Romania

Overall construction activity

In 2023, the estimated Gross Domestic Product for 2023 was at current prices -323 173,25mln Euro, increasing - in real terms - by 2.1% compared to 2022.

The contribution of Constructions to GDP growth in 2023 increased with 0.8%, with an 8.1% share in GDP formation and the volume of activity increased by 11.0%.

In 2023 net investments in the national economy amounted to 38 278,80 mln Euro, an increase of 16.6% compared to 2022. The increases were recorded in all structural elements: New construction works by 16.8%, Machinery (including transportations means)  by 20.6% and Other expenditure by 4%.

In Q4 2023 net investments in the national economy amounted to 14 513,86 mln Euro, an increase of 22.1% compared to Q4 2022. 

In December 2023 compared with December 2022, the volume of construction work increased by 27.3% in gross terms and by 25.5% in working day adjusted and seasonally adjusted terms. 

In 2023 compared with 2022, the total volume of production in construction increased by 14.2% in gross terms. 

By type of construction, increases occurred in capital repairs (+19.7%), new buildings (+16.5%) and current maintenance and repairs (+6.0%). 

By type of construction, increases were recorded for civil engineering (+33.2%) and non-residential buildings (+2.3%). Residential building fell by 6.6%. 

The working day adjusted and seasonally adjusted volume of construction rose by 13.8%, with increases in capital repairs (+21.5%), new buildings (+15.8%) and maintenance and current repairs (+6.6%). Among the types of construction, increases were recorded for civil engineering (+32.7%) and non-residential buildings (+2.3%). Residential buildings fell by 5.9%. 

In 2023, net investments in the national economy amounted to 189 346.1 million lei, up 16.6% compared to 2022. The evolution of net investments in the national economy, by structural elements, compared to the year 2022,

Housebuilding

In 2023, 34 646 residential building permits were issued, 20.6% fewer than in 2022.

Declines were recorded in all development regions: Bucharest-Ilfov (-1 648 permits), South-Muntenia (-1 575), North-West (-1 499), West (-1 062), South-East (-1 018), North-East (-1 014), South-West Oltenia (-746) and Centre (-452).

In December 2023, 2 550 residential building permits were issued (-5.6% compared to November 2023), with a total useful area of 786 693 sq m (+24.3%). Of the total number of residential building permits, 69.3% are for rural areas. In December 2023 there is a decrease in the number of building permits issued for residential buildings compared to the previous month (-150 permits). 

In 2023, 71 454 dwellings were completed, 1 878 fewer than in 2022. The situation by place of residence in 2023 compared to 2022 shows a decrease in the share of completed dwellings in rural areas (from 45.3% in 2022 to 39.0% in 2023) and an increase in urban areas (from 54.7% in 2022 to 61.0% in 2023). 

The breakdown of completed dwellings by funding source shows that in 2023, compared to 2022, the number of dwellings completed with private funding decreased (-2 466 dwellings), while the number of dwellings completed with public funding increased (+588 dwellings).

The regional distribution in 2023 compared with 2022 shows a decrease in the number of dwellings completed in the following development regions North-West (-1 357 dwellings), West (-945), Bucharest-Ilfov (-280), Centre (-159) and South-Muntenia (-158). Growth was recorded in the following development regions South-East (+761 dwellings), North-East (+246) and South-West Oltenia (+14).

In 2023, 34 646 building permits were issued for residential buildings, of which 93.7% were for dwellings. Most of the building permits for single-family houses were issued in rural areas, i.e. 23 030 permits, while the remaining 9 445 permits were issued in urban areas. There were 32 building permits issued for collective dwellings.

Non-residential construction

For non-residential buildings, a total of 6 448 building permits were issued and the useful area for which building permits were issued increased to 4 033 925 m2 from 3 785 101 m2 in 2022.

Compared to December 2022, in December 2023 there was a decrease in the number of building permits issued for non-residential buildings (-17.7%) and an increase in the total useful area (+11.6%).