Housing Loans in Bulgaria Continue to Grow at Rapid Pace, BNB Data

Housing Loans in Bulgaria Continue to Grow at Rapid Pace, BNB Data

Business

Housing loans in Bulgaria continue to grow at a rapid pace. Over the past 12 months, the amount of bank loans for housing has increased by BGN 4.854 billion to a total of BGN 23.617 billion at the end of September, according to data from the Bulgarian National Bank (BNB). This represents an annual growth of 25.9%. By comparison, the amount of housing loans stood at BGN 18.763 billion at the end of September 2023. The rate of growth this September is strengthening as in the previous month of August the annual growth was 25.5%, CE Report quotes BTA

The measures imposed by the BNB on real estate-backed loans, prompted by the rapid growth rates in this segment in recent years, came into effect from October 1 this year.

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