Bulgaria's Housing Loans See 10% Growth Amid Rising Property Prices
Interest in newly built properties is on the rise, driven by factors such as increasing prosperity
Publicly available information from the National Revenue Agency reveals that 3,604 Bulgarian residents have properties abroad, all of which have been duly declared to the agency.
Bulgarians own properties across various countries in the Balkans and the European Union. Additionally, some citizens take pride in owning properties in less commonly chosen destinations, including Andorra, Argentina, Armenia, and others.
Following the deadline for tax return submissions, data from the National Revenue Agency highlights that 927 Bulgarians reported an income exceeding BGN 1 million (EUR 511,371) last year. Notably, among the affluent individuals, one person stands out with a reported personal income surpassing 70 million BGN (EUR 35,796,032).
The primary source of wealth for the wealthiest Bulgarian individual stems largely from the sale or exchange of shares and other financial assets.
During the recent tax campaign, which concluded on April 30, over 742,000 individuals and identical traders submitted tax declarations. Among them, 20,247 people earned more than BGN 100,000 (EUR 51,137), with 1,228 individuals earning over half a million BGN (EUR 255,685).
Additionally, 514 Bulgarians reported an income ranging between 750,000 (EUR 383,528) and 1,000,000 BGN (EUR 511,371), while 4,710 individuals earned between 250,000 (127,842) and 500,000 BGN (EUR 255,685)) for the year.
Interest in newly built properties is on the rise, driven by factors such as increasing prosperity
the last quarter of 2024, the proportion of properties purchased with mortgage loans in Bulgaria grew to 27%, or roughly every third property
The real estate market in Bulgaria experienced notable changes in 2024, with significant price increases and a rise in transaction volumes
Financial expert Kamen Kolchev has advised against investing in real estate, warning that property prices in Bulgaria could drop by up to 20% upon the country’s entry into the eurozone
Foreigners who invested in property in Bulgaria are now facing legal battles after discovering that their homes were sold without their knowledge
In recent months, sales of residential properties in Bulgaria’s major cities have risen sharply
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