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Bulgaria Q3 nation-wide surge in building permits

Рубрика: Property news Източник: Dnevnik      According to the National Real Property Association (NRPA), some 5 mln sq m of housing estates will be placed on the market in 2007 which breaks down to 20,000 new homes with an average size of 100 sq m. Some 17,000-18,000 new homes are transacted annually in Bulgaria, said NRPA chairman Orlin Vladikov, adding that the developers will struggle to find takers for close to 5,000 new homes. Around 4,000 new homes with a combined area of 340,000 sq m listed for sale in 2005 are still on the market.

A total of 1,700 building permits were issued in Q3 for industrial, warehouse and entertainment developments with a combined floorage of 950,000 sq m. The biggest number of permits were issued in Plovdiv - 177 for developments with a combined area of 94,000 sq m, followed by Varna (106 permits), Sofia (102) and Blagoevgrad (90).

The developers of office buildings received 125 permits in Q3. They plan to develop office buildings with a combined area of 71,000 sq m. The biggest number of permits were issued in Sofia (24), followed by Plovdiv (14) and Blagoevgrad and Shumen with 10 each.