Bank Loans Used To Fund Most Property Deals

Bank loans remained the most popular means of payment in real estate transactions, according to data of fincity.bg, the Bulgarian comparison shop portal for financial products and services.Despite the crunch, property buyers opt for the classical mortgage because it offers the highest security for both buyers and sellers, the website said.Property leasing deals are scarce, with most firms focused on core services such as auto and equipment leasing and on running current portfolios.Funding schemes offered by developers are a last-resort option for buyers who cannot proof their income to banks.Fincity estimated the average consumer loan was 9100 leva in February, with most loans taken for five to 10 years.