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Bulgaria's Construction Projects See Tangible Decline

Date: 21.08.2009

Bulgaria's construction projects have seen a substantial decline in the second quarter of 2009 ranging from 32% for residential buildings to 30% for business buildings.

The Bulgarian administration has issued a little over 3 000 construction permits for April-June 2009, according to National Statistical Institute data released Friday.

The permits are for a total of 1 832 residential buildings with 4 506 homes and an all-out built-up area of 637 500 square meters; 79 administrative/office buildings with an all-out built-up area of 88 600 square meters; 1 160 other buildings with an all-out built-up area of 661 400 square meters.

Compared to the second quarter of 2008, the planned residential buildings are 32% fewer, and the new homes - 62,1% fewer. The number of office buildings declines by 26,9%, and the number of other buildings - by 24,3%.

The total built-up area also declines - 61% decline for residential projects, 30% - for business/office buildings, 35,3% for other buildings.

Compared to the first quarter of 2009, however, Bulgaria's total number of construction permits has increased in the second quarter by 24,6%; yet, the number of homes is down by 31%, and the total all-out area - by 29%.

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