The construction of non-residential buildings in Romania soared by 87.4% in November 2019, compared to the same month of the previous year, three times faster than the overall construction market (+24.1% year-on-year in the same month), according to the construction works index reported by the statistics office INS.

In the first 11 months of 2019 (January-November), the non-residential buildings segment also outperformed, with a 45.5% year-on-year growth rate versus 27.6% average annual growth rate for the entire construction sector.

The non-residential building segment includes commercial real estate such as shopping malls, office buildings, hotels, and industrial and logistics spaces.

The residential buildings segment rose by a robust rate of 28.5% year-on-year in January-November, despite the modest 6.8% growth in November alone. The volume of engineering works, including largely infrastructure projects, advanced by a slim 3.7% year-on-year in November, and by 17.5% in the whole January - November period.

The public investments in infrastructure projects could provide outstanding impetus to this segment, but so far the activity volume has stayed close to the past decade’s minimum.

editor@romania-insider.com

(Photo source: Pixabay.com)