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BG Banks sell over 1000 mortgaged real estate

Article published from Focus Agency on 2008-10-18 07:00:00
Category: Properties in Bulgaria

Over 1000 homes are in state of guarantees for mortgage loans in Bulgarian financial institutions. According to Bulgarian National Bank’s latest data the share of bad credits in 2.16%. The number of loans for more than BGN 50 000 is approximately 50 000. Multiplying 2.16 times 50 000 the result would be 1000 buildings.

Despite this calculations, however, there can be no speculation of mass selling of mortgaged real estate, bankers claim. The share of bad credits is much lower than the critical 5-6%, where mass hysteria tends to start, reports The Trud Daily.
Source of the article Focus Agency
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