Increasingly, Bulgarian banks are setting up their own real estate agencies.

These agencies will cater directly to mortgage borrowers, according to Dnevnik newspaper.

Bank-owned agencies can offer homebuyers incentives unavailable elsewhere. They also provide legal advice, insurance and leasing options.

Raiffeisenbank Bulgaria, Postbank, UniCredit Bulbank, Bulgarian American Credit Bank (BACB) and Piraeus Bank all have registered real estate divisions, according to a Dnevnik investigation.

The real estate agencies complement the real estate investment trust business that some local banks, such as Central Co-operative Bank, BACB and Corporate Bank, already have in place.