The share of Bucharest in terms of newly delivered housing decreased to 57.4% in 2022, from 66.5% in 2020, while Ilfov County increased from 33.5% to 42.6% in the reference period, according to an analysis published on last Wednesday."The urban gridlock has clear effects in terms of the accessibility of new homes in Bucharest. It increases the share of deliveries from neighboring areas, this fact having a direct impact on the increase in traffic values and pollution in the Capital, where people come to work, to bring their children to school or for social activities. In the context of the growing strategic importance of the CEE area, Bucharest loses major investments due to the uncertainty and lack of predictability in terms of urban regulation. The Romanian capital is in competition with other capitals in the CEE area, not with secondary cities in country, so the losses are incurred by the Romanian economy," explained Despina Ponomarenco, chairwoman of BREC.The specialized analysis reveals that, in accordance with the financial statements submitted to the National Fiscal Administration Agency (ANAF) by the companies active in the construction and real estate industry, as well as with the statistics of the National Institute of Statistics (INS), Bucharest's contribution to GDP- the national rate decreased from 37% in 2019 to 34.6% in 2021, respectively to 29.8% in 2022, a level similar to that of 2010.According to the quoted source, the estimated loss for tax revenues amounts to 3.45 billion euros, for the period 2022-2026, while the loss from the value added in the economy for the same period is 10.4 billion euros.The data from INS highlights the decrease in the number of homes delivered in Bucharest to the detriment of those delivered in Ilfov. Thus, from 66.5% in 2020, it dropped to 60.6% in 2021 and to 57.4% last year. At the same time, the share of Ilfov county increased to 42.6%.Bucharest Real Estate Club, organization of the real estate market, is composed of major, local and international investors, active in the segments of urban regeneration projects, office buildings, logistics and industrial parks, retail parks, residential investments, with cumulative portfolios of over ten billion euros.
Romania’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
A moose has been unexpectedly spotted in the Hunedoara county area, specialists from the conservation group Rewilding Romania announced on Wednesday, December 10, sharing footage of the animal on social media. The sighting is considered “an important discovery for Romania’s wildlife,” though experts caution that it remains unclear how the animal reached this region. According […]
Trade unionists will continue to require the Presidential Administration to mediate the conflict with the government on issues such as the minimum wage or the collective labour agreement, said Bogdan Hossu, president of the Cartel Alfa trade union confederation, as reported by
Prime minister Ilie Bolojan said on Wednesday, December 10, that Romania’s state budget for 2026 will be adopted only at the end of January, citing the need for Parliament to first approve legislation required to ensure predictability and compliance with the country’s deficit targets. His comments came as the government has been working to align […]
