Euroholding head: Residential construction segment to first rebound in small towns

The residential construction sector will first rebound in small towns and only then in Bucharest, amid lower stocks of residential buildings outside Bucharest, believes Luca Serena, chairman of Italian group Euroholding.

“The residential sector experienced a boom especially in Bucharest, there is demand, a lot has been built, but the stock has largely remained unsold. In smaller towns, on the other hand, not so much has been built,” believes Serena, who in Romania runs Italian group Euroholding, with operations in the construction, textile industry and real estate.
In fact, he says Romania should not miss the train of European funds dedicated to infrastructure, because otherwise the government does not have the economic force to invest in building motorways on its own.
“It is an often-made mistake to believe that only after you build houses or hotels should one build infrastructure. Or, it is the other way round: we first have to build infrastructure. There’s no point in building hotels or promoting Romania as a travel destination if there are no motorways or airports close to the tourist attractions,” Serena explains.