Construction of non-residential buildings in Romania soar by 87% in November

The construction of non-residential buildings in Romania soared by 87.4% in November 2019, compared to the same month of the previous year, three times faster than the overall construction market (+24.1% year-on-year in the same month), according to the construction works index reported by the statistics office INS.

In the first 11 months of 2019 (January-November), the non-residential buildings segment also outperformed, with a 45.5% year-on-year growth rate versus 27.6% average annual growth rate for the entire construction sector.

The non-residential building segment includes commercial real estate such as shopping malls, office buildings, hotels, and industrial and logistics spaces.

The residential buildings segment rose by a robust rate of 28.5% year-on-year in January-November, despite the modest 6.8% growth in November alone. The volume of engineering works, including largely infrastructure projects, advanced by a slim 3.7% year-on-year in November, and by 17.5% in the whole January - November period.

The public investments in infrastructure projects could provide outstanding impetus to this segment, but so far the activity volume has stayed close to the past decade’s minimum.

(Photo source: Pixabay.com)