Bulgarian National Bank Prepares for Eurozone with New Liquidity Rule
The Bulgarian National Bank (BNB) has adopted a new regulation outlining the framework for providing emergency liquidity support to solvent banks once Bulgaria joins the Eurozone
In the first half of 2024, a total of 8,533 consumers secured housing or mortgage loans through credit intermediaries. Among these, 8,413 contracts were signed with banks, while 120 were arranged with financial institutions registered under Article 3a of the Law on Credit Institutions, as reported by the Bulgarian National Bank (BNB).
The total value of credit agreements made between banks and customers through these intermediaries exceeded 1.725 billion leva. Additionally, loans facilitated by financial institutions amounted to more than 3.245 million leva. As of mid-2024, there are 116 registered credit intermediaries operating under the Consumer Real Estate Loans Act, according to BNB data.
The cost of housing in Bulgaria has surged dramatically in recent years
Rents in Sofia, Varna, and Burgas are seeing significant growth, but they remain among the most affordable in Europe
If Bulgaria adopts the euro in July 2025, property prices are expected to rise further
In the third quarter of 2024, housing prices in Bulgaria saw a notable rise of 16.5% compared to the same period last year
The real estate market in Sofia remains robust as the year draws to a close
Housing affordability in Sofia has improved since the pandemic, making it one of the few capitals in Central and Eastern Europe (CEE) to experience this positive trend
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