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Bulgaria construction market: Resilient economy aids construction industry
Construction Sector in Bulgaria 2013 - a new market research report on 2014-03-05 16:11:01
The medium-term outlook for the Bulgaria construction market is quite optimistic and one of the best in the region. Despite the risks associated with the relatively strong links between the Greek and Bulgarian economies, in particular in the financial sphere, the Bulgarian economy remained quite resilient in 2012. As a result, the risk of recession is low and GDP growth should accelerate in 2013.The construction sector is expected to grow more rapidly in the coming years, driven not only by the expected further increase EU-financed public projects, but also by a revival of investment activity in the private sector. Currently, building construction is more than 60% lower than in 2008 and even lower than in 2005. It means that in the coming years construction sector output should go up by more than an estimated 1% annual increase in 2012.Bulgaria´s construction market prospects are becoming increasingly positive as the stabilisation phase, after the global economic crisis, appears to be ending, most probably already in 2013. Although small growth is expected for 2013-2015, the overall prospects for the development of Bulgaria´s construction market are positive, as potential is still very high.In terms of the specific sectors, civil engineering will lead the way in construction market improvements. With the increased EU funds available through Operational Programmes, civil engineering´s revival has had a very positive effect on the construction market. A number of projects have progressed significantly in road and railway infrastructure as well as a number of environmental protection-related construction projects.The residential construction market is still in a far worse condition compared to non-residential building and civil engineering. Yet, it too showed signs of achieving market equilibrium during 2012, with the first price growth on the residential real estate market noted after more than five years of continuous fall. The situation on the non-residential construction market has improved slightly in 2012, compared to 2011, mostly in construction of industrial buildings and the revival of the retail space construction, mostly shopping malls.However, residential construction is still far from achieving growth, but it seems on the road to recovery and stability in the segment is expected as soon as 2013, with a chance for small growth in 2014 and in 2015, due to increased demand for high quality residential dwellings in attractive locations. Access to mortgage loans and still high interest rates are among the key factors driving the development of new residential projects, which are now mostly small size high quality buildings, rather than the previously popular large multi-family residential complexes.Report ScopeAre commercial developers planning to invest in new office, service and retail spaces? What projects are planned for the public infrastructure segment of the market? Which companies are leading the way in terms of participation in the most significant upcoming investments? What is the outlook for manufacturers of building materials intended for use in Bulgaria? Contractors and materials producers who are interested in a comprehensive view of the current activities and future prospects of this market will find that Construction sector in Bulgaria 2013, Development forecasts for 2013-2015 meets their needs and much more. This publication provides data, analysis, competitive perspective and reliable forecasts for the residential, non-residential and civil engineering segments of the market, offering explanations of each unique characteristic - from the upcoming infrastructure projects of civil engineering to commercial and industrial plans for the non-residential segment.This publication has been restructured to conform to additional documents on construction markets in neighboring countries, making comparative analysis quick and simple. It provides deep analysis of trends influencing the current Bulgarian construction market and poised to affect development in the future, taking into account the country´s economic status and newsworthy events that are relevant to the construction industry.This document provides an excellent analysis of the competitive environment of the construction market in Bulgaria that includes comprehensive information on the country´s leading companies, the projects they have recently completed and plan to take part in and their strategies moving forward. It contains updates on merger and acquisition activity and commentary from experts with years of experience in observing and analysing this particular market, plus an index of the 100 leading contractors active in Bulgaria and an Excel database of 100 of the most promising projects still in the planning stages.Precise and accurate forecasts for the period 2013-2015 are enhanced by analytical coverage of the regulatory actions, plans for governmental development programmes and financial and investment developments that will influence new projects and the direction of market expansion. Readers will discover which of the market´s main segments is expand to experience the greatest degree of growth, how prices have evolved in recent months and which building materials producers have gained the strongest positions within the marketplace. They will learn the details of plans for infrastructure expansion and the common methods of financing transport infrastructure construction in Bulgaria, and discover the projected total of newly constructed housing units expected to be ready for market by 2015.This report provides informational support for construction industry professionals and specialists in finance, design and project management, consulting, research, and industry analysis in performing a wide variety of tasks, from market assessment to M&A activity to new business development and report preparation - quickly and accurately.

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