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Volume of finished apartment properties in Bulgaria drops in 2011 by 11.15%.

07 May 12

According to the data published by the National Statistics Institute, the number of the apartments issued with a final usage permit (Act 16) in 2010 was 15,717, yet in 2011 it was 14,012 showing a 11.15% decrease. Most apartments were completed in Bourgas (3,720 units) followed by Varna (2,732 units) and Sofia just (946 units). The region of least activity in the new build property sector was Vidin where only 73 units were completed.


Previous data from 2009-10 showed a drop of 35% as the recession took hold and severally impacted the construction industry. However, it is still thought that not less than 2/3 of the apartments finished in 2011 resulted from delayed projects from the pre-recession property boom era.