Landmark EU-Mercosur Agreement Promises Billions in Tariff Savings
The European Union (EU) and Mercosur countries have reached a landmark agreement to establish one of the world's largest trade deals
Approximately one-third of residents from third countries in the European Union (EU) are living in overcrowded conditions, a situation mirrored by a significant number of Bulgarians in their own country, according to Eurostat data. In 2023, 34.2% of third-country nationals in the EU were classified as living in overcrowded homes, where the number of rooms was inadequate for the household size. This figure represents an increase from 32.9% in 2022.
In contrast, only 13.7% of EU citizens lived in overcrowded homes last year, a slight decrease from 13.9% in 2022, and down from 15.9% a decade ago. Conversely, the percentage of foreigners in overcrowded housing has risen from 32.6% to 34.2%. The European Statistical Office also indicated that 20.8% of EU residents living in other EU countries are in overcrowded households, a minor increase from 20.5% in the previous year.
Data specific to Bulgaria is limited, with no reliable information available on the living conditions of EU nationals residing in the country. However, it is noted that 30.4% of Bulgarians live in overcrowded homes. Despite this, 83% of individuals over 18 in Bulgaria own their residence, ranking the country seventh in the EU for homeownership, where the average stands at nearly 70%.
The highest rates of overcrowded living conditions are found in Poland (53.3%), Italy (50.7%), Sweden (48.3%), and Greece (47.5%), while the lowest are in Cyprus (4%), Ireland (9.1%), and Malta (10.8%). Among EU citizens living in other member states, overcrowding is most prevalent in Italy (39.9%), Greece (33.1%), and Germany (24.9%), whereas Malta (0.3%), the Netherlands (4.8%), and Cyprus (5.4%) report the lowest percentages.
Additionally, 21% of third-country nationals in the EU experienced a significant financial burden related to housing costs in the past year, spending over 40% of their income on accommodation. This compares to 16.2% of Europeans living in other EU countries and just 8.3% of native residents facing similar financial strain.
Two Bulgarian cities, Plovdiv and Burgas, have been ranked among the most affordable locations for purchasing homes in Europe
The decision to buy or rent property in Bulgaria's major cities, particularly Sofia, is influenced by various factors, with real estate experts suggesting that buying remains more advantageous than renting in the long term
In the second quarter of the year, the housing price index in Bulgaria increased by 15.1% year-on-year, slightly lower than the 16% rise in the first quarter
Sofia's office market has experienced moderate rental activity over the first nine months of this year
A recent analysis from the European Institute of Trade Unions, highlighted by the European Confederation of Trade Unions, reveals that
The Bulgarian real estate market has seen a notable increase in both prices and transaction volume in the past quarter
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