Bulgaria's Residential Construction Down 27% in Q3 Y/Y

Compared to the second quarter of 2010, the number of started residential buildings in Bulgaria is down 4%, but the number of apartments is up 25%. File photo

The building permits for residential construction issued in Bulgaria in the third quarter of 2010 are down 9% compared to the second quarter while the units inside are 13% less, according to data from the National Statistics Institute, released Tuesday.

Meanwhile, during the same period, office construction is down 3.4% while other types of buildings construction are up 3.6%.

In the third quarter of 2010, local administrations have issued permits for the construction of 1 311 residential buildings with a total of 3 405 apartment units; 56 office buildings, and 1 213 other buildings.

Compared to the third quarter of 2009, building permits for residential construction are down 27% with 35% less apartments; office buildings are down 33% and other buildings - down 6%.

In the third quarter of 2010, the most building permits have been issued in the capital Sofia (180), followed by the second largest city of Plovdiv (128), the Sofia region (124), the Black Sea cities of Varna (120) and Burgas (101).

The third quarter of 2010, saw the launch of the construction of 757 residential buildings with 2 260 apartments; 29 office buildings, and 514 other types of buildings.

Compared to the second quarter of 2010, the number of started residential buildings is down 4%, but the number of apartments is up 25%; office buildings are 19% down and other buildings – 6%, however, their total area is up 32%.

The most buildings have been started in the region of Varna (95 residential and 36 other), the capital Sofia (89 residential and 19 other), followed by the Sofia region, and the southern city of Stara Zagora.

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