Before/After: A Successful Renovation in Kozloduy that Multiplies the Value of the Property

Before: A Raw Concrete Apartment

In December 2018, a T3 apartment of 80.02 m² accompanied by a garage of 30.03 m² was acquired off plan in Kozlodui for a price of €121,800. During the initial visit, the place consisted of bare walls and nonexistent finishes, typical of a purchase in VEFA (Sale in the Future State of Completion). However, behind this raw façade lay immense potential, ready to be exploited.

Before renovation, the apartment was an empty space, devoid of soul and functionality.

After: A Modern and Elegant Interior

The transformation of this space required an investment of €59,400 for the work and furnishing. The result? A chic and contemporary interior, ready to welcome tenants in absolute comfort. The emphasis was placed on quality materials and modern decor, highlighting every square metre.

The bright living room, with its wooden finishes and clean lines, offers a welcoming and functional space. The equipped kitchen combines aesthetics and practicality thanks to optimized storage and modern appliances.

A Profitable Investment

Since its rental in 2021, the apartment has generated increasing income each year. In 2024, the annual rental income reaches €13,800, offering a net return of 5.7% relative to the total investment cost of €181,200 (purchase + work).

But that's not all. The estimated value of the property soared to €396,180 at the end of 2024, representing an overall return of 23.17% if a resale were considered.

A Lesson in Real Estate Investment

This project is a perfect example of the impact that a well-thought-out renovation and furnishing can have on the profitability of a property. Thanks to an effective strategy, this apartment in Kozlodui has become a valuable asset, both for its rental income and for its resale potential.

Key Figures of the Apartment

Apartment Information

• Purchase Price: €121,800

• Purchase Date: December 2018

• Type of Purchase: VEFA (construction up to the 4th floor at the time of purchase)

• Type and Surface of the Apartment: T3, 80.02 m² + 30.03 m² of garage box

• Cost of Work and Furnishing: €59,400

Rental Income

• Type of Rental: Long term

• Rental Start: Since 2021

• Annual Rental Income:

• 2021: €10,800

• 2022: €11,800

• 2023: €12,800

• 2024: €13,800

Valuation

• Estimated Value of the Property (end of 2024): €396,180

Profitability

• Net Rental Profitability in 2024: 5.7% (€10,350 / €181,200)

• Total Profitability (purchase, work, rental, resale in 2024): 23.17%