Пазарът на ипотечни кредити в България по време на КОВИД-19 кризата
The Mortgage Loan Market in Bulgaria During the COVID-19 Crisis

Author(s): Simona Nikova
Subject(s): Economy, Business Economy / Management, Financial Markets, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: mortgage loans; interest rate; COVID-19 crisis
Summary/Abstract: This report analyzes the development of the mortgage lending market in Bulgaria during the COVID-19 crisis (2020–2022). Despite the initial economic shock, the sector demonstrated strong resilience and robust growth. The main thesis is that the mortgage lending boom is structurally sound and does not lead to excessive macroeconomic indebtedness. Housing loans increased by nearly 50%, supported by low interest rates, a stable banking system, and the perception of real estate as a hedge against inflation. The ratio of housing loans to GDP remained stable. The SWOT analysis highlights the sector’s strengths as well as risks related to future interest rate increases and inflationary pressures.

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