Construction Boom: Bulgaria Experiences a Surge in New Developments!

Bulgaria is ushering in the new year with impressive figures in the construction industry! According to the latest data from the National Statistical Institute, 1,535 new residential buildings were commenced in the last quarter of 2023, marking a 22.6% increase compared to the same period the previous year. Currently, 7,382 apartments and houses are actively under construction!

The most impressive numbers come from the cities of Sliven, Kardzhali, and Silistra, where construction is witnessing a colossal growth, reaching 455%, 400%, and 300%, respectively. And this is just the beginning! Permits for the construction of new residential units have also increased by 19%, with a total number of 16,788, with astonishing growth in Kardzhali reaching 736%, as well as significant growth in Haskovo (+300%) and Ruse (+290%).

This construction boom not only supports the economic development of the country by creating new job opportunities but also brings tremendous benefits to property buyers. Demand for apartments and houses remains high, and developers are actively expanding their projects not only in major cities but also in smaller towns.

Preference is given to private houses, reflecting a shift in consumer preferences. This is an ideal time for investors and property buyers in Bulgaria, as the market offers a vast variety of options for acquisition.