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Real Estate: Statistics: Drop in the number of completed  residences in Romania, in Q1 2024

October 15, 2024

The number of homes put into use in Romania, in Q1 2024 was down by over 6,1000 units, compared to the same period of 2023, according to the National Institute for Statistics (INS).   According to the quoted source, during the analysed period, 25,936 dwellings were put into use, down by 6.141 dwellings, compared to the same period of the previous year. In terms of residential areas, most new homes were in the urban environment, 56.1%  of the total.   Speaking about the financing sources for the dwellings, in Q1 2024 as compard to Q1 2023, the number of dwellings made out of private funds (-6.386) was lower but the number of dwellings made out of public funds (+245)was higher.    The INS data show that, by the end of June this year, speaking about regional distribution, there was a drop in the number of dwellings completed in all development regions: Bucharest-Ilfov (-2,193), South-East (-1,494), Centre (-926), North-East (-779), South -Muntenia (-370), West (-222)South-West Oltenia (-106) and North-West (-51).   As for Q2 2023, during the same interval of this year, most dwellings were built in urban environment (57.7%)and depending on the financing funds, there was a drop in the number of dwellings made out of private funds (-2,508)but there were built out of public funds (+336).   From the regional point of view, there are drops in the completed dwellings in the following development regions: Bucuresti-Ilfov (-680), South-East (-669), South-Muntenia (-275), Centre (-264), North-West (-143), North-East (-138) and West (-100).   On the other hand, at the level of Q2 2024, there were increases in the number of completed dwellings in the development region: South-West Oltenia (+97).

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