Housing Loan Trends in Bulgaria and Croatia: An Analysis of Some Important Indicators (2011-2022)

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Dragomir Stefanov, Maria Dimitrova

Abstract

This article aims to analyse the residential real estate market in Bulgaria and Croatia, focusing on the period from 2011 to 2022. The study examines the main indicators for this market and especially for the financing of transactions with residential properties – interest rate on housing loans and volumes of granted housing loans for the respective years. Data on the housing price index as well as its relationship with other indicators were also examined. A comparison with the levels of interest rates on housing loans in the Euro Area and the European Union was also made. The aim is to identify basic trends in the considered 12-year period, as well as factors affecting the mortgage credit market in Bulgaria through the analysis of these and other indicators and comparing it with the last country admitted to the Euro Area – Croatia. The article contributes to the overall understanding of the dynamics of the real estate market in the country, outlining the factors that have shaped its evolution, as well as outlining future trends related to the residential real estate trade.

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