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Bulgarian National Bank exchange rates as on 09.4.2012
1EUR1.9558 BGN
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100JPY1.8368 BGN


Banks finance 80% of property value


The fall in property prices and the higher deductibles result of paying lower monthly installments. "This means less risk, both for people who can more easily devote the amount and the bank," commented Tihomir Toshev, Executive Director of KreditTsentar. The market is stabilizing and the proof is the behavior of participants. Sellers make more difficult concessions, and buyers seek more quickly finalize transactions and longer inspections continue for months. In September 96% of mortgage loans drawn were in euros, and their average monthly amount is 30 260 EUR. In Sofia it is 38 280 EUR, and... More >

Stable housing prices


Reasons for stable prices for flats are few. First is the reduced construction of new apartments (with one third fewer building permits last year for information from NSI). This gradually creates a vacuum in the market and prevents decline in asking prices of finished homes. Another prerequisite is resumed lending, making sellers more unyielding in negotiation. Influenced by the fact that expectations of mortgaged properties of ultra low prices to flood the market did not come true, while many owners withdrew their offers for sale in anticipation of better times. "We believe in housing estates... More >