Bulgaria Posts 63% Rise in Number of Dwellings in New Buildings Completed in Q1

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The number of new residential buildings completed in Bulgaria in the first quarter of 2016 was little changed on an annual basis, while the number of dwellings in them has jumped by more than 60%, official statistics showed on Wednesday.

Acording to preliminary data, a total of 543 new residential buildings were completed in the first quarter of 2016, an increase of 1.1% over the same period last year, the National Statistical Institute said in a quarterly survey on Wednesday.

The number of dwellings in completed new buildings, however, has increased by 62.9% on the year in the period January-March 2016, reaching 2,291.

Houses accounted for 71% of new residential buildings completed in the first quarter of 2016, followed by blocks of flats with 17%. As compared to the first quarter of 2015 an increase of the number of newly built blocks of flats was observed, the NSI said.

Burgas, Varna and Plovdiv led the list of Bulgarian regions with the largest number of new residential buildings completed in the first quarter of the year.

Newly built dwellings completed in the first quarter of 2016 had total useful space of 192,400 square meters (sq.m.), an annual increase of 45.4%. The living floor space increased by 44.6%, reaching 122,300 sq. m.

Two-room dwellings had the highest share among new residential buildings completed in the first quarter (37.3%), followed by three-room dwellings (29.3%)