Bulgaria Infrastructure Q1 2019
Following a 1.10% contraction in real growth over 2017 the Bulgarian construction industry is expected to grow 3.4% in2018. Infrastructure construction will be the largest growth market in the country's construction industry, expanding 4.8% in 2018and accounting for 61% of total construction. The infrastructure market will be backed by government plans to improve thecountry's transport infrastructure through an influx of EU funds.The tourism sector will remain a substantial growth driver, whilelimited demand in non-residential building will provide a drag. The demand for housing units has declined over the last few yearsowing to the weak economy and tight credit conditions; however, the residential construction market is on a path of recovery alongwith general improvement of the economy, evidenced by the increase in building permits and residential property prices.
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