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Increase of 25% of started new residential buildings in Sofia in 2014
According to calculations of BULGARIAN PROPERTIES based on the data from the National Statistical Institute the number of started construction of new buildings in Sofia is 185. That is a 25% increase compared to 2013 and is also the biggest increase among the four biggest cities in Bulgaria.
“The increased number of started construction of new buildings is the answer from investors to both the limited supply and the increased demand for newly developed apartments in Sofia” the CEO of BULGARIAN PROPERTIES Polina Stoykova commented on the data.
For the first time since the beginning of the crisis, in 2014 there is an increase of the built-up area of the started construction of new buildings in Sofia, compared to the previous year. During last year the total built-up area of the started construction of new buildings is over 138,000 sq.m., which is an increase of almost 65%, compared to 2013.
“This huge increase of the built-up area also shows that in contrast to previous years, when the started construction was mainly of houses and small buildings, in 2014 there are higher numbers of started construction of larger buildings which is yet another indicator that the market is recovering” adds Polina Stoykova.
Plovdiv
The number of started construction of new buildings continues growing in Plovdiv and in 2014 it is 310, which is a 12% increase compared to 2013. The total built-up area of those buildings increased by 13.4% on a yearly basis and reached over 113,000 sq.m. in 2014.
Burgas
Burgas has the highest number of started construction of new buildings in 2014. Their number is 417 which is over 14% more compared to 2013. In 2014 the built-up area of these buildings is close to 276,000 sq.m., which is around 37% more than 2013.
Varna
Varna is the only big city in which the started new buildings decreased in 2014. The number of started construction of new residential buildings in Varna is 258. The total built-up area of those buildings in 2014 is more than 185,000 sq.m., which is about 25% less compared to 2013.
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