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In a bear real estate market one of the first areas of stagnation is construction. Plans for costly new building projects are put on hold while analysts assess the state of the housing market so as to avoid over supply, such as that seen in Spain. So the recent figures from the National Statistics Institute which reveal a significant rise in the Bulgarian construction sector in the second quarter of 2010 could bode well for real estate in Bulgaria as a whole, reports House Sales Bulgaria (http://www.housesalesbulgaria.com/).

The data from the National Statistics Institute reported a rise of 46% in granted construction permits in Bulgaria in Q2 of 2010 when compared to the previous three months, but actual construction of Bulgarian property in the country for the same period soared by around 70%. According to the data, the areas of Bulgaria which saw the most construction of new property in Bulgaria in that period were Sofia, Varna, Bourgas and Plovdiv. Leading Bulgarian newspaper the Sofia Echo reports that "in total, 1441 real estate buildings were authorised for construction in the second quarter, with 3933 units in total, encompassing about 509 000 sq m in area, or a 46 per cent rise in quarterly terms."

A faltering construction sector is seen as a sure sign that a country's real estate market is in stagnation if not decline. Any housing market relies on new construction as well as the resale market and the Bulgaria property market is no exception. The fact that construction in some of Bulgaria's main cities is increasing in what is still a difficult climate for much of the global housing market will be welcome news to many.

To find out further information on the Bulgarian real estate market and to view the latest property listings go to http://www.housesalesbulgaria.com/.