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The coronavirus has changed the rental market in the country. Due to the pandemic, more and more people are leaving their homes and returning to their places of origin. This led to the oversaturation of the market.
Maria Damyanova has been looking for a rental property for a month. She shares that the ideal home for her offers comfort and is in a good location.
“Right now I am impressed that the properties I was looking for have lower prices, which is good for me,” Damyanova said.
PROPERTY DURING A PANDEMIC: How is the COVID-19 market changing?
Brokers also confirm a drop in prices. The reason for this is the large number of people leaving their homes due to the pandemic.
“Many of them work remotely and choose their hometown instead of their accommodation in Sofia. Therefore, they intend to reduce their costs,” said real estate manager and owner Ognyan Velinov.
There is a relationship between the size of the home and the decrease in the rent required for it.
“The bigger the houses, the more noticeable the drop in prices,” Velinov added.
MARKET AND PANDEMIC: For the supply and demand of real estate
Landlords also claim that in a pandemic situation, they tend to commit to the monthly rent.
“We reduced the rent, there was no way. At first we expected one thing, but another happened. At the moment, the market works differently, ”says the landlord Evstatios.
While Maria searches for the ideal house in Sofia, the country’s brokers also talk about the changes in the real estate market.
“The coronary crisis has definitely left its mark on our market. At the moment it has decreased and the demand is decreasing ”, concluded the broker Georgi Radev.
Reporter: Nikolai Beremliiski
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