Since the outbreak of the coronavirus pandemic in 2020, we have experienced crisis after crisis like a merry-go-round that never seems to stop. During this time, prices in all areas increased, first due to the crisis in the health care sector, then due to very high energy prices.

Russia’s war against Ukraine, which has been going on for more than a year, also left its mark on the market. And despite inflation at a level not seen in Romania for 20 years, the unexpected resurfaced in the collective consciousness: the February 6 earthquake that struck Turkey and Syria, causing massive casualties and destruction.

Thus, Romania will be a neighbor of a huge construction site in the region, both to the north and to the south of us. Because it is not only Turkey that must rebuild, but also Ukraine, regardless of when it becomes possible. These two reconstructions of historical scale will require not only labor, but also building materials.

Closer to construction sites and investments in Romania, the time has come when European funds allocated for construction and infrastructure projects are also in a hurry. We are talking about money that comes either through the PNRR, the European Post-Covid Recovery Fund, or the regular European funds, because this year is the last year in which money can be spent from the European multiannual budget 2014-2020.

Inflation, energy prices, Turkey and Ukraine, the schedule for the development of European funds – all this ball of pressure on the construction market will have a serious impact. Those in the real estate market, which any citizen can easily monitor, will only be part of this complex landscape.

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