2014, a year with more authorizations issued for residential constructions in Bucharest and Ilfov

According to the National Institute of Statistics, last year the number of the authorizations for the construction of residential buildings in Bucharest and Ilfov increased by 25%, up to 6200 licenses, while, at national level, there were issued approximately 37000 authorizations, down with 0.3%. After the first nine months of 2014 brought a new record in houses and flats deliveries in Bucharest and surroundings, in December 2014 the number of the authorizations for residential constructions raised with 36%, highlighting that the trend of investment resumption in housing is confirmed. The raised number of the construction authorizations shows the possible evolution of the constructions for the next 6-12 months, the period estimated for the construction of a house or of a medium block, but is not mandatory that every approved project to be put in practice. Anyhow, this dates are useful in observation of the desire for the new construction, and this desire was maintained at high levels till the end of the last year. An authorization may be used for a house construction, for a block of flats or for an entire compound, so that the total number of new houses and apartments might be significant higher that the number of the issued construction authorizations. Nevertheless, if we are looking at the market for the whole country, the residential sector is still low, the only region with a small raise of construction authorizations (280 licenses) being the hole North-West of the country (Bihor, Bistriţa-Năsăud, Cluj, Maramureş, Satu Mare şi Sălaj Counties). Source: zf.ro