Bulgaria is in sixth place in property ownership

Eurostat data show that Bulgaria is in sixth place in the possession of real estate property per capita. The first place in the ranking is for Romania with 96.6% ownership. The second position is Lithuania with 92.3%, and the bronze medal is for Croatia - 92.1%. The fourth and fifth are respectively for Slovaks and Hungarians, with 90.2% and 89.9%. For Bulgaria the percentage is 87.2%.

Under the average for Europe rate (at 70.9%) possession of immovable properties are the French, the Dutch, Danes, Britons, as well as residents of Luxembourg, Sweden and Ireland.

The differences in the percentage of property ownership is primarily due to historical and cultural factors. For example, the high level of the tenants in the Federal Republic is connected with the peculiarities of the German mentality. In Germany the possession of property is not considered prestigious in so far as the owners may not be mobile and are obliged to stand in one place or if they have to move to live in another city, that will be difficult, as they will need to sell the dwelling at one and buy at other city. The banks also have become more cautious in granting a mortgage loan and now they want 30%-40% self-financing.

Unlike in Germany, in France the possession of immovable property is regarded as a sure way for the investment of funds. Property prices there grow more rapidly than the incomes of the population. It's hard to buy a flat or a house of the primary market. In almost all regions of France, the demand exceeds the supply.

Although during the booming real estate market, mortgage lending gained momentum, in countries like Bulgaria and Romania it remains a fairly lower level than in many Western European countries.