Bulgaria H1 Avg Home Loan Size Up 25% y/y
published on 20.7.2007
The size of the average home purchase loan increased by roughly a fourth year-on-year to 38,600 euro in the first half of 2007, said local loan consultants Credit Center.
The upturn is attributed to the higher percentage of the home price covered by the mortgage and the increase in property prices.
Some 40% of H1 home purchase loans disbursed covered around 80% of the property price.
Credit Center said June mortgage lending outpaced December 2006 which is unusual because the last month of each year is typically the peak of mortgage lending.
The consultancy company said higher incomes and the great number of competitively prices mortgage products are fuelling mortgage growth.
In related news, local realtors Address Real Estate said domestic residential prices rose 10% in H1. The
The number of H1 property transactions is up 8% year-on-year.
Burgas posted the biggest H1 home prices gain among the bigger metropolitan markets with 16.5%.
A significant price increase was also recorded in Blagoevgrad - up to 525 euro/sq m, taking that market ever closer to Plovdiv where homes sell at 534 euro./sq m.
Varna, on the Black Sea, had the priciest residential market in H1.
Address said home prices should add 15% over the 2007 full-year period.(Dnevnik)
The upturn is attributed to the higher percentage of the home price covered by the mortgage and the increase in property prices.
Some 40% of H1 home purchase loans disbursed covered around 80% of the property price.
Credit Center said June mortgage lending outpaced December 2006 which is unusual because the last month of each year is typically the peak of mortgage lending.
The consultancy company said higher incomes and the great number of competitively prices mortgage products are fuelling mortgage growth.
In related news, local realtors Address Real Estate said domestic residential prices rose 10% in H1. The
The number of H1 property transactions is up 8% year-on-year.
Burgas posted the biggest H1 home prices gain among the bigger metropolitan markets with 16.5%.
A significant price increase was also recorded in Blagoevgrad - up to 525 euro/sq m, taking that market ever closer to Plovdiv where homes sell at 534 euro./sq m.
Varna, on the Black Sea, had the priciest residential market in H1.
Address said home prices should add 15% over the 2007 full-year period.(Dnevnik)
