2014-01-05 00:33:40 - Fast Market Research recommends "Construction in Bulgaria - Key Trends and Opportunities to 2017" from Timetric, now available
The Bulgarian construction industry registered a CAGR of -14.20% during the review-period (2008-2012). In 2009, economic contraction led to decline in the inflow of foreign capital to the construction industry. The limitations imposed on mortgage lending, coupled with a weaker economic climate caused inactivity and a reduction in output. The industry is expected to record a forecast-period (2012-2017) CAGR of 2.21%. Over the forecast-period, demand is anticipated to increase in due to the modernization of the rail program, expansion of the road network, rising urbanization and government investment in infrastructure projects.
* Bulgaria registered real GDP growth of 0.7% in the third quarter of 2013, according to the National Statistical Institute. This growth follows the trend in the preceding
quarters of positive growth. Bulgarian real GDP is expected to post a growth rate in the range of 0.4-0.7% in 2013 due to low private consumption due to high unemployment in the economy. Bulgaria's GDP growth is predicted to improve to an annual 3.0% over 2014-2017 supported by gradual improvement in domestic demand and an anticipated recovery in the eurozone that will bolster Bulgaria's exports.
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* According to UN population statistics, the population fell by 0.6% to reach 7.39 million in 2012 (7.44 million in 2011). Bulgaria's population declined at an average annual rate of 0.78% between 1993 and 2012 due to a high death rate (on an average 14.16 per 1,000 births during 1993-2012). The shares of females and males to the total population stood at 51.7% and 48.3% respectively in 2012. Going by UN projections, the population is expected to continue its declining trend and reach 6.7 million by 2025.
* According to the Bulgarian National Statistical Institute (NSI), the number of new start up buildings was 2,935 in the third quarter of 2012 while in the third quarter of 2013 was 3,156 which represents the increase of 7.5%. The government passed 3,817 permits for new residential buildings construction and 56 permits for new administrative buildings in the third quarter of 2013 which will support demand in the construction industry over the forecast period.
* Bulgaria imports 70% of its energy from other countries. In order to reduce reliance on imported energy; the government is focusing more on developing renewable energy sources, which will also boost the construction industry and economy of the country. The EU's 20-20-20 strategy, which involves achieving a 20% saving in final energy consumption, a 20% improvement in energy efficiency and a 20% saving in carbon emissions, will increase the demand for renewable energy infrastructure.
* In a bid to revive the housing market, the government has cut interest rates on mortgage loans. According to the Bulgarian Association of Banks, the average BGN-dominated mortgage interest rate in the country declined from 8.23% in 2011 to 7.12% in November 2012, whereas the EUR-dominated mortgage interest rate decreased from 7.85% to 7.40% during the same period. Low interest rates are expected to support growth in residential property demand in Bulgaria. Due to urbanization and an improving economy, demand for residential construction will support the market.
This report provides a comprehensive analysis of the construction industry in Bulgaria:
* Historical (2008-2012) and forecast (2013-2017) valuations of the construction industry in Bulgaria using the construction output and value-add methods
* Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
* Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
* Analysis of key construction industry issues, including regulation, cost management, funding and pricing
* Assessment of the competitive environment using Porter's Five Forces analysis
* Detailed profiles of the leading construction companies in Bulgaria
Reasons to Get this Report
* Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
* Assess market growth potential at a micro-level via 600+ time series data forecasts
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* Formulate & validate business strategies by leveraging our critical and actionable insight
* Assess business risks, including cost, regulatory and competitive pressures
* Evaluate competitive risk and success factors
Companies Mentioned in this Report: Holding Patishta AD Sofia, Glavbolgarstroy Holdings AD, Geotechmin Group, Zlatni Pyasatsi AD Varna, FairPlay Residential Properties AD Sofia
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
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