Romania's construction market had a positive evolution in 2018 and will continue the same upward trend in 2019, according to a forecast by Austrian brickmaker Wienerberg, released on April 11.
The number of dwellings completed in 2018 was 12% higher than in 2017, which had a positive impact on the general development of the building materials market. In the masonry segment, the market recorded an increase of 5.6% in 2018 compared to 2017, reaching a level of over 6 million cubic meters, similar to the level reached in 2008 before the economic crisis pushed down the constructions market.
In the first quarter of 2019, the positive trend recorded last year for residential construction continued, as outlined by both the number of construction permits, which increased compared to 2018, and the start of construction work for many new projects.
Market growth is almost entirely driven by the number of newly built apartment buildings since the number of individual dwellings completed annually in Romania has remained relatively constant over the last eight years, according to the same source.
“We estimate that the construction market will be on a positive trend in 2019. Under these conditions, Wienerberger Romania looks forward with confidence in the evolution of the market in 2019,” commented Corneliu Fecioru, Managing Director Sales & Marketing.
Wienerberger Brick Systems owns four local production units in Gura Ocniţei - Dâmboviţa, Sibiu, Lower Tritenii - Cluj, and Berca - Buzău.
(Photo source: the company)
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