New residential construction in Bulgaria down 15% Y/Y in Q3 2010
A total 598 new residential buildings sprouted in Bulgaria in the third quarter of 2010, marking a 15% year-on-year decline, showed figures of the National Statistical Institute (NSI). New housing contracted by 21% in annual terms to 4,360 units in the period.
The bulk of the new buildings were launched in the Black Sea areas of Varna and Burgas, which accommodated 112 new buildings with 831 flats and 95 buildings with 888 units, respectively. New-built homes had a combined area of 208,000 square metres for July to September, or 17.4% less than in the corresponding period of 2009, according to the report.
The largest flats and houses were built in the town of Targovishte, boasting an average floor space of 155 square metres, followed by Kyustendil with 131 square metres. The smallest homes were launched in Plovdiv and Vratsa, spanning on average 52 square metres and 53 square metres, respectively.