2023-07-31 16:05:48
Since the outbreak of the coronavirus pandemic, in 2020, we have been experiencing crises following crises, like in a carousel that seems to never stop. During this time, prices in all areas have increased, first due to the health crisis, then due to very high energy prices.
Construction in RomaniaPhoto: Inquam Photos / George Calin
Russia’s war once morest Ukraine, which has been going on for more than a year, has also left its mark on the market. And over inflation at levels not seen for 20 years in Romania, the unpredictable reappeared in the collective mind: the earthquake of February 6, which hit Turkey and Syria, causing huge casualties and destruction.
Romania will therefore be a neighbor to an enormous construction site in the region, both north and south of us. Because not only Turkey has to rebuild, but also Ukraine, no matter when that will be possible. These two reconstructions of historic proportions will require not only labor but also building materials.
Closer to construction sites and investments in Romania, it is a time when European funds allocated to construction and infrastructure projects are also in a hurry. We are talking regarding money that comes either through the PNRR, the European post-Covid economic recovery fund, or the usual European funds, because this year is the last in which the money from the European multiannual budget 2014-2020 can be spent.
Inflation, energy prices, Turkey and Ukraine, the timetable for absorbing European funds – all this tangle of pressures on the construction market will have a serious impact. Those on the real estate market, which any citizen can follow more easily, will be only part of this complex landscape.
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