Higher Growth Pace in Construction Sector in Romania than any other EU Country

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In 2006, dynamics in the constructions field in Romania was superior to the one in other European Union states, according to Eurostat, EU Statistics Bureau, ACT Media news agency reports

Romania's weight in constructions field is similar with the one in Hungary or Luxembourg, in Q1 of this year, accounting for 0.3 percent of the overall works carried out at EU level, reveals EU Statistics Bureau.

In the past years, the most dynamic sector of the Romanian economy was represented by construction works, that rose with more than 19.0 percent in 2006, compared to 2005. More than 38,000 housing units were finalized, some 5,300 more than in 2005, in their majority (almost 90 percent) constructed from wholly private funds. Some 1,900 housing units were destined to families evacuated following the floods in 2005 and 2006.

The accentuated growth trend in constructions is set to be maintained in the following years, as well, according to National Statistics Institute's estimations.

Last year, 16,815 companies were registered in Romania having as main activity object constructions. In the past years, an ever-increasing number of entrepreneurs decided to enter this sector, in order to benefit of the big demand in real estate field. On the other hand, foreign investments in real estate field in Romania (office, commercial and residential complexes) influenced the growth pace on profile market.

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