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Housing Construction Could Rise by 5% in 2014

Posted on by peteradmin247

Housing construction in Spain will rebound by 5% next year and by 15% in 2015, according to forecasts presented last week by the Building Technology Institute of Catalonia (ITeC), member of Euro construct (an analysis group consisting of 19 European institutes).

Although these percentages translate into “insignificant” increases in activity in absolute terms, El Mundo reported that it is virtually the only positive data for the whole of the construction sector, which will continue in free fall this year.

According to ITeC, which prepares the report on Spain for Euro construct, the construction sector (comprising residential building, non-residential, rehabilitation and civil engineering) will yield by 23.8% in 2013, 7.7% in 2014 and 1.5% in 2015.

At a press conference, the head of the IteC forecast analysis service, Josep Ramon Fontana, explained that, although 2013 will close with 40,000 new home constructions started in Spain, which is 20% less than in the previous year, in 2014 the number of new home constructions will rise to 45,000, and in 2015 up to 60,000.

Fontana stressed that although these figures are “absurdly low” compared, for example, with the average 250,000 units started during the crisis of 1991-1993, they are “sufficient” to register increases in activity in 2014 and 2015, though with scarcely any “intensity”.

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