site.btaHousing Loans Up by 26.5% at end-October, Y/Y

Housing loans in Bulgaria grew by 26.5% year-on-year, reaching BGN 24.124 billion at the end of October 2024, according to data from the Bulgarian National Bank (BNB). This marks an increase from the previous month’s growth rate of 25.9%. Over the past 12 months, the amount of housing loans granted by commercial banks in Bulgaria went up by just over BGN 5 billion. For comparison, at the end of October 2023, housing loans stood at BGN 19.07 billion. In October 2024, housing loans grew by BGN 507 million, or 2.1%, compared to September.

In response to the rapid growth of granted housing loans in recent years, measures targeting real estate-secured loans were introduced by the BNB in October 2024.

Consumer loans in Bulgaria rose by 15% year-on-year, reaching BGN 19.156 billion at the end of October, BNB’s data show. The growth rate remained consistent with September 2024.

The total amount of household loans in this country reached BGN 45.1 billion by the end of October, accounting for 23% of Bulgaria’s gross domestic product (GDP). Household loans went up 20.6% in October year-on-year.

Loans to non-financial businesses increased by 8.6% year-on-year, reaching BGN 47.3 billion by the end of October. The pace of growth has picked up from the 8.2% annual growth recorded in September.

Loans to financial enterprises stood at BGN 8.1 billion at end-October 2024, up by 9.7% compared to October 2023, while annual growth in September 2024 was 12%.

The total amount of loans to the non-governmental sector in Bulgaria reached BGN 100.5 billion, or 51.3% of the country’s GDP. In October 2024, these loans grew by 13.8% year-on-year, maintaining a similar pace to the 13.6% annual increase in September 2024.