Now buyers take faster decision when purchasing a home in Bulgaria

The unstable political situation in Bulgaria in the recent months is prompting the majority of people who have saved money and need a dwelling to take a quick decision about purchase.

At the moment people with appropriations and need of private property or a larger one, are taking faster the decision to make such a deal. They believe that in any economic or political shocks, real estate will protect well their financial assets and, on the other hand, would improve their standard of living. In most cases, these people have their own savings approximately 40%-50% of the cost of purchasing property.

The reduction of the period of the release of a property for sale pending the conclusion of a contract for its sale has and other factors. One of them is the lower housing prices. During the first half of this year in most neighborhoods in the capital, prices fell by 1%-2%.

Another factor is the lower interest rates on mortgage loans, although they remain quite high compared to the average levels in the countries of the European Union.

Last but not least, influence on the quicker making for a decision on the acquisition of a new home is the interest on deposits, which also reported a decline. Average size of mortgage loans for the month of June is the equivalent of 34 960 EUR.

The ratio between the European and the Bulgarian currency is 56 percent in favor of the euro, reported by "Credit Center". Only in Sofia, the euro is preferred currency for traction on a mortgage during the month of June. The average amount drawn is 46,000 EUR. In Varna, Burgas and Plovdiv, Bgn is more popular, such as the average size of mortgage is lowest in Plovdiv - 22 562 EUR.