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Construction Costs in Bulgaria
Cost of Construction in Bulgaria
NOTES ABOUT THE BULGARIAN CONSTRUCTION SECTOR

  • Rapidly growing sector attracting serious foreign and domestic investment
  • Large percentage of FDI locating in real estate.
  • 1,5 million m2 new construction completed in 2005
  • 2 million m2 new construction expected to be completed in 2006
  • Massive construction in the main tourist areas
  1. Black sea
  2. Mountain resorts
  3. Larger cities especially Sofia, other cities are following
  • Relatively cheap cost of land, prices have been going up lately
  • Relatively cheap cost of labor Average salary 400 Euros
  • Relatively cheap cost of construction finished construction comes at $250-300 Euros per square meter.
     
  • Lack of modern facilities trivial to Western Europe (shopping centers, service centers, modern office buildings, high quality residential areas and so on), has fueled construction demand
  • Great price difference between Bulgaria and Western Europe, making buying of real estate in Bulgaria a very attractive investment for EU countries.
  • Bulgaria is rapidly becoming a fashionable property investment location for EU countries, especially the UK, Ireland, Germany, the Netherlands, Greece and Italy.
  • There are already UK investment funds locating money in Bulgarian real estate. Example: Equest Balkan Properties: 200 million Euro fund.
  • The real estate market will need continued interest from foreign investors to sustain its strong price appreciation.

Overall, there is a very good return in real estate investment in Bulgaria, oftentimes over 100% +.

Cost of basic construction
The average cost of construction in Bulgaria for a quality building with construction done, wall plastered, and ceilings done is
250-350 Euros per m2

Additional costs
The additional costs of construction like bathroom modeling, hardwood floor installation and all others comes to another
50-70 Euros per m2

At present it is a safe assumption that new construction costs an average of
300-425 Euros per m2


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KARDJALI DISTRICT AND CITY INFORMATIONKardjali
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FDI as Percent of GDP in Bulgaria
FDI as Percent of GDP in Bulgaria

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