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.
The fund Cultura Face Bine, a national funding mechanism for cultural projects backed by private-sector financing, will begin supporting local cultural organizations in 2026. The fund aims to support grassroots cultural initiatives with a proven impact in their communities and which need resources to continue, develop, or transform their activities. The funding mechanism has been […]
The European Commission (EC) announced on Thursday, December 11, that it is referring Romania to the Court of Justice of the European Union (CJEU) for failing to meet obligations under Ambient Air Quality Directives. According to the Commission, Romania has not ensured that its national air quality monitoring network complies with legally required standards on […]
The Bucharest Court of Appeal (CAB) held an unprecedented press conference on Thursday, December 11, in response to allegations raised in a recent media investigation published by Recorder, with court president Liana Arsenie firmly rejecting the claims. However, at the start of the press event, a judge from within the institution publicly stated that the […]
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 […]
