In recent years, the percentage of homes purchased for investment purposes has seen growth, reaching nearly 25% of real estate transactions in Sofia by the end of 2024. The property is acquired with the aim of letting it out. However, this also brings greater commitments for clients, especially those purchasing property in the central parts of Sofia.
The reason is that most homes are either of old construction, which requires renovation, or new, where the purchase of unfurnished apartments involves a subsequent additional investment of funds and time by the buyers. For several years, however, a new product has appeared on the market — residential properties with furnishings included, also known as build-to-rent or "turnkey". In this model, the homes in the building are sold fully furnished for the purpose of letting. The investors' idea in developing this new business concept is to provide a better opportunity to purchase an investment home that is located in a new building and offers professional management. However, such projects can be counted on the fingers of one hand in Sofia.
Among construction developers, BLD became a pioneer in the Bulgarian market when, a year ago, it announced the sale of fully furnished apartments with a guaranteed rental income.
"We admit that initially, clients buying for investment purposes were quite sceptical. The first two questions they asked us were: "How will you guarantee the yield you are advertising?" and "Where is the catch?". In reality, there is no catch — the high yield percentage is guaranteed by the excellent quality of the property, on the one hand, and by the "property management" service we offer, on the other," shares Dimitar Savov, CEO of BLD.
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