In Bulgaria - building fewer, but larger homes

The main minus during the construction of the property boom was that they were small. The reason is clear – then the apartments were bought with loans very fast and the developers competed to build and sell.

For the customers then, it was important to have their own home on the best possible (i.e. lowest price). Most of them knew that compromise while acquiring small apartment with a bad disposition, but anyway concluded a deal. At 180 degrees, however, the picture changes after the prices went down. Many of the new properties were left empty, the clients fewer, and prices were falling.
In the last two years, buyers are looking over new construction apartments, but bigger and with good distribution.

It turned out that such properties almost absent on the market. Builders began to lean towards the construction of smaller buildings, but with floors with far better distribution.

Proof of this are the data of the National Statistical Institute (NSI) for the first quarter of 2014. Comparing it with the last quarter of the last year has seen a decline in licenses issued for construction of residential buildings and apartments in them. There is a growth of 4.8% of the built-up area in them.

For the period January-March 2014 were issued permits for the construction of 1015 residential buildings with a total of 3395 residential units. This is a 1.6% less buildings, with 7.2 percent fewer apartments, calculated from NSI.

What is the pace of the construction of other buildings? The number of administrative buildings has increased by 22.2%, but their built-up area decreased by 42.8% during the period considered. The number of authorizations for the construction of other buildings decreased by 17.8% and unfolded built area with their 21.3%, indicate the data of NSI.