This year’s delivery volume is expected to fall amid the significant decline in the number of construction permits.
“While several medium-sized and large housing projects are currently under construction, 2024 will bring one of the lowest numbers of housing units completed in projects with over 500 units,” said Andrei Sarbu, SVN Romania CEO.
“The situation is not set to significantly improve next year, either, given, on the one hand, the projects due to be started this year and, on the other one, the 37% lower number of permits issued in 2023 vs 2021 in Bucharest”.
The number of permits for residential buildings in Bucharest in 2023 was 18.7% lower than in 2022 and 37.5% lower than in 2021.
(English version by Catalina Apostoiu)