Bulgarians continue to invest in properties as a hedge against inflation

Bulgarians continue to buy properties to protect their savings from inflation.

The data of the Bulgarian National Bank also confirm it - double growth in mortgage loans compared to bank deposits.

Experts explain that customers continue to take out floating-rate loans despite the European Central Bank's policy.

At the same time, real estate agents report a drop of about 10% in sales.

Households held BGN 75.485 billion on deposit with banks at the end of August, with the amount up by 9.8% in comparison with the same period of 2022 and down compared to July's growth.

Loans taken out for purchase of properties are increasing and have now reached BGN 18.490 billion, up by 18.7% on year-on-year basis (18.3% annual increase in July 2023).