ESTONIA
GDP 2022
POPULATION 2024
Total investment in construction in 2022
Overall construction activity
In 2022, Romania’s GDP amounted to 286.427,00mln Euro — increased with 18.72% compared with 2021’s value of 241.251,87 mln Euro.
In 2022, the net investments in the national economy amounted to 30.436,74 mln EUR, registering an increase of 8.5%, compared to 2021. The increases were recorded in all structural elements: New construction works by 8.2%, Machinery (including transportations means) and Other expenses with 7.8% each.
In the fourth quarter of 2022, the net investments made in the national economy amounted to 10.983,74 mln EUR, more with 17.2% compared to Q4 2021.
The volume of construction works increased in december 2022 compared with december 2021, as a gross series, by 15.1%, an increase highlighted in capital repair works (+34.7%), current maintenance and repair works (+29.6%) and new construction works (+7.0%).
On construction objects, there were increases in non-residential buildings (+19.8%), engineering construction works (+19.2%) and in residential buildings (+1.0%).
The volume of construction works increased in december 2022 compared with december 2021 and as a series adjusted according to the number of working days and seasonality, by 10.8%.
In 2022 compared to 2021, the volume of construction works, as a gross series, increased, in total, by 12.9%. By structural elements, increases occurred in capital repair works (+25.7%), maintenance and current repair works (+20.2%) and in new construction works (+8.9%). On construction objects, there were increases in non-residential buildings (+21.8%), engineering constructions (+13.2%) and residential buildings (+4.8%).
Also, in 2022, construction industry had a contribution of 7% of GDP almost similar with the value from 2021, respectively 6.6%, and contributed to the growth of the economy by 4.8%.
Housebuilding
In 2022, a total of 43,660 building permits were issued for residential buildings representing 11383046 sqm, in decrease by 14.9% compared to 2021, of which those for residential buildings with one house represented 92.3% of the total.
The several building permits for individual buildings with one house were released for the rural area, respectively 28345 authorizations, the remaining 11956 authorizations targeting the urban environment.
For residential buildings for collectives were issued 45 permits.
In 2022 decreases were recorded in all development regions: Bucharest-Ilfov (-1490 authorizations), North-East (-1296), South-Muntenia (-1184), West (-996), North-West (-857), Center (-656), South-East (-594) and South-West Oltenia (-554).
The situation of permits issued for residential buildings in 2022 highlights a decrease in the number authorizations issued both in the rural environment with 5577 authorizations and in the urban environment with 2050 authorizations, compared to 2021.
In 2022, 73332 houses were built, more with only 1927 compared with 2021, out of which 54.75% (decreased compared with 2021 when the percentage was 59.5%) were built in urban areas and 45.3% in rural areas (the number increased compared with 2021 when the percentage was 40.5%). Most of the houses were built with private funds- 98.1%.
Most homes completed in 2022 were made from private funds, with a share of 98.1% of the total of completed houses, their number increasing by 2167 homes, compared to the year 2021*) and only 1.9% were made with public funds.
Non-residential construction
In 2022, a total of 126 building permits were issued for non-residential administrative buildings representing 239339 sqm usable area, and 6734 permits for other non residential buildings representing 3545762 sqm usable area.
Civil engineering
The value of construction works in the contract, in nominal terms for new construction- civil engineering totalized 7,356,542.43 thousands EUR in 2022, increasing comparing to 2021 when it was 5,570,830.01 thousands EUR.
In 2022 compared to 2021, the volume of construction works, as a gross series, increased, in total, by 12.9%. On construction objects, there were increases in engineering constructions with 13.2% in 2022 comparing with 2021.
Prices of construction materials
The corona crisis and the war in Ukraine affected the construction industry with projects facing disruptions of value chains of the construction ecosystem, soaring prices of raw materials and building materials, fuel and electric energy, delays in planning and implementation. The increase in prices for the main raw/ building materials was significant in 2021 and 2022.
As an example, according with the data provided by our National Institute of Statistics the price of steel at the end of 2022 was aproximately 44% higher than in 2020, with a peak of the increase in 2021- approx. 60.31%.
The price of cement at the end of 2022 was with approx. 28% higher than in 2020, the price of bitumen in 2022 was higher with 104.35% than in 2020 and the price of wood at the end of 2022 was higher with aprox. 60% than in 2020.
Number of building permits in residential construction
