STATUS, PROBLEMS AND PROJECTS FOR DEVELOPMENT OF DISTRICT, URBAN PLANNING AND ARCHITECTURE IN BULGARIA IN EARLY 21ST CENTURY (AGAINST THE BACKGROUND OF THE MARKET ECONOMY AND THE UPCOMING FINANCIAL AND ECONOMIC CRISIS) PART 2
Pages 8 - 22
Part 2 of the article has a brief overview of the real estate market in Bulgaria and projections
concerning future investments into urban development projects. The author considers design and
development of business centres, business parks, multi-purpose centres, high-rise buildings and
residential housing. In 2000 - late 2008, the pace of construction was very fast, and it caused
negative compromises in the construction industry. Due to the hotel boom, the Black Sea coast now
accommodates numerous high-density hotel buildings. At the same time, residential housing build
in the early 20th century needs urgent restructuring. The construction sector experiences enormous
pressure, as major projects initiated in 2007 and 2008 are now suspended as a consequence of the
fi nancial crisis. The author believes that recovery actions shall include tax holidays for purchasers of
fl ats, extended loan reimbursement periods, and reduction of state and municipal tax rates payable
by construction companies.
DOI: 10.22227/1997-0935.2012.11.8 - 22
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