Half of Bulgarian Homeowners Unwilling to Rent Out Properties
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Loading... - Thomas Bourgeois
- 06 Mar 2025
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A recent survey conducted by local online real estate platform Flatimo reveals that nearly half of Bulgarian homeowners, specifically 48%, are reluctant to rent out their properties. The primary reasons for this hesitance include distrust in the brokerage model, high commissions, and a lack of time and experience in managing rental agreements.
Homeowners expressed several key concerns, such as the potential for property damage and the risk of unreliable tenants. Additionally, they face common challenges like setting realistic rental prices and drafting lease agreements. The survey, which polled 1,001 respondents from major cities including Sofia, Plovdiv, Varna, and Burgas, highlights the complexities of the rental market in Bulgaria.
Interestingly, the majority of rental properties—82%—are fully owned, which reduces the urgency for homeowners to rent out their properties, especially in the absence of mortgage pressures. For many, renting serves as an additional source of income, with 80% of landlords and 89% of prospective landlords viewing it as a financial supplement.
When it comes to tenant preferences, 87% of landlords favor long-term tenants to avoid the hassle associated with frequent guest turnover. Notably, 64% of homeowners found tenants without the help of agents, relying instead on word-of-mouth, social media, or direct listings. Furthermore, 87% of landlords prefer to handle property viewings themselves, indicating a desire for direct involvement in the rental process.
On the sales side, the survey also revealed that 28% of homeowners looking to sell their properties intend to use the proceeds to purchase another property, while 25% plan to use the funds as a source of income. Inherited properties dominate the market, with 61% of sellers listing homes they inherited rather than purchased.
Overall, the survey underscores the challenges and preferences of Bulgarian homeowners in the rental and sales markets, reflecting a cautious approach to property management and investment.
