2024-05-03 16:44:17
Only 6 administrative buildings were started in the first quarter
The boom in housing construction in our country began to cool down slightly, after the growth in the number of permits for new housing was reduced to only 4.3% on an annual basis in the first quarter. Compared to the previous fourth quarter of 2023, there is even a drop of 19.9%, but it is always typical for the beginning of the year.
The cooling was already felt in 2023,
with local authorities issuing 0.05% fewer building permits for residential buildings over the year.
Historically, new home construction isn’t in a slump right now, but it still can’t compare to the boom on the eve of the global financial crisis. In the first quarter of 2008, 2,267 permits for the construction of residential buildings were issued in our country. Their number greatly decreased in the following years, but in the first three months of 2024, there were still 1,823 permits.
Three cities stand out sharply from the general picture
– the capital, Varna and Plovdiv. Compared to the previous quarter, the most daring in their newly started projects were the entrepreneurs in the Varna region with
growth of the total built-up area of residential buildings of 94.3%
A strong increase was also recorded in Sofia – by 35.3%, and in the Plovdiv region the increase was by 19.7 percent. At the same time, newly started residential buildings in terms of their total area decreased in the Burgas region by 20.2%.
The construction of the most new homes has started in Sofia – 2,506, followed by Varna with 1,910 and Burgas with 1,470. At the same time, the construction of only 1,152 homes has started in Plovdiv.
The construction of administrative and other buildings is also at a slight standstill. In the first quarter in Bulgaria
only six administrative or office buildings have been started
with a total area of 3,998 sq. m and 550 others with a total built-up area of just over 392,000 sq. m. The number and built-up area of newly built offices decreased both quarterly and annually, while newly started other buildings decreased in number and total area.
The country’s leader in construction of other buildings is the Plovdiv region with almost 113 thousand square meters, followed by Varna with just over 66 thousand square meters and Stara Zagora with 38 thousand square meters.