13.07.2008

Construction Prices in Bulgaria to Go Up by 15% in 2008


The Sofia Chamber of Commerce and Industry representatives participated on July 11 in a discussion about the new EU directive aimed at synchronizing conditions for construction products entering the market including responsibilities of manufacturers, importers, distributors, consultants, construction firms, and supervisory institutions.

The meeting has been organized by the Bulgarian Ministry of Regional Development and Public Works. The new EU directive is subject of ongoing discussions in all member states, and is expected to become effective in 2011.

At the meeting the Chair of the Sofia Chamber of Commerce and Industry Georgi Chernev made the prediction that construction prices in Bulgaria might increase by 10-15% by the end of the year.

Chernev listed the significant increase of concession prices for the extraction of construction materials compared to the beginning of 2007, as well as the global price hike of fuels as main factors to likely drive up construction prices in Bulgaria.

According to him, the prices of construction services in Bulgaria are still 30-40% lower than those in other Eastern European states, and are expected to gradually reach their levels.

Chervnev had also said that the new directive would remove many of the firms using unfair and illegal practices from the construction market in Bulgaria.


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