Banks in Bulgaria start to offer loans for foreign property buyers, but with conditions attached

[Nicholas Wallwork]

Foreign property investors who have largely deserted the Bulgarian real estate market are set to be lured as more loans are made available for overseas buyers.

The real estate market in the country has been in a bit of a slump since a large chunk of overseas buyers from Britain and Ireland deserted the country at the height of the global economic crisis and have not yet returned.

Click Here to Read The Full Story and Add your Own Comments to Banks in Bulgaria start to offer loans for foreign property buyers, but with conditions attached

 

[AlexD]

the idea is good but UniCredit limits their loans to selected development projects funded by the bank, which are not the best deal in terms of value for money.

 

[property owner]

Not sure that this is the right answer for banks in Bulgaria as it will only deepen their debt. Also not the right solution for people who have already purchased because they are unlikely to get out what they originally put in. Surely a better solution would be to invest in the manufacturing or farming sector and build up the economy rather than rely on tourism.