In February, construction permits for residential buildings fell 5.7% to 2,367 units compared with the same period a year earlier, due to the recent public tensions, which impacted the investment risk perception, according to Andrei Radulescu, Banca Transilvania senior economist.
“In the short term, we expect a positive evolution on the residential construction segment, on the backdrop of higher incomes, accessible financing costs and increased interest for First Home program,” Radulescu said.
At the same time, the data from the country’s statistics institute INS show that the annual job vacancy rate was at 1.28% in 2016, up by 0.16 percentage points compared with 2015 and the highest value since 2008.