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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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BLAGOEVGRAD DISTRICT AND CITY INFORMATIONBlagoevgrad
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Gross Domestic Product of Bulgaria per Capita
Gross Domestic Product of Bulgaria per Capita

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Did You Know?
Rents in Sofia
Rents in Sofia
Rent for a 3 BR apartment in Sofia is about 250 Euros ... More

The biggest city at the Bulgarian Black Sea coast, Varna is situated 470 km east of Sofia. In the course of more than 7 millennia, the Gulf of Varna has been the cradle of several significant civilizations - humankind's oldest gold was excavated in Varna, created by people who inhabited that place around the 4th millennium BC and long before the Thracians, Greeks, Bulgarians and Turks.

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