The steepest fall was recorded in multi-unit residential construction, where the value of commenced projects dropped 31% compared with H1 2025. Developers are facing tighter financing conditions and weaker demand, while home prices are rising more slowly than inflation or construction costs, reducing the appeal of speculative development. A ransomware attack on the land registry database compounded the pressure by freezing property transactions, mortgage contracts, land surveys and construction authorisations for several weeks, with the resulting backlog expected to weigh on activity for the remainder of the year.

Non-residential construction posted a more moderate decline of 17% year-on-year. Publicly funded buildings, particularly in healthcare and education, accounted for much of the fall as government investment came under pressure from austerity measures and a focus on completing projects funded through the National Recovery and Resilience Plan (NRRP). The private sector showed greater resilience, with notable activity including the start of a remodelling project at Palas Iași mall in Q2 2026, with an estimated value of €80 million.

The infrastructure submarket recorded the smallest decline among the three segments, falling 14% year-on-year, as the administration prioritised completing existing works ahead of the August 2026 NRRP deadline rather than launching new projects. An ongoing government crisis has further complicated both the initiation and financing of new schemes, though a ramp-up in 2021-2027 EU funding programmes could provide support later in the year. Among projects that did break ground in H1 2026 was the renovation of the Bucharest North to Giurgiu North Border railway line (55 km), co-funded with €423 million from the CEF 2021-2027 budget.