Bulgaria Sees Surge in Mortgage Loans: Record-Breaking Growth Fuels Property Market
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Prices of residential property in Bulgaria declined by an average of 1,9% in the last quarter of 2009 compared to the previous, data from the statistics office shows. The decrease on an annual basis is 26,3%.
According to the National Statistical Institute, the average price of one square meter of residential property in Bulgaria in the last quarter of 2009 was BGN 1 001,72.
Residential property prices are found to be the highest in the Black Sea city of Varna – BGN 1686,17 per square meter, followed by the capital Sofia BGN 1585,17 and the Black Sea city of Burgas – BGN 1360,33.
In the last quarter of 2009, the residential property prices in Sofia dropped by 3,4% compared to the third quarter of 2009. The highest decreases are registered in the northern towns of Pleven (6,4%) and Russe (5,6%), as well as the second-biggest town of Plovdiv (5,7%).
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New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
This information was shared during the presentation of data on the current state of the market to journalists
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