CONTRACTORS: Increase of 10% increase in the volume of construction works

According to the data published by Romanian Institute for Statistics (INS), the local construction market continued to register an upward trend in September 2015. The official information indicates that, compared to  the same period in 2014, the developments was about 4.4% (as gross series), and  4% as series adjusted by the number of working days and by seasonal factors. However, the growth trend has been moderated compared to the previous months (as sequential comparison), data released for September indicating an increase of 0.7% (as adjusted series), and one of 13.7% (as gross series) compared to the previous month. Overall, the volume of construction works in the first nine months of the current year increased with 9.9% (as gross series) and 10.5% (as adjusted series), reflecting an advance relative to all the structural elements, such as capital repair works (+ 17.5%), maintenance procedures of current repairs (+ 10.5%) and new construction works (+ 9%). Of course, the current situation is perceived different by the managers of the companies active on the segment of construction. There are opinions according to which the  residential sector brought a considerable activity on the Romanian construction market in 2015. The forecasts indicate that the trend will continue on short and medium term, this segment being considered to be one of the main engines of this field in 2016, due to an increased of sustainable demand, improving the credit conditions and price stabilization. Some analysis conducted by financial experts show that, this year, only in Bucharest and in its surroundings will be completed over 10,000 new housing, which will make 2015 the best period for the residential market. In addition, the segments of office and commercial registers, in turn, significant increases in activity (such as rent and developments) in the context of improving macroeconomic outlook. This positive situation is also confirmed by the strategies implemented by the most important contractors and developers, who decided to further invest on local market.