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Real Estate: Construction market in Romania to reach 90 billion lei in 2020
The business figure of the local construction market will reach about 90 billion lei this year, compared to 89 billion lei in 2019, an analysis released by KeysFin on Wednesday shows.
According to the source, in 2018, the business figure of the local construction market (building construction, civil engineering and special construction works) was 84.4 billion lei.
“From our point of view the construction market in Romania has all chances to continue growing but it depends on social and economic measures applied by the government, so that Romanians could buy new houses and companies should continue investing in new buildings,” said Roxana Popescu, managing director of KeysFin, one of the most important suppliers of business information solutions in the local market.
KeysFin analysts also mention the considerable drop of insolvency number by 58% against the negative record of 3,000 insolvencies in 2013 and the 1,018 insolvencies of 2019. At the same time, 315 insolvencies were recorded in the construction sector, which shows that for the time being, this sector has not been affected too much.
According to the latest INS data, the volume of construction works dropped in May by 2.2% against April 2020, but was by 14.3% over May 2019. In the first 5 months of 2020, the advance was 23.7% against the same period of 2019.
The KeysFin analysis shows that Bucharest ranks first in the top of counties according to the business figure in constructions, amounting to 26 billion lei, 31% of overall national level in 2018. The capital city is followed by Cluj (7.4% of total), Ilfov (6.9%), Prahova (4%) and Timis (3.8%). Companies recorded in the five counties total about 53% ot the local business figure of this sector.
KeysFin is offering solutions for reducing commercial risk using data about companies from Romania and abroad by means of delicate instruments. With a portfolio of over 500 customers, KeysFin is one of the most important suppliers of of business information solutions in Romania. KeysFin also owns KeysFin application, with which users can easily and rapidly access financial situations, indicators and juridical information from over 4 million economic entities in Romania.