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
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Real estate prices Bulgaria's capital Sofia will drop by 12% in 2009, while those in the capital of neighboring Romania will see a 20% plunge, according to a report of Jones Lang Lasalle consultancy.
Both the Bulgarian and Romanian residential market are suffering a slowdown, which however will be marked by sharper slides in Bucharest, according to the agency.
It comes to confirm analyses, which attribute the stalemate in Bulgaria's real estate market to the withdrawal of investors and restricted financing, and forecasts that entrepreneurs will go through a wait-and-see period before unfreezing their projects.
In another research the consultancy says that markets such as Ireland, the UK and Spain are seeing signs of increased activity as investors show interest in finding opportunities even before confirmation of the market reaching a turning point. In London and Spain, where confidence is improving, bid prices for properties have been surprisingly strong.
Jones Lang LaSalle says its historical research into the behavior of the property markets shows that recovery in the property market lags improvements in the economy by as much as two years.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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
Russia has issued a stern warning in response to Bulgaria's recent legislative efforts aimed at seizing Russian real estate
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022