Housing Loans in Bulgaria Surge by 25.9%, Reaching BGN 23.6 Billion

Housing loans in Bulgaria have continued to grow rapidly. Over the past 12 months, the total amount of bank loans for housing has increased by BGN 4.85 billion, reaching BGN 23.617 billion by the end of September, according to data from the Bulgarian National Bank (BNB).

This represents an annual growth rate of 25.9%. In comparison, at the end of September 2023, the total for housing loans stood at BGN 18.763 billion. The growth rate has accelerated in September, as the annual increase in August was 25.5%, reports BTA.

Consumer loans have also grown by 15% on an annual basis in September, totaling BGN 18.968 billion. Lending in this segment is also accelerating, following a 14.7% annual increase in the previous month.

Bank loans to non-financial businesses reached BGN 44.387 billion by the end of September, growing 8.2% year-on-year. However, this growth rate has slowed compared to the 9.5% annual increase in August.

Other types of loans have risen by 13.2% year-on-year, reaching BGN 448.8 million, while loans for "Employers and Self-Employed" grew by 14.7% to BGN 512.8 million.

Loans granted to financial enterprises amounted to BGN 8.179 billion (4.2% of GDP) at the end of September 2024. Compared to September 2023, these loans increased by 12%.

By the end of September 2024, the total amount of loans for the non-government sector reached BGN 99.375 billion, representing an annual growth of 13.6%. These loans accounted for 50.7% of Bulgaria's GDP.