Number of residential projects started in Romania by individuals drops by 26% y/y in H1

The number of house constructions started by individuals decreased by 26% in the first half of 2023 compared to the first six months of 2022, according to IBC Focus quoted by Economica.net.

The data included in the study published on July 10 show that the downward trend is general at the level of the entire residential sector: over 8,811 residential projects are in different stages of work after the first half of the year nationwide, compared to 10,000 such projects in the same period of 2022.

Region-wise, Timis County leads in the ranking of the residential sector – with 1,459 projects, followed by the Bucharest-Ilfov region (approximately 1,130 projects) and Cluj County (977 projects). Even if they work with a general contractor, Romanians who start building a house have to make hundreds of decisions regarding the materials chosen.

"Most beneficiaries first get informed about the necessary construction materials online and only then go to speciality stores. Surprisingly, only 1 in 5 turns to architects and builders as their first source of information," the IBC Focus research reveals.

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