This year there is about 14% growth in construction in Veliko Tarnovo and the region. It is close to the national average, which according to statistics is about 17% compared to 2020. The main part is housing, while the municipalities focus mainly on the construction of new infrastructure projects.
About 6,000 people are employed in the field of construction in Veliko Tarnovo district. Companies from other districts of the country are also coming to the region, and their number is increasing. Some of them fall into the gray sector and cannot be reported by the Chamber, as construction up to 100 square meters does not require registration with the construction organization.
From last year all commercial users had to register on the free electrical market. This change affected not only different manufacturers, producers, etc. but also companies that have no activity, including companies which have been formed to hold property ownership.
There are two rates for electricity – commercial and residential. The price of commercial electricity varies and is much higher than that of residential electricity. For all company-owned property, Energo Pro would automatically assign the commercial rate. However, there is a way to pay the residential rate:
The world leader in the retail sale of clothing and household goods, with more than 3,900 stores in 12 countries, is gradually opening two stores in the old capital Veliko Tarnovo. The first of the two KiK stores is currently being built in the Trade Park on Magistralna Street in the old capital.
Despite the pandemic, property prices in the Veliko Tarnovo area are rising. Contrary to initial expectations, the real estate market was not severely affected during the pandemic year.
Economic opportunities and a better quality of life are the priorities in the 2021 budget, which is the record 112.8 million leva. The 2021 budget of Veliko Tarnovo focuses on the recovery after COVID-19, a better quality of life, investments in infrastructure and ecology. Education and culture are also amongst the top priorities.