Authorizations for residential buildings constructions up by 17.1 pct in May

The number of authorizations for residential buildings constructions went up by 17.1 percent in May compared with May 2016 up to 4,342, after a strong decline in April. The increase in authorizations was due to the increase in property demand in all big regions of Romania, according to the data published by the National Institute of Statistics (INS).

In April, the number of authorization decreased by 11 percent compared with April 2016, according to News.ro. In the first five months of the year the number of constructions authorization for houses increased by 2.5 percent compared with the same period of 2016 up to 15,086. Out of the authorizations issued in May, 65.8 percent were in rural areas.

„In May 2017 compared with May 2016, there was an increase in the number of authorizations of constructions issued for residential buildings in most of the development regions. The most significant increases were registered in North-East (205 authorizations), South-Muntenia (136 authorizations) and North-West (118).There was a decrease registered in the development area Bucharest- Ilfov, a drop by 50 authorizations,” according to the INS.

In 2016, the number of authorizations for residential buildings dropped by 1.2 percent compared with 2015, up to 38,653, generated especially due to the demand reduction in Bucharest, Moldova and Muntenia. In 2015, the authorities issued 39,112 construction authorizations for residential buildings.