An Impressive Transformation: Renovation and Profitability for an Apartment in Sunny Bay
Let yourself be seduced by the transformation of a 99 m² T3 apartment in Sunny Bay, located in the famous seaside resort of Sunny Beach.
Real estate
6mn
A Promising Property with a Sea View
In May 2023, a T3 apartment of 99 m² was purchased for €85,000 in an existing building, located in Sunny Bay, just steps from the beach. At first glance, the interior appeared outdated and poorly optimized to meet the expectations of modern tourists. However, its exceptional location, offering breathtaking sea views, made it a strategic choice for a seasonal rental investment.
Before renovation, the apartment provided a functional space but lacked charm and modernity.
A Spectacular Transformation
For a total budget of €24,700 allocated to renovations and furnishings, the apartment underwent a complete renovation. Each room was redesigned to maximize its aesthetic and functional potential. The living room, once bland, has become a modern and bright space, with navy blue accents and marble finishes evoking coastal elegance. The bedrooms were transformed to offer comfort and conviviality, while the bathroom was modernized with sleek and contemporary fixtures.
The terrace, one of the property's highlights, has been arranged to showcase its panoramic sea view. This outdoor space invites relaxation while providing added value for seasonal rentals.
A Highly Profitable Investment
In just four months of seasonal rental during summer 2023, the apartment generated €5,500 in gross income (including €3,000 net). In 2024, with an optimized summer schedule, forecasts reach €10,000 in gross income (including €5,500 net). The net rental yield over the first two years is estimated at 3.87%.
Beyond rental income, the estimated value of the apartment has significantly increased to €155,000 by the end of 2024, representing a total return of 24.5% if a resale were considered. This demonstrates how well-planned renovation and effective rental management can quickly enhance a property's value.
The Keys to Success: Location and Layout
The location of this apartment, combined with breathtaking sea views and modern decor, is undoubtedly one of the key factors behind its success. The aesthetic transformation goes beyond visual improvement; it also meets the needs of seasonal tenants who seek both comfort and practicality.
Every detail has been crafted to appeal to tourists, from stylish furniture to the choice of soothing colors, as well as the arrangement of spaces to maximize natural light.
Apartment Technical Sheet
Location: Sunny Bay, Sunny Beach
Purchase Type: Existing Building
Purchase Date: May 2023
Apartment Type: T3, 99 m²
Purchase Price: €85,000
Renovations and Furnishings
Cost of renovations and furnishings: €24,700
Status after renovations: Ready for rental
Rental Type
Rental Mode: Short-term seasonal
Generated Revenue:
2023 Season (June to September):
Gross Revenue: €5,500
Net Revenue: €3,000
2024 Season (June to September):
Gross Revenue: €10,000
Net Revenue: €5,500
Estimated Value
Current Value of the Property (end of 2024): €155,000
Profitability
1. Net rental yield (2023 & 2024):
Rate: 3.87%
2. Total return (purchase, renovations, rental, resale in 2024):
Rate: 24.5%
