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Economic
Telecom.IT: Average upload speed for fixed internet increases by more than 50% in 2022
Tuesday, February 28, 2023
The average upload speed for the fixed internet increased by over 50% last year, compared to 2021, and the download speed registered a 17% advance, according to the statistics developed by the National Authority for Administration and Regulation in Communications (ANCOM) based on the tests carried out within the Netograf platform."In 2022, users in Romania experienced an average download speed of 533 Mbps for fixed cable internet, an increase ...
IT industry keeps growing despite ongoing crises
Tuesday, February 28, 2023
The information technology (IT) industry is going through difficult times, just like many other industries around the world. US giants appear to be the most cautious at the beginning of 2023, announcing layoffs in the tens of thousands and citing concerns about a potential economic recession. Fortunately, this has not been the case in Romania, where the deficit of qualified employees is estimated at around 10,000 every ...
Cars: PwC Report: Electric car sales grew by 28% in main European markets in 2022
Tuesday, February 28, 2023
The main European car markets recorded a 28% sales increase for electric cars (BEV), in 2022 compared to the previous year, according to a report released by PwC on Thursday. The analysis, made by “Strategy&”, the world strategy department from the PwC networ, shows that in quarter 4, 2022, sales recorded a 39% advance, reported to the same period of ...
Romanian car market, 31 pct increase in January, compared to 10 pct European average
Tuesday, February 28, 2023
Car sales in Europe increased in January 2023 for the sixth month in a row, and the Dacia brand sold more cars than Peugeot or Renault, according to data published on Tuesday by the European Automobile Manufacturers Association (ACEA).This association, which represents the 16 largest car manufacturers in Europe, reported that 911,064 cars were registered in January 2023 in the European Union, Great Britain and the EFTA countries (Iceland, Liechtenstein, Norway and ...
Local automotive industry looking at huge investments this year
Tuesday, February 28, 2023
Automotive is one of the most important industries in Romania, with a GDP contribution of over 28 percent, according to Economy minister Florin Spataru. There are over 500 companies operating in the sector, employing more than 230,000 workers and covering almost a third of all exports. “The pandemic has accelerated the electrification process and has pushed for the development of new projects, which can now also be ...
Healthcare: Private medical system covering gaps in public healthcare
Tuesday, February 28, 2023
The private medical services industry has been growing rapidly over the past 10-12 years. The industry grew along with the economy and the population’s purchasing power. Offering a much needed alternative to the public health system, private services have been welcomed by Romanian people. The latest estimates show that private clinics providing specialised medical assistance reached well over EUR 2 billion in ...
Tourism : Gov’t approves a state aid scheme for spa tourism operators
Tuesday, February 28, 2023
The government analysed a memorandum approving a state-aid scheme for business operators investing in spa tourism, Prime Minister Nicolae Ciuca said on last Wednesday."An important document for the business community is the memorandum from the Ministry of Entrepreneurship and Tourism, a memorandum approving a state aid scheme that comes to support operators who invest in spa tourism," Ciuca said at the beginning of a government sitting.He added ...
Real estate: Number of houses sold in Bucharest last year 11% higher than in 2021
Tuesday, February 28, 2023
The number of transactions with apartments grew by 11% in Bucharest, last year while the authorized area for residential projects recorded a 21% increase, exceeding 2 million square meters, th equivalent of 40,000 apartments, according to estimates of the real estate company Colliers. In the rest of the country, demand in the residential marked recorded drops of 10%, a tendency also noticed for the ...
Office projects of more than 275,000 Sq. M planned outside Bucharest in the next 5 years
Tuesday, February 28, 2023
Developers announced the construction of more than 275,000 sq. m of new office projects in the major regional cities – Cluj-Napoca, Timisoara, Iasi and Brasov, and therefore the modern office stock should reach approximately 1.3 million sq. m in the next 5 years. An increasing development activity has been noticed, especially when compared with the 2021 – 2022 period, when close to 70,000 sq m of office spaces were delivered in the four cities in question, ...
Real Estate: CBRE: Top trends that will accelerate the development of the Industrial & Logistics Market, after a record 2022
Tuesday, February 21, 2023
Record – a single word can describe the performance of the Industrial and Logistics (I&L) market in Romania in 2022, the best year ever recorded by logistics players. Total leasing activity in the sector exceeded the 1.0 million square meter threshold for the first time, reaching 1.1 million square meters. The total volume is 31% higher compared to the value register in 2021, according to the CBRE Romania – ...
