- Bosnia and Herzegovina
- All Balkan Countries
Building construction in Bulgaria is the cheapest in Europe, according to a comparative analysis conducted by construction consulting company EC Harris.
Expenses for construction in Bulgaria are anywhere between 38 per cent and 66 per cent lower than those in Southeastern UK, according to an analysis cited in the Bulgarian daily Trud (Labor) wrote on Saturday.
The study takes into account the price of construction material and labour expenses. Values in Bulgaria vary since buildings are divided into 44 categories, such as offices, stores, logistics facilities, hotels, residencies etc.
Globally, Bulgaria is also among the countries with the cheapest construction in the world.
From all 56 countries, subject to the study, only some African ones such as Ghana, Morocco, and Tunisia, and some Asian – China, Indonesia, Malaysia, the Philippines and Vietnam, have expenses lower than the ones in Bulgaria.
The top three by the lowest construction cost are Taiwan, India and Sri Lanka where one building can end up being 4 times cheaper than one in Southeastern UK.
Labour in the sector is the cheapest in Pakistan and India.
Construction is the most expensive in Switzerland.
Cost depends a lot on the prices of steel, copper, and oil.
Experts say the fact that Bulgaria is in the bottom in the Old Continent by construction cost does not have such importance for investors as qualified labor and good infrastructure.
Investments in shopping malls depend on the purchasing power of the population while for office buildings the most important factors are the overall state of the economy and the ratio between supply and demand.
Donors spent hundreds of thousands of euro building a new museum in Gjirokastra - but the results were questionable and it ultimately closed over an ideological dispute.