In 2024, the real estate market in Bulgaria registered a significant rise, with prices increasing by around 16%, and the number of real estate transactions going up as well.
“One feature of the Bulgarian market is that banks have a more limited effect than they do in Western Europe,” says Yordan Yordanov, managing director of a real estate agency, BNR’s Natalia Ganchovska reports. “According to official data, over the past 10 years, only 27 out of 100 transactions have involved taking out a mortgage loan, the rest have taken place using ready money, which is indicative of the specific structure of the Bulgarian market. Unlike Bulgaria, in countries like Germany, the UK, the US, Canada and other countries, 80-90% of all transactions make use of mortgage loans,” Yordan Yordanov says.
According to Bulgarian National Bank data, interest on home loans in Bulgaria is among the lowest in Europe, ranging from 2.1% to 3.6%.
“Bulgaria’s accession to the euro area will have a positive impact on the economy, the people, the business sector and the whole country”, said Minister of Economy Petar Dilov in an interview with public service broadcaster BNT. ''On January 1,..
The Association of Bulgarian Tour Operators and Travel Agents (ABTTA) expects tourism growth in Bulgaria to slow down due to the unfavourable economic situation in many of its source markets. It is not yet clear what effect Bulgaria's accession to the..
The expected adoption of the single European currency from January 1, 2026 is one of the many topics dividing society. In addition to being a cause for political quarrels, the euro is also a cause for concern among some Bulgarian..
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