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
Bulgaria continues to be among the top destinations for Brits, who are looking to move abroad, shows statistics from a property website.
Spain, France and the US were the most searched-for destinations, while Cyprus, Turkey and Bulgaria, which registered the highest monthly increases of between 55 % and 60 %, found their way into the top ten, according to the latest Primelocation International Search Index.
The index showed that enquiries after international property rose by 134 % between January 2009 and 2010, while searches were also up by 25 % between December 2009 and last month.
Adam Samuel, director at Nubricks.com, said that although enquiries are definitely increasing, landlords building insurance policyholders should not take that to mean the market is booming.
"We need to be cautious about what that means in terms of actual recovery. A lot more people are looking at what is available and considering where to invest," he commented.
He added that Turkey, which charted at number five on PrimeLocation's survey, was of particular interest "because prices are still relatively low and there are bargains to be had".
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As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
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Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
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