you to also get an opportunity to find out more about what it is like to own and rent out a property in the area. They will give you the good and bad points about the investment including the quality of renters that they have attracted.

The Neighbourhood

The neighbourhood in which you buy will determine the types of tenants you attract and your vacancy rate and rental fee. Sofia Property Broker will advise you on the best district to rent in Sofia based on your investment amount and required return on investment.

Property Taxes

We will carefully explain the property taxes that you have to pay when you invest in Sofia. Higher property taxes are not always a bad thing as a great neighbourhood will attract long-term tenants because of the facilities available.

Schools

We will advise you on the quality of the local schools in the areas that you are considering as this will have a large impact on the attractiveness of your property to possible renters.

The quality of nearby schools will also come into play when you eventually want to sell the property.

Employment

We will notify of the areas where there are large business communities, such as Iztok and Visisha districts, which have offices with many professional staff who will need to rent a place to live.

We will also take account of announcements of a major company moving into an area, which means that there will be a high demand from the workers in search of a place to live nearby. New business moving into an area will also cause an increase in the value of your property.

Amenities

We will give you a tour of the district to show you the parks, restaurants, gyms, movie theaters, public transportation links, and all the other perks that attract renters.

Future Development

We will inform you of any future developments that are planned for an area. That could could cause the price of a property to go down as well as up.

Number of Listings and Vacancies

We keep account of districts with a high number of property for rent listings, this may be a seasonal cycle like in Mladost where a large number of students reside or it may signal that an area has been over developed for the available demand.  In either case, high vacancy rates end up with lower rents to attract tenants which you want to avoid.

Average Rents

Rental income will be your bread-and-butter, so we will inform you of the area’s average rent. We will list out all the expenses that you have to pay to cover your mortgage costs or achieve the yield that you require.

Insurance

We will advise you of the best insurance to take as insurance is another expense you will have to subtract from your returns, so you need to know just how much it’s going to cost you.

Talk to Other Investors

Where possible we will introduce you to other investors in the district for you to also get an opportunity to find out more about what it is like to own and rent out a property in the area. They will give you the good and bad points about the investment including the quality of renters that they have attracted.