Number of authorizations for residential buildings in Romania down by 5.7 pct in February

The number of authorizations for residential buildings went down by 5.7 percent in February, to 2,367, especially due to the drop in demand in Bucharest and Banat areas, after an increase by 9 percent in January, according to the data of the National Institute of Statistics (INS).

Out of the total authorizations from February, 69.2 percent were in the rural area. The biggest increase was in Moldova area and the biggest drop in Bucharest- Ilfov.

„The increases were registered in the development areas: North-East (86 authorizations), Center (54 percent), North-West (20 percent) and South-East (6 percent),” according to INS.

In the first two months of this year, authorities issued 3,928 constructions authorizations for residential buildings, a drop by 0.3 percent compared with the same period of 2016. The number of the authorizations for residential buildings dropped by 1.2 percent in 2016 compared with 2015 to 38,653, mainly due to the decrease in demand in Bucharest, Moldova and Muntenia region.

In the 2009-2014 period, the number of authorizations for buildings dropped by 38 percent, according to the official statistics, due to the reduction in demand for apartments.