The residential construction sector will first rebound in smalltowns and only then in Bucharest, amid lower stocks of residentialbuildings outside Bucharest, believes Luca Serena, chairman ofItalian group Euroholding.
"The residential sector experienced a boom especially inBucharest, there is demand, a lot has been built, but the stock haslargely remained unsold. In smaller towns, on the other hand, notso much has been built," believes Serena, who in Romania runsItalian group Euroholding, with operations in the construction,textile industry and real estate.
In fact, he says Romania should not miss the train of Europeanfunds dedicated to infrastructure, because otherwise the governmentdoes not have the economic force to invest in building motorways onits own.
"It is an often-made mistake to believe that only after you buildhouses or hotels should one build infrastructure. Or, it is theother way round: we first have to build infrastructure. There's nopoint in building hotels or promoting Romania as a traveldestination if there are no motorways or airports close to thetourist attractions," Serena explains.
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