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The Impact of COVID-19 on the Building Industry and on Real Estate Transactions in Romania

In: Economic Recovery After COVID-19

Author

Listed:
  • Anghel Ion

    (Bucharest University of Economic Studies)

  • Simion Cezar-Petre

    (Bucharest University of Economic Studies)

  • Ciora Costin

    (Bucharest University of Economic Studies)

  • Ionașcu Elena

    (Bucharest University of Economic Studies)

  • Dumitru Ovidiu

    (Bucharest University of Economic Studies)

Abstract

This article dwells on an extended research regarding the impact of the COVID-19 pandemic on the building industry and on real estate transactions in Romania. The main reasons for conducting the study were both the importance of this field for the Romanian economy and the unique opportunity to observe the effects of the pandemic on the building industry and real estate transactions. The research focused on the segments of activity where we could identify this impact fairly quickly and describe it from a quantitative perspective, which revealed a drop in demand for new constructions as well as in the number of real estate transactions during the lockdown. The human resources in the field of constructions and real estate transactions also were among those who suffered the most, if we are to judge from the share of cancelled individual labor contracts in the total number of labor contracts that were cancelled across the country during the pandemic. At the beginning of the pandemic, the labor force in the construction sector was among the most affected, with almost 18% of employment contracts concluded at national level.

Suggested Citation

  • Anghel Ion & Simion Cezar-Petre & Ciora Costin & Ionașcu Elena & Dumitru Ovidiu, 2021. "The Impact of COVID-19 on the Building Industry and on Real Estate Transactions in Romania," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Ion Anghel & Razvan Catalin Dobrea (ed.), Economic Recovery After COVID-19, pages 157-174, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-86641-9_8
    DOI: 10.1007/978-3-030-86641-9_8
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