Construction in Bulgaria 2000-2010

Bulgarian building to grow 8 percent in 2000.

Bulgarian construction is to grow by 7.5 percent during 1999 and then 8 percent during 2000, according to a new report from European Construction Research. These gains follow a dry spell during 1996-1998 caused by an unstable economy and slow reform in the legal system.

The sharp rise in construction will continue until 2004 and is largely the result of gains in renovation, infrastructure, the retail sector, and offices.

The industrial sector will be the growth engine of Bulgarian construction during the 2002-2003 period, thanks to a wave of heavy investment in industry expected after 2000.

With the exception of 1996, residential construction has been on the decline since 1989, but activity will be leaping by 23 percent during 1999 and then over 10 percent in 2000. These developments are largely being fueled by the country's Nouveaux riches, but demand for new homes is also coming from the growing middle class.

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