Romania’s construction market up 6.5% YoY in Q1, ahead of complicated year
The volume of construction works in Romania increased by 6.5% in the first quarter of the year, compared to the same period of 2021, after the market posted less impressive performances in the second half of last year, according to data published by the statistics office INS.
The first quarter of the year does not reflect yet the multiple threats posed by the rising cost of the construction materials, the expected rise of the interest rates and the more cautious buyers. On the upside, both the households and investors faced with high inflation expected to persist for at least another year may see the real estate assets as a safer option for placing their savings and resources - which would keep the sector active for the coming period.
In Q1, the seasonally-adjusted construction works index advanced by 9.5% compared to the last quarter of 2021 (qoq), boasting the strongest quarterly growth since the outbreak of the pandemic. Both segments of residential and non-residential buildings posted robust annual growth rates in excess of 18% yoy - while the volume of civil engineering works, reflecting the dynamics of the state-financed infrastructure projects, contracted by 6.5% yoy.
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