Higher rent for housing is unthinkable at the moment
An increase of costs for rent is unthinkable at the moment, because the market is saturated. This was stated by Lachezar Iskrov, chairman of the National union “Estates”.
“All the estates that could not be realized as a sale on the market have been, for the most part, offered for rent. Thus, the market gets saturated and it’s not natural to expect an increase of costs for rent in these conditions. In reality, we are actually observing a decrease of rents for office estates and the such.
The leading clue for the current price on the rent market is the saturation. Right now, when many of the property owners that purchased an estate with the intentions to invest or re-sell it at a better price are in a difficult situation due to the shrinking market. Naturally, that makes them decrease the prices for the rent of their property”, said Iskrov.