The renovation of an apartment at Villa Itta: A profitable transformation

Purchase Context

• Purchase Price : €43,000

• Acquisition Date : March 2023

• Type of Property : T2 Apartment of 61 m², located in an existing building

• Rental Strategy : Short-term seasonal rental, targeting the high tourist season months (June to September).

In 2023, the apartment generated a net rental income of €1,210, and the forecasts for 2024 are even more promising with an estimated income of €1,320.

Renovation Works: Goals and Budget

The renovation works, planned between October and December 2024, aim to modernise and furnish the apartment to make it rental-ready.

• Allocated budget for works and furnishings : €21,700

• Goals of the works:

• Maximise tenant comfort through contemporary decoration.

• Renovate the space to increase the property's market value.

• Transform the apartment into a functional and attractive place, ready to welcome tourists.

The Result: A Modern and Bright Space

The photos showcase a space that stands out for its elegance and brightness.

Bedroom:

With a comfortable bed, light wood flooring, and elegant curtains, the bedroom offers a warm and relaxing atmosphere. Natural light generously flows through the large windows, creating a sense of space and well-being.

Open Living Room and Kitchen:

The living area is a perfect blend of comfort and functionality. The spacious corner sofa and glass coffee table invite relaxation. The well-designed open kitchen fits harmoniously into the space, facilitating convivial moments.

Planned Renovations:

• Update of materials and finishes for a more modern look.

• Addition of designer furniture for optimal comfort.

An Attractive Profitability

Thanks to the renovations, the estimated value of the property at the end of 2024 is €82,000, representing a significant increase from the initial purchase price.

• Net Rental Yield 2023-2024 : 2.94%

• Yield in case of resale after renovation : 15.32%

Achieved with an extremely low budget, defying all competition, this layout resulted in a high-quality outcome, combining harmony, simplicity, clarity, and functionality. Every choice was made to maximise the visual impact while preserving a warm and welcoming atmosphere. Located by the Black Sea, this apartment has managed to attract visitors since the very first viewings:

, a striking proof of its attractiveness and the relevance of the choices made.

Conclusion

Investing in Bulgaria is a unique opportunity for French investors seeking attractive yields and an affordable property market. This renovated apartment at Villa Itta is evidence of this: a well-thought-out project, combining modernity and profitability. Whether you are an investor or simply curious, this type of project inspires and demonstrates that real estate can be a true adventure.

Contact us to learn more about investment opportunities in Bulgaria