Mortgage crediting in November 2007 increased in number and amount, CreditCener data showed.

The average amount of credits raised by nearly 11 per cent to 42 600 euro, compared to the October 2007 figures, investor.bg said.

Property prices increased and faith that this increase would continue made Bulgarians apply for mortgage credits and buy real estate, despite the high interest rates, CreditCenter said.

The number of mortgage credits granted in November reached record heights, with a 42 per cent increase to nearly 6.4 million euro.

The number of credits above 50 000 euro increased by 200 per cent in November 2007, again because of property prices increases.

Mostly people aged between 25 and 35 took credits from January to November 2007. They accounted for 56.23 per cent of all the people who took out credits. The second biggest group pf mortgage credits takers were those aged between 35 and 40, with 26.43 per cent.

Mortgage credits taken were mostly above 50 000 euro.

Taking out new credits was expected to continue at least until mid-December, CreditCener said.

Source: Sofia Echo