The architecture market rebounded in 2014-2016, after having dropped about 10% in 2013 to less than RON1 billion. Once the real estate market recovered after the financial crisis, the architects started seeing their business up in 2014, as architecture goes hand in hand with construction.
“We believe the architecture and design market grew in 2017. As far as we are concerned, the building investment market has gone up in the past couple of years. We’ve noticed growth in volume and scope and diversity of the programs requested,” says Eliza Yokina, managing partner of Cumulus architecture firm.
The company was created by the merger of three different architecture firms – PZP, SYAA and Arxtudio last year. The year 2017 was the first in business for Cumulus, a year when it posted EUR1 million revenue, an increase of 20%.
Construction works declined 5.4% in 2017, due to the unprecedented drop in government investment in infrastructure. The only sector to see a rise in demand was residential construction, which grew by 75%.
(English version by Loredana Fratila-Cristescu)