Retail and logistics markets gearing up for further growth
Tuesday, February 21, 2023
Romania’s real estate market is poised for continued growth in 2023, thanks to the projected 3-4 percent expansion of the local economy, despite the ongoing conflict in Ukraine and the potential for stronger effects of monetary policy tightening in the Eurozone and the US. While an exceptional 2022 is likely to be followed by a year of rebalancing in terms of activity in the real estate investment segment, the logistics and industrial market remains ...
Real Estate in 2023: Searching for stability as crisis looms
Tuesday, February 21, 2023
The real estate market was fairly stable in 2022, even with everything that happened during the year, including the war in Ukraine, rising energy prices, inflation, supply chain disruptions, and humanitarian crises—all under the spectrum of a prolonged pandemic and the threat of nuclear war. But the real estate market proved resilient enough to keep going, avoiding drops in prices or sales. The total value of transactions even saw an increase of 39 percent, according to Cushman and ...
The land market remained very active in 2022
Tuesday, February 21, 2023
The land market remained very active in 2022, maintaining trends seen in the past couple of years which marked the best levels since 2007, but dropped by around 45% in volume of deals closed, reaching a turnover of around 450 million euros, according to the 2022 Annual Report released by Colliers. Many contracts are on hold, with their closing depending mostly on urbanism-related conditions, which are being fulfilled at an extremely lower pace, especially for ...
Cars: Electrified cars market share rises to 22 pct this January
Tuesday, February 21, 2023
Romania's vehicle registrations were 30.6 percent up in January this year from the same period of 2022, while green car registrations jumped 61.2 percent, taking the market share of these vehicles to 22 percent of the total, shows a survey released on Wednesday by the Association of Automobile Manufacturers and Importers (APIA).Of the total number of motor vehicle registrations, cars account for approximately 85 percent in January, with 12,134 units, up 31.2 percent ...
Passenger car production in Romania up 9.65 in January
Tuesday, February 21, 2023
The national production of passenger cars increased by 9.65pct in January 2023 compared to the same period in 2022, up to 35,171 units, according to the Romanian Automobile Manufacturers Association (ACAROM).According to the same source, of the total reported in the first month of this year, 26,322 units were produced at the Dacia plant in Mioveni, while 12,246 units were produced at the Ford Otosan plant in Craiova.On the other hand, the data of the Directorate ...
Agriculture: Romanian wine and wine market, record level of almost RON 2.1 billion in 2021
Tuesday, February 21, 2023
The turnover of Romanian wine producers increased by over 20% compared to 2020 at the highest level in history, of almost lei 2.1 billion in 2021. Thus, in line with KeysFin analysts’ estimates, the local wine market exceeded by 3.4% the previous peak reached in 2017, of just over lei 2 billion and was 55% above the level in 2012. “For 2022 we estimate the continuation of the growth of the wine market and the exceeding of the maximum level ...
Infrastructure: Contract worth over 300 million lei for the modernization of the International Airport Satu Mare
Tuesday, February 21, 2023
The county council Satu Mare signed on Monday a contract worth over 300 million lei for the modernization of the International Airport Satu Mare and a new terminal to be built. Also, the existing terminal and the boarding platform will be extended and the runway will be rehabilitated. ‘On 13th February 2023 a new contract was signed for works of modernization of the International Airport Satu Mare. It is the contract’ Rehabilitation and ...
Real Estate: 20% more buildings in Romania, last year
Tuesday, February 14, 2023
The number of building projects carried out in Romania grew by 20% in 2022 compared to the previous year, reaching 29,719, a specialized analysis released on Friday shows. According to the source, 2022 continued the growing trend of the number of building projects with positive evolutions in nine fields analyzed: Office/Commercial, Private residential buildings, Social buildings, Hotel & leisure, ...
Demand for industrial areas in Romania reached 1.17 million cubic meters rented in 2022
Tuesday, February 14, 2023
The demand for industrial areas in Romania in 2022 exceeded by 15.6% the record established the previous year, reaching 1.17 million cubic meters rented, according to the analysis made by JLL Romania. In quarter 4, 2022, the total demand for industrial areas was for 370,000 sq.m., on the drop by 23.5% compared to quarter 4, 2021. Net demand was 310,000 sq.m., on the drop by 7.3% against Q4, ...
Rental demand on the Bucharest office market increased by approximately 6% in 2022
Tuesday, February 14, 2023
Given the generally difficult economic context, 2022 was decent enough for the Bucharest office market in terms of demand, with the first half of the year very solid and comparable to the good times before the pandemic, while the second semester was rather comparable to 2021. Overall, total demand saw an increase of some 6% versus 2021, to around 279,000 square meters, while new demand jumped some 17% compared to 2021, to 122,000 square meters, according to the 2022 ...