SVN: Construction permits for residential buildings in Bucharest plummet by 45% over three years

The number of construction permits issued for residential buildings in Bucharest has significantly decreased, with the first nine months of 2024 showing a 45% drop compared to the same period of 2021, according to a recent market report by real estate consultant SVN Romania. In the first three quarters of 2024, only 272 construction permits were issued, marking a 4.2% decrease year-over-year and a sharp decline from 496 in 2021.

For further comparison, 366 permits were issued in the first nine months of 2022.