Bulgarian Banks Establish Real Estate Agencies

An increasing number of Bulgarian banks are registering their own real estate agencies to have a closer access to mortgage sector.

These bank established real estate agencies are compete to offer mortgage home buyers incentives unavailable to other property shoppers. They also provide legal advice, insurance and leasing options.

A Dnevnik poll found that Raiffeisenbank (Bulgaria) EAD, Postbank, UniCredit Bulbank, Bulgarian American Credit Bank (BACB) and Piraeus Bank all have registered real estate divisions.

Bulgaria biggest bank UniCredit Bulbank and Italian property manamger Pirelli Real Estate announced a local joint venture. The company is 25% owned by UniCredit who said tath will focus on larger residential and business developments.propertiesbulgarian.info