According to Yasen Georgiev from EPI, EECFA Bulgaria, like elsewhere in the EECFA countries that are not directly impacted by the war in Ukraine, the construction market in Bulgaria entered a period of an increasing unpredictability. What stands behind is an interplay between domestic and external factors.

New laws on spatial planning and construction will replace the nearly half-century-old 1976 Construction Act in Slovakia. The National Council of the Slovak Republic approved them on Wednesday with a large number of changes compared to the original form, along with a related amendment to the Competence Act, reports webnoviny.sk.

Serbia’s construction market was booming when the economic and geopolitical situation changed, so the complicating circumstances in the world are stifling the potential growth and slowing down the ongoing recovery. Inflationary pressures have exploded with the start of the war in Ukraine and the effects of the current crisis are still unforeseeable, writes Dejan Krajinović from Beobuild Core d.o.o. for EECFA Serbia.

The latest report from research firm Spectis indicates that following a strong start to the year, the outlook for the construction sector over the coming months of 2022 is now less bright. The expected slowdown can be indirectly caused by the ongoing war in Ukraine, which only aggravates the problems the market has been facing previously, such as soaring prices of raw materials, building materials, and energy sources or the shortage of labour.

For Croatia, as for other EECFA countries, the Russian invasion of Ukraine has been both a supply shock and a demand shock. And many of the elements of these shocks are the same for Croatia as for other EECFA countries. On the supply side, energy costs are rising as are the costs of construction materials and of construction finance. Supply chains and labour markets have also been disrupted. On the demand side, inflation has cut into consumers’ real disposable income, consumer confidence has been shaken as a result and finance for real estate purchases has become more expensive, says Michael Glazer, SEE Regional Advisor at EECFA Croatia.

The Prague City Council plans to start building hundreds of council flats for rent in the coming years. The municipality wants to address the deepening housing affordability crisis in this way, E15.cz reports.

Inspired by its parent company, UBM Development Czechia wants to use more ecological elements in its future construction in the Czech Republic and thus strengthen the trend of sustainable construction. One of them is eco-friendly wooden structures, the company announced today.  

The Getberg development company is now starting to build a new residential project Forest Views in Dařbož near Prague. Another project is in the pipeline in Dubí and two projects near the capital - in Strančice u Říčany and Unhošt' - are currently being completed, Getberg announced.

CPI Property Group plans to offer over two thousand new apartments on the Prague residential market this year. The developer wants to start the construction in three locations - Vysočany, Žižkov and Zahradní Městě, local daily E15 reports.

Romania’s trade relations with Ukraine, Russia and Belarus are limited, but the country has been importing raw materials from these countries that are used in the local construction market, according to an analysis by the Eastern European Construction Forecasting Association (EECFA).