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:
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.
From January 1st, citizens from Great Britain can no longer acquire land (including agricultural land and forests) in Bulgaria except by inheritance. The reason for the ban is that they have the status of third-country nationals for the European Union as a result of Brexit. The ban does not affect past cases, as well as the purchase of other real estate (apartments, houses, etc.).
The Municipality of Veliko Tarnovo will be replacing the water supply and sewage pipes on 20 of the old streets around the Samovodska Charshia and the main tourist routes. The project is divided into three stages and has a total value of 1.6 million leva. What is more, money has been provided for the restoration of the authentic stone pavements in the Varusha neighbourhood. Some of them have been laid more than a century ago.