Building sector to increase steadily over the next 4-5 years
Bulgarian building sector would grow by an annual 12 to 15 per cent over the next four or five years, as long as the Government succeeds in providing an sufficient regulatory framework that would benefit everyone - from large investors to end-consumers, representative regional development minister Savin Kovachev told, as quoted by Stroitelstvo Gradut weekly.Sofia attracted about half of Bulgaria’s foreign direct investment and generated 30% of its gross domestic product , architect Atanass Tossev, who is a member of Bulgaria’s Chamber of Architects’ managing board, told. The capital should not try to centralize all production and human resources, though, he added. Regional governor Todor Modev declared the authorities’ firm decesion to work toward decentralisation and relocation of energy-and labour consuming industries beyond Sofia’s boundaries.
Bulgaria’s construction sector accounted for 7% of the country’s GDP in 2006, with 4 000 operational companies on the market. In last yeras, the market has seen a 12-15 per cent constant rise in the volumes of construction works. The trend will stay unchanged over the next 4-5 years, according to the forecasts of Bulgarian Construction Chamber, quoted by Stroitelstvo Gradut.
Prices of building materials, which have growth by 12.6 per cent in 2007, will be a decisive factor for the companies’ expediency. The main reasons behind the global real estate price hikes, were the rising prices of constructing materials and the domestic increase in the costs of building services, Stroitelstvo Gradut told.
Investment in building amounted to 42 per cent of the total volume of investment in the country for 2007. Analysts predict grew activity in industrial, retail and entertainment developments in the upcoming couple of years.
The first thing I want to say is, thank you Kiki for all you have done. The first time we spoke to Kiki we felt right at ease. Because we didn' t know how or when we were going to be in Bulgaria we didn't let her know. So when we got there we contacted Kiki. Because we were only there for a week we didn't have much time. She immediatly made sure we could visit a house the same day. She called us crazy because it was 400 km from varna were we stayed. But we went. She could not be there with us because it was such short notice, but the next day she was. Kiki cleared her calender to make sure we could look at some other houses with her. Besides the fact she showed us some good houses we also had a lot of fun. When we went to see the last one it was bingo. So we would buy the house. Kiki made sure a paper work was oke before we left back to Belgium. Now not even a month later we can call ourselfes the proud owners of a house in Bulgaria. What Kiki did for us was amazing. Everything went smoothly without any problems. She is a hardworking woman,(sometimes to hard working), she makes sure everything goes smoothly. And besides that she is a great person. We know we have a new friend for life. When we buy our next house it will be with Kiki. So again Kiki thank you, you are amazing
— Bart en Annick, Belgie