The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real estate market in the country before and after the Global Financial Crisis. Initially, prices rose rapidly driven by demand stimulated by bank loans. After the crisis, prices fell due to difficulties in accessing financing and the sale of properties purchased with loans that could no longer be serviced," the analysis stated.
The Global Financial Crisis of 2008/2009 completely changed the situation. Access to credit became severely restricted and demand for real estate froze. This episode should not be forgotten and should always serve as a sobering reminder in the face of overly optimistic expectations about the property market, BNB warns.
The Governing Council of the Bulgarian National Bank (BNB) has ordered banks in the country to apply a minimum set of 6 indicators for monitoring credit standards when granting and renegotiating loans secured by residential real estate . The aim is to..
Regional policies are needed to address imbalances in employment and economic activity levels in different regions of Bulgaria, taking into account the specificities of each region. This is the recommendation of the Council for Economic Analysis study..
The total average income per household member in the first quarter of 2024 is BGN 2,840 (EUR 1,452.07), which was an increase of 18.6%, year-on-year, the National Statistical Institute said. Wage income increased from BGN 1,284 (EUR 656.5) to BGN 1,597..
IT is one of the leading sectors in terms of salary increases and interest by job seekers in Bulgaria. Before the pandemic all kinds of experts were..
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