Construction is everywhere in Bulgaria. Most Bulgarian major cities and resort destinations have seen a boom in construction in recent years. Construction of residential, commercial and industrial properties is a very attractive investment proposition in Bulgaria since construction and land costs are fairly low, while the demand for modern and high quality real estate in booming. In addition, Bulgarian and foreign banks are competing hard in lending money to businesses and households for the purchase of real estate in Bulgaria.
Improvements of the standard of living of the Bulgarian people and strong foreign interest have created serious demand for residential properties in Bulgaria.
In Sofia alone, there are already 5 brand new large shopping malls and another 8 in progress. Varna will soon have 3 brand new shopping malls itself. Construction of quality shopping and entertainment areas has seen a boom in recent years. Major Western European companies, like Kaufland of Germany, are building large chains of retail shopping throughout the country.
As Bulgarian businesses are experiencing rapid growth and as foreign companies are establishing operations in Bulgaria there has been massive investment in construction of commercial buildings in most Bulgarian major locations.
As Bulgaria has joined the European Union, projects in the industrial construction sector are now eligible for EU financing. Bulgarian offers tremendous opportunities in the construction of small to medium size factories and this process is quickly developing throughout the entire country.
