Bulgarian Office Building Construction Sees 25% Increase in Q1, 2014

In Q1 2014, Bulgaria's municipal authorities have issued building permits for the construction of 1015 residential buildings, 44 office buildings and 917 other buildings.

As compared to the previous quarter, the building permits for residential buildings decreased by 1.6%, their dwellings-by7.2%, while the gross building area rose by 4.8%, according to the latest data provided by the National Statistical Institute (NSI). The issued building permits for administrative buildings increased by 22.2%, but their gross building area fell by 42.8%. The number of issued building permits of other buildings decreased by 17.8% and their gross building area-by 21.3%.

As compared to the first quarter of 2013, the issued building permits for new residential buildings increased by 32.9%, their dwellings-by 80.7% and the gross building area-by 69.0%. The issued building permits of administrative buildings increased by 37.5% and the other buildings-by1.6%. The gross building area of the administrative buildings increased by 38.1% and the gross building area of other buildings rose by 1.9%.

In the first quarter of 2014 began the construction of 504 residential buildings, and 30 administrative buildings/offices. As compared to the previous three months, the number of new residential buildings construction decreased by 14.7%, and the new administrative buildings increased by 25.0%, but their gross building area dropped by 55.1%.

As compared to the first quarter of 2013, the new residential buildings under construction increased by 26.3%, their dwellings-by 6.8% and the gross building area-by 21.9%. The number of new administrative buildings rose by 36.4%, and their gross building area-by 16.5%. An increase is observed in the other buildings under construction by 25.6% and in their gross building area-by 48.5%.

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Bulgarian Office Building Construction Sees 25% Increase in Q1, 2014