Against the previous year, the increase stands at 2%.

Bucharest, though, witnessed the second consecutive year of decline, amid problems related to PUZ (urban zoning plan) blocking, doubled by more expensive building materials and the halting of some projects due to economic uncertainty.

The Bucharest-Ilfov region also posted a decline of 3%, to 21,328 housing units, from growth in 2021.

For 2023, real estate consultants expect 19,000 housing units and apartments to be delivered in Bucharest and neighboring areas, still down from last year.

For several months, developers and building materials producers say the housing market is stalling or even shrinking amid the high inflation, interest rates and economic unpredictability.

(English version by Catalina Apostoiu)