Construction

The luxury real estate market is expected to reach US $1,173 billion (+102%).

During the 97th Euroconstruct conference the new forecasts for the European construction sectors.

The recovery is driven by the Hotel and Living sectors.

In the third quarter of 2023, the construction sector grew by 13.3% on the same period in 2022, while forecasts for the whole 2023 reveal a robust 9.6% real-term expansion.

There are great expectations for Batimatec 2024 in Algiers in May, as the construction industry is benefiting from strong housing demand driven by population growth and rapid urbanisation.

In 2023 the U.S. residential construction decreased for the second consecutive year. 1.41 million new houses were built last year, down 9% on 2022. The outlook is negative also for the year 2024.

Euroconstruct has revised down its 2023 estimates (-1.7%) and 2024 forecasts (-2.1%). The construction sector is expected to resume growth from 2025 onwards.

The sector is grappling with critical issues that will be overcome in 2024 with the economy's gradual recovery and the growth of investment.

Euroconstruct confirms a +3% growth in 2022, while revising downward the new forecast for 2023 (-1.1%) and 2024 (-0.7%).

According to the recent GlobalData report, Algeria’s construction industry in 2023 will be driven by major ongoing projects in the residential, transport and renewable energy infrastructure sectors.

Despite the uncertainties of the current macroeconomic environment, the sector as a whole remains buoyant.

In 2022 the U.S. residential construction decreased for the first time since 2007. 1.56 million new houses were built last year, down 2,9% on 2021. The outlook is negative also for the year 2023.

Euroconstruct’s latest economic forecasts predict that construction output growth will drop to 0% in 2024 across Europe. Civil engineering looks positive, but other sectors are expected to be negative.

Construction volume in the Euroconstruct area will grow by 2.3% in 2022, with a similar rate forecast for 2023.

The sector ended 2021 with total investments of €58 million, an increase of 78% on 2020 and 38% on 2019.

The first half of 2022 the Italian real estate market made total investments of approximately €6.1 billion, a 100% increase over the same period in 2021 and an all-time record.

The project by Zaha Hadid Architects will cover a total area of almost seven hectares between Bosnyák Square and Rákos Creek.

The project aims to make up the housing deficit in Ghana in excess of 1.2 million units.

Investments in construction in South Africa should grow by 9% in 2022. The industry will then stabilize at an annual average growth of 3.1% between 2023 and 2025.

In 2021 the U.S. residential construction reached its highest level since 2006, with 1.6 million new hoouses, up 15.6% on 2020. The outlook is positive also for the year 2022.