The number of new housing units completed in Romania in the first quarter of the year (Q1) reached 12,714 units, 17.3% more than in the same period last year.
The new housing units delivered in Bucharest and neighboring Ilfov county surged by 76%, to 3,894 units, and accounted for more than a quarter of the total up from 17.4% in Q1 2019.
Growth rates of over 30% were also reported in Romania's Center and South-East regions, where 18% and respectively 11.2% of the new units were delivered.
The Center region includes the counties in central Transylvania, namely Brasov, Sibiu, Alba, Mures, Harghita, and Covasna.
The South-East region consists of the Black Sea coast and the Danube Delta. Meanwhile, the less affluent north-eastern counties recorded a sharp 30% contraction in new house deliveries.
North-East is the poorest region in Romania and among the last in the EU by GDP per capita.
The volume of net investments in Romania’s economy increased by 5%, in real terms, in the first quarter of the year (Q1)...