News
Banks finance more than 80% of property value
14.10.2010
The fall in property prices and the higher deductibles are the reasons 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 Credit Center.The market is stabilizing and the proof is the behavior of participants. Sellers make more difficult concessions, and buyers seek more quickly finalize transactions. 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 Varna - 32 620 EUR.
For the first time in two years, there is an increase of borrowers aged under 25 who buy attractive properties with more than 80% bank financing. Most loans continue to be granted to persons between 26 and 35 years. "The percentage of households proceeded to obtain a large loan - 70 000. This item is associated first with the ability to pay higher monthly fees, and - with a revival of the luxury segment of the property market ", commented by Credit Center.
Over one third of new borrowers believe they will be able to repay the loan over a period between 16 and 20 years. Nearly 30% believe they will be able to withstand the bank for 10-15 years. Remains a high proportion of those who are willing to pay housing over 25 years - 17%. In September there is and increase in the percentage of funding from banks. Already there are deals that receive external funding amounting up to 70-80% of property value. Less than 4% experienced 80-90% financing.
News
PARLIAMENTARY ECO-COMMITTEE SUPPORTED THE CREATION OF A NATIONAL PARK "BLACK SEA"
10.07.2013
After yesterday the Parliamentary Committee on Regional Development approved the project for a moratorium on the disposal transactions and construction on public lands in the Black...
AIRPORT VARNA OPENS NEXT WEEK
21.02.2012
The full exploitation of the airport \\\"Varna\\\" will begin on February 29. This was announced by the governor Dancho Simeonov. Airport stopped working because of repair of October...
HILLARY CLINTON IN BULGARIA
05.02.2012
Bulgarian-U.S. relations are wide and thorough, says Hillary Clinton The relations between our two countries are wide and thorough, visiting U.S. Secretary of State Hillary Clinton...