Over 90% of Bulgarians Prefer Real Estate or Bank Savings, Expert Says

Georgi Vuldjev, editor-in-chief of EKIP (Expert Club for Economics and Politics), stated in an interview with the Bulgarian National Radio that more than 90% of Bulgarians choose to save either in real estate or through bank deposits. He shared insights from a sociological survey conducted by Trend Research on behalf of EKIP, exploring Bulgarian saving habits and attitudes.

Vuldjev highlighted a widespread lack of awareness regarding alternative investment options, pointing to the underdeveloped capital and domestic government debt markets as a contributing factor. He also noted that banks’ deposit interest rates remain very low, which in turn allows lenders to offer relatively cheap housing loans.

Discussing the behavior of Bulgarians during the upcoming euro transition, Vuldjev suggested that the queues at exchange offices are driven more by limited financial literacy than by any attempt to circumvent regulations. Many citizens are unaware that they can exchange lev at the BNB without incurring conversion fees.

Regarding overall wealth, Vuldjev explained that Bulgarians have seen nominal growth in their financial standing in recent years, though this does not necessarily reflect real gains. He also provided preliminary commentary on the 2026 budget, noting it will closely resemble last year’s fiscal plan, with efforts to slow, rather than halt, expenditure growth. Pensions are expected to rise by 8–9% under the Swiss rule, and the public sector may see an average salary increase of 10%, though Vuldjev considered this high and suggested targeting those who missed raises previously, especially in security services.

On the Supreme Judicial Council’s proposed salary hikes of 12–13%, Vuldjev called the demands excessive, equating them to an extra month’s average salary. Lastly, he addressed the recent news of Lukoil planning to sell its foreign assets following U.S. sanctions, adding that Neftohim will likely need to be sold as well, with the challenge lying in selecting the most effective buyer.

Source: BNR interview