Amid rising availability of Bank loans, the activation of new construction and improving economic indicators in the country, the real estate market in Bulgaria has seen a steady increase. Positive changes are particularly visible in Sofia and other major cities of the country – Varna, Burgas, Plovdiv.
Mortgage
The data of Bulgarian real estate agencies illustrate the increase in the share of mortgage loans in the total volume of transactions of purchase and sale of real estate. So in 2016, 55% of houses were bought using a mortgage. For comparison, in 2015 the share of mortgage loans was 50%, and in 2014 – 45%.
Among the reasons for the increasing popularity of the mortgage – reduce interest rates and simplification of procedures of obtaining Bank loans.
Housing prices
Steady growth in prices recorded in the real estate market Sofia, Burgas, Varna, Plovdiv. So, in 2016, the average cost per square meter in the Bulgarian capital have risen by 7-10% in comparison with 2015. In the late 4th quarter of 2016 square meter of real estate in Sofia was estimated at 837 euros.
The same trend is observed in the coastal Varna and Burgas. In Varna, the annual growth rate over the same period was 5.8%, in Burgas – 7,3%. The average cost per square meter in Varna by the end of 2016 reached 747 Euro, in Bourgas – 772 Euro.
Source: Investor.bg
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