Pireaus Bank is now offering interest only mortgages for people buying Bulgarian properties. Many foreign investors are buying Bulgarian properties off-plan with a view to obtaining capital gain and rental income from tourist rentals once completed. Piraeus Bank London, the UK branch of Greece’s Piraeus Bank, has launched an interest-only euro mortgage product on Bulgarian property exclusive to the UK and Bulgaria. The Pireaus Head of Retail Banking added that, “The low price of Bulgarian property has made the market very attractive for investors. Many are buying Bulgarian properties off plan and expecting capital gains and rental income from tourist rentals once completed. Our finance product which combines a 10 year interest only period and one which factors in up to 30% of the projected rental income is very interesting for investors.”
Source: PropertyWiseBulgaria