The mortgage loans growth and price boom Bulgaria’s property market experienced could be over soon.

Such trend was expected in Europe, according to the European Mortgage Federation Hypostat annual report, Dnevnik daily said.

Levon Hampartzoumian, president of the Association of Commercial Banks said that Bulgaria could not compare to the big property markets, but similar market development were to be expected in Bulgaria.

Residential loans were the fastest growing and the most vigorous market, Hampartzoumian told Dnevnik.

Mortgage loans marked a decrease in the growth from 97.4 to 68.9 per cent for the first nine months of 2006, Dnevnik said.

Interest in euro mortgages could decrease by one per cent to 5.5 or six per cent in the coming couple of years, the report said.