Bulgaria’s real estate construction sector marks 24.1 per cent growth in Q3
The amount of newly constructed real estate apartment blocks across Bulgaria increased by +24.1% in the third quarter of 2009, according to the National Statistics Institute (NSI) data.
The statistics show that, on an annual basis the growth of buildings completed accounts for 6.9%, while the increase of new apartments has grown by +30.2%. For the period May to July 2009, 679 properties were erected with 5,888 flats in total. For that period alone, there is a +51.1% increase in new apartments nationwide.
Varna led the way with 157 new buildings constructed, with a total of 1,204 new units, followed by Bourgas who had 134 buildings recently constructed making a total of 1,665 new units and Sofia with 35 new buildings recently constructed as well as 549 new apartments. The report indicated that there was no new construction in the towns of Razgrad, Montana and Haskovo in the same period.
The figures indicate that the total new marketable area consists of more than 411,000sqm of apartment space, or a +15.9% increase compared to the corresponding period for 2008. However, according to the report, on average, flats are becoming smaller. In the second quarter of 2009, the average living area in new construction amounted to 75.5sqm, which in the third quarter decreased to 69.9sqm.
