Bulgaria’s Mortgage Market Braces for Euro Transition and Inflation Impact
The Bulgarian mortgage market continues to expand steadily, showing increases in lending volumes, average loan sizes
63% of Bulgarians Have Taken Out Consumer Loans - Survey
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63% of Bulgarians have taken out a consumer loan and half of them are ready to take out a new loan, according to a survey.
According to the survey, as cited by private TV station bTV and Sega daily, 37% of Bulgarians refrain from taking out loans because they fear that they will run up debts.
The most common monthly installment amounts to BGN 150-200, with most of the people allocating 10-20% of their incomes to settling the loan.
The purpose of the loan is usually related to repair works and furniture (24% of the loans), followed by current expenses, purchase of property without a mortgage, and purchase of a car.
The first consumer loan usually amounts to over BGN 24 000 and the second is usually up to BGN 3000.
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