. BULGARIA
Experts believe that Bulgaria’s upcoming entry into the Eurozone will slow down the local housing market, Economic.bg reported. Petar Sotirov, the commercial director of the construction and investment company VM Invest who took part in the “Personal Finances” forum, held in April in Sofia said that “after a while the dynamics of the market will return.”
.CROATIA
Croatia’s construction output increased by 14.6% in March y-o-y, after rising by 15% in February, the country’s bureau of statistical said, citing preliminary working-day adjusted data. Construction Output in Croatia averaged 1.89% from 2001 until 2024, reaching an all time high of 25.00% in May of 2003 and a record low of -22.80% in February of 2010, according to Trading Economics.
. CYPRUS
The Limassol Municipality is expected to issue a building permit by the end of the month for the Aura project, a skyscraper designed by Foster + Partners with support from international and Cypriot consultants, Cyprus Property News reported. Aura is poised to become the island’s tallest building at 181.5 metres. The major new 46 storey luxury residential development will provide 32,338 sq m of residential accommodation, 3,160 sq m retail units and other recreational areas, plus over 26,000 sq m of public realm, ancillary and parking space.
.GREECE
The Total Building Activity (private-public) in Greece, in February 2024 which is calculated on the basis of the number of issued building permits, amounted to 2,744. This figure corresponds to 627,270 m2 of surface and 2,581,030 m3of volume, reflecting, respectively, a 77.8% increase in the number of building permits, a 70.2% increase in surface and a 72.0% increase in volume, compared with the corresponding month of 2023, ELSTAT data showed.
.MOLDOVA
Moldova’s National Bureau of Statistics informed that in January-March 2024, the volume of construction works decreased compared to the same period of 2023 by 6.3% (in comparable prices), as a result of decrease in the volume of new construction works (-5.8%), in the volume of capital repair works (-32.8%) and in the volume of other construction works (-35.6%). At the same time, the volume of current maintenance and repair works increased by 37.0% compared to January-March 2023.
.ROMANIA
CTP, the largest owner and developer of logistic and industrial spaces by gross leasable area (GLA) in Europe, has acquired from Globalworth, the main office investor in CEE, an industrial portfolio of 270,000 square meters GLA and 30 hectares of land in six key locations of Romania. The portfolio is comprised of six industrial parks providing an appropriate mixture of locations in the vicinity of CTP’s parks (Bucharest, Arad) and complementary locations strengthening CTP’s footprint in the area (Pitesti, Oradea, Timisoara).
.SERBIA
The number of building permits issued in Serbia dropped 11% to 2293 in March, on an annual basis, the statistical office said. Out of the total number of permits issued, 80.7% related to buildings, and 19.3% to civil engineering constructions. When only buildings are concerned, 77.5% of permits related to residential buildings, and 22.5% to non–residential ones.
