FREEZE OF INTEREST RATES
The construction and the notarial chamber have offered to the Bulgarian government to freeze the interest rates for mortgages in case that this is the only home of the mortgagee. It was proposed that the properties of the debtors should not be repossessed. This will stabilise the property market according to the chamber. Some analysts predict that the turnover in construction will decrease by 2 billion levs because of the recession. At the same time the debts between constuction companies will increase which will create a lot of tention.
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Category: Bulgaria, Property | Tags: Bulgarian government, construction business, debts, interest rates, Notarial Chamber, property market, recession Comment »