Housing Loans in Bulgaria with Strongest Growth from the Beginning of the Year Since 2009
Thursday, 07 March 2019
Housing and consumer loans on the Bulgarian market recorded the strongest start of the year since 2009. They reported the most serious growth in January 2019 compared to the last decade, according to the data of the Bulgarian National Bank (BNB).
For the first month of the year housing loans rose by 11.1%. By comparison, in January 2018 their growth was within 8.2 per cent. At the end of the first month of the year, new home loans amounted to a total of 10.565 billion levs at a level of 9.506 billion levs a year earlier. The growth of this category of loans did not exceed 10% , and last was above this limit in January 2009.
Earlier this year, even stronger growth was reported for consumer credit. BNB data show that at the end of January 2019 the increase in this category was 17.6% on an annual basis to a total of 9.142 billion levs. For the same period in the last decade, consumer lending has five years of negative territory.