Bulgaria’s Construction Output Records Modest Growth in December

Overall construction activity trends

Bulgaria’s construction output increased by 0.6% year-on-year in December 2025, according to preliminary data released by the National Statistical Institute. The figure marks a slowdown compared with November, when annual growth was revised upward to 3.0%, highlighting a more cautious end to the year for the sector.

Civil engineering and buildings drive growth

Civil engineering was the main contributor to annual growth in December, with output rising by 3.5% year-on-year. Construction of buildings also recorded solid expansion, increasing by 2.6% compared with the same month of the previous year. These gains offset a decline in specialised construction activities, which contracted by 3.9% on an annual basis.

Month-on-month contraction emerges

On a seasonally adjusted monthly basis, total construction output declined by 2.3% in December, following a 0.8% increase in November. The monthly decrease was particularly pronounced in civil engineering and specialised construction activities, pointing to weaker short-term momentum despite positive annual figures.

Comparison with previous months

Revised data for November indicate stronger performance earlier in the quarter, with civil engineering output rising by 8.0% year-on-year and total construction production increasing by 3.0%. The December figures suggest that growth moderated toward the end of the year, partly reflecting seasonal effects and broader economic conditions.

Implications for real estate and infrastructure

The construction sector remains a key indicator for Bulgaria’s real estate market and infrastructure investment cycle. Continued annual growth in civil engineering suggests ongoing infrastructure development, while the decline in specialised activities underscores uneven recovery across different construction segments.

As experts at International Investment report, Bulgaria’s construction sector appears to be entering a stabilisation phase, with future performance likely to depend on investment flows, financing conditions and the pace of public infrastructure projects.