(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Construction Market in Romania 2015-2019" on their comprehensive research portal.
The construction market in Romania has been witnessing a positive rebound since 2013 after a double digit growth decline in 2008-2010 because of the global economic crisis. The market growth is led by resurgence in the real estate market and increased investments in the infrastructure sector. Rising income levels and an increase in the employment rate are propelling the demand for residential property particularly from the middle income group. Further the boom in the service sector particularly in IT retail and BPO is driving the demand for office space in the country. The government is also placing huge emphasis on the development of energy-efficient buildings. Moreover a decrease in construction tax from 1.5% to 1% from January 2015 is further accelerating the market growth.
Technavio's analysts forecast the construction market in Romania to grow at a CAGR of 3.38% over the period 2014-2019.
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The report analyst commented "The green building market in Romania is gaining immense prominence. Green buildings are energy-efficient buildings that consume less energy. Construction of green buildings limits carbon dioxide emission into the atmosphere. Skanska Romania developed Green Court office building in Romania in 2014 and the second phase of the construction is presently in the pipeline. The building is expected to consume 40% less energy than the Romania energy code for office buildings. Further to increase demand for sustainable buildings in the country the Romania Green Building Council along with leading regional banks has developed a Green Mortgage financing product in 2012. The Green Mortgage aims at providing discounted mortgage to buyers subjected to guidelines established by the council."
According to the report investment in transport infrastructure is driving demand for the construction industry in Romania. Romania has a poor transport infrastructure quality as compared to other European countries. In 2014 Romania was ranked 89th out of 144 countries. Therefore to develop transport infrastructure the government is aiming to invest more in this segment. It is estimated that $51.49 billion worth of investment will be funded through the EU Cohesion Policy 2014-2020 toward transport infrastructure development in Romania. Investment will be made toward development of roads highway railways ports and airports.
Further the report states that poor infrastructure quality has high impact on growth of the economy as it hampers business productivity foreign investment and international competitiveness.
The key players in the Construction Market in Romania are Hidroconstructia REALDESIGN TRUST S.C. Heberger Constructii and Tecton Trust while other prominent vendors include Delta ACM and PAB Romania
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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