In Bulgaria, purchasing a 100-square meter apartment requires the equivalent of 199 monthly salaries, according to a recent study that compares real estate prices across 62 countries against average local wages. The report by BestBrokers.com identifies Denmark as the most affordable country in Europe for homebuyers relative to average income, where the average cost of…
Bulgaria’s state gas supply company Bulgargaz has once again blocked all accounts belonging to the municipal heating company Toplofikatsia Sofia (Heating Systems Sofia). This development was initially reported by Focus media, citing reliable sources, and later confirmed by BNT. This marks the first time such action has been taken by Bulgargaz, despite numerous letters regarding…
A sociological survey conducted by the Trend agency and commissioned by the Expert Club for Economics and Politics (EKIP) reveals that 73% of Bulgarians feel their savings have diminished due to high inflation since mid-2021. Max Baklayan, an investment expert at EKIP, explained that the proper approach to finances was to prioritize saving for future…
Young people in Bulgaria are expressing significant concerns about their financial futures, according to alarming new data. The first of its kind study, commissioned by the Association “Network for the Development of Personality and Talents” and conducted by the Trend research center, surveyed individuals aged 15 to 29, including students and those already in the…
Starting on October 1, new restrictions imposed by the Bulgarian National Bank (BNB) on housing loans took effect. Under these regulations, commercial banks are prohibited from lending more than 85% of the property’s market value. Additionally, the maximum repayment period for mortgage loans is capped at 30 years, and borrowers’ monthly installments cannot exceed 50%…
According to the latest Global Property Index from international consulting firm Deloitte, Bulgaria boasts the highest number of dwellings per 1,000 people in Europe, with 668 homes for every 1,000 citizens. Spain follows in the second place with 559 dwellings per 1,000 people, while France ranks third with 553. Countries like Germany, Belgium and Norway,…
The Financial Supervision Commission (FSC) has alerted its regulated entities about advancing to the next phase of preparations for introducing the euro in Bulgaria, highlighting the crucial role of the non-banking financial sector. As outlined in the Action Plan for euro adoption, the FSC is tasked with initiating the process of updating information systems in…