Zara Koteva, Manager of Luxury and Corporate Rents and Property Management at Unique Estates, on rental trends and the company's premium rental and property management services.
Extremely high interest and growth in rental prices - this is how the current trends in this luxury real estate segment can be described. Demand for high-end houses and apartments was a key factor throughout 2022, and by early 2023 potential customers have become even more confident in their intentions. The growth in rental prices compared to 2022 is around 20%. Demand is outstripping supply, especially when we talk about houses, but we also see some shortages in luxury apartments. For this reason, customer interest in new construction and investment deals in the high-end segment is also growing. Among the most attractive areas are the capital's historical centre and the Doctor's Garden, where mainly aristocratic apartments with high ceilings, which carry the spirit of old Sofia, are in demand. Interest among tenants is aroused by new and modern apartments with clean concepts in "Lozenets", "Iztok", "Izgrev", Blvd. "Bulgaria", as well as futuristic design penthouses in luxurious new complexes. Dragalevtsi, Boyana, Kambanite and other areas on the northern slope of Vitosha attract mainly high-end houses, but in the latter segment, the supply is quantitatively insufficient to meet the demand.
Our consultants are trained from the very first steps of their work with landlords to advise each of them on what improvements are needed to successfully let the property. A key requirement is that the property is in excellent condition from the moment it goes on the rental market. In some cases this may require more basic or just refreshing repairs, in others it may require professional detail work. The ultimate goal is for every potential tenant to want to live in the luxury home as soon as they see it and feel at home as soon as they walk in. It is key that the property is well laid out and that accessories and interior features are present that match a high-end home. This gives potential tenants the feeling they would experience in that home and gives them the best idea of how to adapt it to their requirements. By following these steps, the homeowner will maximize the value of the property and demonstrate their attitude towards the home. This does not go unnoticed. Last but not least, the right price must be set. We guide owners not just to quote an arbitrary value, but to define the price of their luxury property in such a way that it meets the market realities and the qualities of the house or apartment.
As leaders in the luxury property market in Bulgaria, Unique Estates has an expert team of consultants in the rental segment. Our landlords receive many years of service and full support from qualified consultants from the outset in renting, letting and long-term property management. Unique Estates also fully underwrites the professional photography of the property. We work with an extremely wide range of corporate clients, allowing us to connect tenants and landlords quickly and efficiently. An important service we offer is the valuation of the property, allowing us to unmistakably position it in the market.
Unique Estates covers the whole range of property letting services and has a dedicated team who work exclusively in this sector. In practice, we service every type of rental transaction - long-term, short-term, corporate lettings, relocation of staff and senior management and CEO. The properties we service are centrally located or in areas conveniently located, close to business centres and transport links, making it easy and saving our tenants valuable time. We also offer property management and maintenance to both tenants and landlords. We have a professional team on hand to assist clients - concierge services, porterage, cleaning and anything else needed to ensure the comfort of both tenant and landlord.
Unique Estates has the full range needed for a positive experience when renting or leasing a property - from professionalism and expertise, to experience and speed, to dedication and the belief that every client deserves nothing less than the best.