Sun, Nov 22 2009

Q1 construction permits down 28% in Bulgaria

Fri, May 22 2009 14:40 CET byAlex Bivol 1624 Views
Q1 construction permits down 28% in Bulgaria

Photo: Maria Subotinova

Bulgarian authorities have issued 2527 construction permits in the first quarter of 2009, a decrease of 28 per cent over the same period of the previous year, data from the National Statistical Institute data showed on May 22.

Residential developments continued to account for the largest share of the total, with 1470 permits granted for a total area of 895 000 sq m, down from 2267 permits granted for developments totalling 1.6 million sq m in January-March 2008.

Plovdiv region received the largest number of permits (288), followed by Bourgas and Varna, with 248 and 232 permits, respectively. A total 219 permits were issued in Sofia.

The four cities accounted for 39 per cent of all building permits issued in January-March, including 47.3 per cent of all residential development permits for a total area of more than 589 300 sq m (65.8 per cent of the total).

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Sharp reduction in construction of real estate

A total of 3897 new flats in 547 new buildings were developed in Q1 of 2009, mostly in the seaside cities of Varna and Bourgas, followed by Plovdiv and Sofia.

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