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Real estate construction sees over 24% growth in second quarter

Wednesday, Sep 09, 2009

Of many popular locations in Bulgaria, Varna seems to be leading the way when it comes to growth of new construction within the country. According to data released by the National Statistics Institute, the construction of new apartment blocks in Bulgaria has increased in the second quarter of 2009, by 24.1%
Varna has seen 157 new buildings created, yielding 1204 units. Bourgas & Sofia are also high on the list. Between them 169 new apartment blocks have been built, creating over 2,200 units.
The good news however, does not include places such as Razgrad, Montana , & Haskovo, where new construction has been on hold for the same period.
Interestingly, the report by the institute also indicates that within the new builds average living space has been reduced from an average of just over 75 sq meters to approximately 69.9 sq metres.

Source: Propertyworld.com