Bulgarian construction sector marks an increase in 2Q10

Bulgarian construction sector marks an increase in 2Q10
Published: 24 August 2010

A marked rise in the Bulgaria’s construction sector was recorded in the second quarter of 2010, compared to the preceding three months, the National Statistics Institute announced on August 23 2010.

Data reveals that construction permits increased by 46 per cent, while actual construction soared by about 70 per cent. Despite this trend, on an annual basis this still represents a 21 per cent decline, the report said.

Sofia, Varna, Plovdiv and Bourgas are the four cities with the most active ongoing construction projects at the moment, the report said.

In total, 1441 real estate buildings were authourised for construction in the second quarter, with 3933 units in total, encompassing about 509,000m2 in area, or a 46 per cent rise in quarterly terms. This is still 21.3 per cent lower than 2Q09.

Varna leads the charts with 176 new buildings authorised for construction, followed by Sofia with 166, Bourgas with 135 and Plovdiv with 121, the report said.

Office buildings also marked an increase in Q2 of 2010, with 58 new sites constructed, embracing 36 697 sq m of built up area, or 18.4 per cent on quarterly basis, and a decline of 26.6 per cent on annual basis, the report said.