Property rent price increase in Bulgaria exceeded significantly selling prices hike in 2006.

The trend results from the faster growth of property selling prices as compared to the raise of income.

The slow mortgage credits interest decrease pace was another reason for the trend, 24 Chassa daily said. Mortgage interests were higher than those in other EU member states.

People find it hard to prove stable income, sufficient for the obtaining of bank credit.

A number of 'potential purchasers' were forced to rent property instead of to buy, 24 Chassa said.

Rents in Sofia's Ivan Vazov, Iztok and Lozenets residential districts increased most, by up to 23 per cent.

In some Sofia residential districts, all types of residential property rents raised by seven to 10 per cent, imoti.bg said.

Two-bedroom and three-bedroom apartments in the centre of Sofia were rented for five euro per sq m. The rental price of a one bedroom apartment in the same area was 4.75 euro per sq m, 24 Chassa said.

Prices of three-bedroom apartments raised the most because of the increase in the number of foreign companies opening offices in Sofia and hiring foreigners. Foreigners preferred spacious, well-furnished apartments in the centre.