Most Bulgarians Living Abroad Invest in Property Purchases in Their Homeland
Many Bulgarians living and working abroad are actively purchasing properties in their homeland
Bulgaria's property market is picking up and there is a slight price growth over the last three months, according to one of the leading companies in the sector.
Its chief executive Teodora Dimitrova was clear that the price hike may continue, but it will not be drastic, Darik news reports.
Dimitrova noted that for the first time in six years a minimum increase in real estate prices was reported in March. The highest demand is for one or two bedroom homes, she added.
"The money Bulgarians invest in houses range between BGN 30,000 and BGN 50,000, these are the most common transactions. They are mainly financed with own funds, from the sale of another property or with a bank loan," Dimitrova said.
Asked whether the stirring of the market will lead to higher property prices Dimitrova said that currently there is a high supply and therefore prices remain stable.
The company, which has offices in most European countries and monitors the market in the United States and Turkey, reported that the domestic interest rates are among the highest, Darik news informs.
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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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