Construction Prices in Bulgaria to Grow 10-15% by End of 2008

13.07.2008

The Chair of the Sofia Chamber of Commerce and Industry Georgi Chernev predicted Friday that the prices of construction services in Bulgaria might grow by 10-15% by the end of the year.

As the main factors that would likely drive up the prices, Chernev pointed to the significant growth of the concession prices for the extraction of construction materials since the beginning of 2007, as well as the rise of petrol prices on the world market.

In his words, the prices of construction services in Bulgaria were 30-40% lower than those in other Eastern European states, and were gradually expected to reach their levels.

Representatives of the Sofia Chamber of Commerce and Industry took part Friday in the discussion of a new EU directive that will harmonize the conditions for construction products entering the market including the obligations of producers, importers, distributors, consultants, construction firms, and supervisory institutions.

The meeting was organized by the Bulgarian Ministry of Regional Development and Public Works. The new EU regulation is currently being discussed in all member states, and is expected to enter into force in 2011.

Chervnev pointed out that the new directive would remove from the construction market many of the firms using unfair and illegal practices.

Source : novinite.com