According to the report “Informe diagnóstico de la Construcción del cuarto trimestre del año”, prepared by Spain’s General Council of Technical Architecture (CGATE) and the British professional body for surveyors, the Royal Institution of Chartered Surveyors (RICS), housing construction in Spain is expected to grow by 49% in 2022. For non-residential buildings the forecast is 20%, and for civil infrastructure 14%.
These estimates are based on the positive trend seen over the last three months of 2021 and on money coming in from European funds. It should be enough not only for new projects but also for renovation work on resale properties.
At the same time, revenue in the construction sector could fall by 13% over 2022. Representatives of 86% of construction companies say the main reason is the rising cost of materials, which is forecast to reach almost 9%. Another serious problem holding back further growth, according to 82% of those surveyed, is the shortage of skilled labour.
