The number of residential construction permits in Romania decreased by 23.9% y/y in January-August to 23,311, according to the statistics office INS.

In August, the situation was not much different, and 3,115 permits were issued – 23% fewer compared to the same month last year.

The figures anticipate a more pronounced decline in the residential construction market (amid high interest rates and economic uncertainty) after the segment contracted by 6.4% y/y in January-July this year, following rapid expansion in 2020-2022.

The non-residential construction segment is doing comparatively better. The permits issued in the first eight months of the year for the construction of non-residential buildings cover a surface of 2.54 million square metres – 5.4% more compared to the same period last year.

iulian@romania-insider.com

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