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Bulgaria Property Sales Rise In the 3rd Quarter

Veliko Tarnovo real estate

Veliko Tarnovo real estate

Bulgarian real estate market marked a growth of 1.42% in sales on an annual basis during the third quarter of 2013, reports Novinite.com.

According to the English issue of the online media, during the third quarter a total of 59 475 Bulgarian properties were sold.

The property sales in the bigger regional cities account for 53% of the total national sales.

The highest price increase compared to the same period in 2012 is registered in Burgas, followed by Sofia and Plovdiv.

 

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Decline in the construction business

Construction in August has declined compared to July this year, and compared with the same month last year, according to the National Statistical Institute (NSI), reports Dnevnik.

 

Usually the summer months are the strongest in the sector because of the favourable weather conditions, but this August NSI reported shrinking in the construction of buildings and infrastructure.

 

Preliminary NSI data shows that in August 2013 the index of production in the sector, calculated on the basis of seasonally adjusted data, has dropped by 1% compared to the previous month, and by 9.5% from levels reported in August 2012.

 

Compared to July 2013 civil construction decreased by 1.1 % and building construction – by 0.8%. Compared to August 2012 the decline was respectively 12.3% and 7.2% .

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200 new apartments to be built in Veliko Tarnovo

Veliko-Tarnovo-hero-686x262_tcm55-8834Construction project worth 7 million leva is set to finance the building of 200 new apartments in a new quarter of Veliko Tarnovo. The properties are to be built at the site of the former demolished Pharmacy Management quarters in Veliko Tarnovo, reports the local newspaper “Borba”. The information is provided by the “Construction and Spatial Planning” department in Veliko Tarnovo.

 
According to it, the papers for the new construction projects are already approved and signed. This is the first major site to be approved after the construction boom and the severe crisis that hit the industry.

 
In addition to the 200 apartments, the project includes the construction of a number of retail outlets, including a superstore, underground carpark and recreation areas. Office buildings are also going to be built and they would be accessed from Marmarliyska Street.

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Investors to build traditional Revival houses in Zlataritsa, Bulgaria

Character homes in Bulgaria

Character homes in Bulgaria

South African investors to build architectural reserve, consisting or traditional Bulgarian houses from the Revival Period, near Zlataritsa. Visitors would be able to see a variety of traditional homes characteristic of different Bulgarian regions – Arbanasi, Strandzha, Pirin, etc.

This interesting Bulgaria real estate is located by the river and is planned to have four or five houses in which tourists will have the opportunity to see and learn more about authentic Bulgarian traditions from different ethnographic regions of the country.

The complex will be on land of about 100 hectares. Investors have been buying plots and dealing with land consolidation for the past three years. The complex will also have a dairy and farm.

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Bulgaria among the cheapest places for construction

Construction Site SilhouetteThe most expensive construction market is Hong Kong. The top 10 includes five European countries, reports Investor.bg.

 

Bulgaria is among the ten cheapest states for construction in the world, according to consultancy firm EC Harris. Bulgaria ranks 6th in cheapest construction destination and 42nd for construction costs.

 

The cheapest destination for building is India, followed by Indonesia, Vietnam, Morocco and Malaysia. A position behind Bulgaria is Bosnia and Herzegovina, and Romania is the tenth cheapest destination for construction in the world.

 

Hong Kong, on the other hand, has the most expensive construction market in the world. Among the top 10 most expensive construction destinations are also five European countries – Switzerland ranks second, Denmark third, Sweden fourth, France 8th and Belgium 10th.

 

Macau is rated by the company on the 5th place, Australia – 6th, Japan – 7th and Singapore – 9th.

 

Although the economies of developing countries are slowing,and the recovery in developed countries is lagging behind, experts predict growth in the construction industry worldwide. They also say that by 2025 the volume of construction output will grow by 70% to 15 trillion dollars.

 

Growth is also expected to be concentrated in the developing economies, which by 2025 will contribute with 63% to the global construction output. For comparison – in 2012 their share was 52%.