Number of residential construction permits in Romania increases by 3.3% y/y in Jan-Sep

The number of construction permits for residential buildings in Romania increased by 13.2% y/y in September, pushing up the annual advance to +3.3% y/y for the entire January-September period, according to the statistics office INS.

The annual advance for the first nine months of the year was 3.4%, slightly larger than the average, for Bucharest.

However, the surface of residential buildings with a construction permit issued in January-September decreased by 11.0% y/y country-wide despite the 2.8% y/y advance in September.

For Bucharest, the situation is slightly more encouraging: the area with a construction permit issued in the first nine months of 2024 surged by 153.5% y/y (+58.6% y/y), invalidating real estate developers’ concerns about the deadlock generated by the blocking of urban development plans by mayor Nicusor Dan.

(Photo source: Dreamstime.com)