Romania Construction Market Report

SeeNews - Research & Profiles
July 2, 2009
28 Pages - SKU: ALD2430841
License type:
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Countries covered: Romania

After boosting growth rates of 9.3% and 9.2% in the second and the third quarters of 2008, respectively, the Romanian gross domestic product (GDP) was chilled by the global crisis to 2.9% in the fourth quarter of 2008. Romania's economy grew by 7.1% in 2008.

UK specialised magazine Building forecast stable growth of construction in 2009 due to government spending on infrastructure projects. The residential segment is expected to mark a decline as percentage of the overall volume of construction works. The magazine identifies bright perspectives for the infrastructure segment in case Romania gets additional funding by the EU.

The thriving in the recent years Romanian real estate market, mainly propelled by foreign investment, strong demand and high yields, took in the opposite direction in the beginning of 2009 under the combined effect of the global crisis and the Romanian central bank's restrictive lending rules.

Business consultancy KPMG, quoted by UK specialised magazine Building, forecasts Romania to spend some EUR 578 mln on transport infrastructure in 2008. Investment in the segment is to grow further to EUR 760 mln in 2012, propelled by the country's robust economic growth.

The Romanian construction market was projected to expand by 12% in 2008 and reach EUR 10 bln in 2010, according to UK specialized magazine Building.


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