In recent months, sales of residential real estate in major cities of Bulgaria have increased.The demand for housing continues to exceed the supply, which leads to a steady increase in prices.
Georgy Shopov, chairman of the National Association of Construction Entrepreneurs, believes that it is the imbalance between supply and demand that is the main reason for the rise in prices for apartments and houses. In his opinion, municipal authorities should focus on reducing bureaucratic obstacles to obtaining building permits, opening up new areas for development and improving infrastructure.These measures will attract more investments and help to stabilize the cost of housing.
Excessive administrative regulation leads to the fact that the procedure for obtaining a building permit can take up to five years. According to Shopov, this directly leads to a shortage of apartments. Another problem is fragmented construction.New buildings are often built in small isolated areas between existing buildings, rather than as part of coordinated planning for larger urban areas.Shopov does not consider the statements about the construction boom in Sofia to be correct. He noted that even in the most active post-Soviet years, about 14,000 housing units were built annually.For comparison, in the socialist era, urban planning was aimed at building 30,000 housing units per year.
The average price per square meter in the Bulgarian capital now stands at 1,720 euros.
The results of 2024 in the Bulgarian real estate market and other foreign markets.
Source: Novinite
