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Brizo 15% growth in issued permits for the construction of housing

Decrease in investor interest in the construction of administrative buildings

Oct 1, 2024 22:05 567

Brizo 15% growth in issued permits for the construction of housing  - 1

In the second quarter of 2024, the municipal administrations in the territory of the Sofia region (the capital) issued building permits for 250 residential buildings with 3,365 dwellings in them and 342,881 square meters of built-up area (GFA), administrative buildings/offices with 12,217 square meters of GFA and 56 other buildings with 61,024 square meters of GFA , the NSI data show.

Compared to the previous quarter, the number of issued permits for the construction of residential buildings increased by 15.2%, the dwellings in them - by 1.1%, but their total built-up area decreased by 1.0%. A decrease of 37.5% was recorded in the issued permits for the construction of administrative buildings, and in their total built-up area - by 66.2%. The issued permits for the construction of other buildings and their zoning are more by 60.0 and 15.2%, respectively.

Compared to the second quarter of 2023, the issued permits for the construction of new residential buildings decreased by 23.5%, and the number of dwellings in them and their expanded built-up area by 27.3 and 31.6%, respectively. The issued permits for the construction of administrative buildings are unchanged, but their RR decreased by 5.8%. Permits issued for the construction of other buildings are 7.7% more, but their zoning has decreased by 10.7%.

In the second quarter of 2024, the construction of 320 residential buildings with 2,653 dwellings in them and 311,923 sq. m of total built-up area, on 4 administrative buildings/offices with 4,868 sq. m. m of built-up area and 35 other buildings with 68,679 sq. m of built-up area. Compared to the previous quarter, new residential buildings started increased by 39.7%, and the dwellings in them and their total built-up area by 5.9 and 2.3%, respectively. The started other buildings are more by 66.7%, and their FRP - by 197.5%.

Compared to the second quarter of 2023, new residential building starts increased by 26.0% and dwellings in them decreased by 8.7%, while their total built-up area increased by 3.4%. The number of started administrative buildings decreased by 66.7%, and their total occupancy - by 65.0%. The started other types of buildings are less by 20.5%, but their total built-up area is more by 71.8%.

You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE