The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real estate market in the country before and after the Global Financial Crisis. Initially, prices rose rapidly driven by demand stimulated by bank loans. After the crisis, prices fell due to difficulties in accessing financing and the sale of properties purchased with loans that could no longer be serviced," the analysis stated.
The Global Financial Crisis of 2008/2009 completely changed the situation. Access to credit became severely restricted and demand for real estate froze. This episode should not be forgotten and should always serve as a sobering reminder in the face of overly optimistic expectations about the property market, BNB warns.
Tourism is one of the sectors in Bulgaria ready to the greatest extent to smoothly continue working after Bulgaria joins the Еurozone , the executive director of the National Tourism Board, Dr. Polina Karastoyanova, believes. In tourism, and at this..
Bulgaria can be a strategic partner of Japan for the region of Eastern and Central Europe. This was stated by Bulgarian President Rumen Radev as he welcomed the participants in the business breakfast organized by the Japan-Bulgaria Business..
Property prices on the Black Sea coast have risen by 20%, Nova TV reported, citing major real estate agencies in the Burgas region. Most of the buyers are from Bulgaria and are looking to buy large apartments as an investment, mainly for holiday use...
The preparation of the non-banking financial sector for the introduction of the euro is at a very advanced stage and a significant part of it has..
The liberalization of the electricity market for household consumers and their entering the free electricity market, something companies did years..
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