Romania

Overall construction activity

In 2024, the estimated Gross Domestic Product for 2024 was at current prices -353 821,09 mln Euro, increasing - in real terms - by 1,09% compared to 2023.
The contribution of Constructions to GDP in 2024 decreased with 0.2%, with an 7,5% share in GDP formation and the volume of activity decreased by 2,4%.
In 2024 net investments in the national economy amounted to 38 955,86 mln Euro, a decrease of 4,9% compared to 2023. The evolution of net investments in national economy, by structural elements, is as follows: New construction worksdecreased by 5,9%, Machinery (including transportations means) decreased by 10,8% and Other expenditure increased by 20%.
Investments materialized in new construction works in 2024 amounted to 23 683,43 mln Euro, representing 60.8% of the total, compared to 60.3% in 2023.
The volume of construction works, as a gross series, by structural elements and by types of construction, in the year 2024 compared to 2023, decreased overall by 5.9%.
By structural elements, the volume of construction works decreased by 11.2% for maintenance and current repairs and by 5.3% for new construction works. Capital repair works increased by 1.8%.
By construction object, increases occurred in engineering construction (+2%) and decreases  occured in residential buildings (-22,1%) and non-residential buildings (-8%).

 

Housebuilding

In 2024, 35 667 building permits for residential buildings were issued, an increase of 2.9% compared to 2023. Total usable are buit in 2024 for residential is 8 781 279 sqm.
Increases were recorded in the following development regions: South-Muntenia (+441 permits), West (+375), Bucharest-Ilfov (+206), North-East (+99), South-East (+20), and North-West (+10). Decreases were recorded in the development regions of Center (-112 permits) and South-West Oltenia (-18).
In December 2024, 2 511 building permits for residential buildings were issued, down by 8.0% compared to November 2024 and by 1.5% compared to December 2023.
National Institute of Statistics data show that the volume of construction works for residential buildings decreased by 22.1% in 2024 compared to 2023.
In 2024, the volume of residential construction recorded the second consecutive year of decline and the largest annual decline since 2019.

The distribution of completed dwellings by sources of financing shows that, compared to 2023, in 2024 the number of dwellings built with private funds decreased by 10,796 units, while the number of dwellings built with public funds increased by 129 units.
The regional distribution in 2024 compared to 2023 highlights a decrease in the number of completed dwellings across all development regions: Bucharest–Ilfov (-4,069 dwellings), Center (-1,846), South–East (-1,809), North–East (-814), North–West (-711), South–West Oltenia (-665), South–Muntenia (-483), and West (-270).

 

 

Non-residential construction

For non- residential buildings, the usable area for which building permits were issued decreased to 3 516 447 sqm from 4 033 925 sqm in 2023 .