construction activity in europe l`activité de la construction

Transcription

EUROPEAN CONSTRUCTION
INDUSTRY FEDERATION
EDITION
2016
CONSTRUCTION ACTIVITY IN EUROPE
L’ACTIVITÉ DE LA CONSTRUCTION EN EUROPE
DIE BAUTÄTIGKEIT IN EUROPA
ALL KEY FIGURES
AS AT 2015 (EU 28)
TOTAL CONSTRUCTION
€ 1,241
BILLION
3.2 MILLION
ENTERPRISES
CONSTRUCTION WORKERS:
14.1 MILLION
OF WHICH:
95% ARE SME’S
WITH FEWER THAN 20
93% WITH FEWER
THAN 10 OPERATIVES
43.5%
30.9%
OF GROSS FIXED
CAPITAL
FORMATION
OF INDUSTRIAL
EMPLOYMENT
8.5%
OF EU GDP
MULTIPLIER
EFFECT:*
42.3 MILLION
WORKERS
IN THE EU DEPEND,
DIRECTLY OR INDIRECTLY,
ON THE CONSTRUCTION SECTOR
* Source: Communication from the Commission “The Competitiveness of
the Construction Industry” COM(97) 539 of 4/11/1997, chapter 2
6.4%
OF EUROPE’S
TOTAL
EMPLOYMENT
FIEC
Created in 1905
Legal personality under French law
26 countries (23 EU, Switzerland, Norway and Turkey)
29 National member federations representing firms:
• of all sizes
• of all building and civil engeneering specialties
• practising all kind of working methods (whenever operationg as general contractors or as sub-contractors)
Associate members:
EFFC
European Federation of Foundation Contractors
EQAR
European Quality Association for Recycling e.V.
Cooperation Agreement:
NFB
National Federation of Builders (UK)
Partnerships
CONSTRUCTION ACTIVITY IN EUROPE - EDITION 2016
04
Sectoral Social
Dialogue
Social Partner in the European Sectoral Social Dialogue of the Construction Industry together with
FETBB-EFBWW-EFBH (European Federation of Building and Woodworkers)
http://ec.europa.eu/social/main.jsp?catId=480‎
EIC
Cooperation with EIC (European International Contractors) for activities beyond Europe’s borders
www.eic-federation.eu
CICA
The European founding member of CICA (Confederation of International Contractors’ Associations)
www.cica.net
ECF
Participant in the ECF (European Construction Forum)
www.ecf.be
EHF
Member of EHF (European Housing Forum)
www.europeanhousingforum.eu
CEN
Partner Organisation of CEN (European Committee for Standardisation)
www.cen.eu
ECCREDI
Member of ECCREDI (European Council for Construction Research, Development and Innovation)
www.eccredi.org
EEN
Associate Member of the Enterprise Europe Network of the European Commission
http://een.ec.europa.eu/
WorldSkill Europe
Associate Member of WorldSkills Europe
www.euroskills.org
Campaigns & Portals
Renovate Europe
Partner in the Renovate Europe Campaign www.renovate-europe.eu
Partner in the OSHA (European Agency for Health and Safety at Work) Campaign on “Healthy Worpkplaces
Healthy Workplaces
for All Ages”
(OSHA)
www.healthy-workplaces.eu
BUILD UP
Partner of BuiLD uP (The european Portal for energy efficiency in Buildings)
www.buildup.eu
ProductInfoX
Partner of Product InfoX
www.productxchange.com/en/International/Partners/ProductinfoX/projectdescription/
Posting of workers
FIEC-EFBWW website on “Posting of workers”
www.posting-workers.eu
Construction for
youth
FIEC-EFBWW website on “Construction for youth”
www.construction-for-youth.eu
Projects
CONTENTS
Introduction6
Total construction output by country
7
EU
European Union
8
AT
Austria
BE
Belgium26
BG
Bulgaria28
CY
Cyprus30
CZ
Czech Republic
DE
Germany34
DK
Denmark36
EE
Estonia38
ES
Spain40
FI
Finland42
FR
France44
GR
Greece46
HU
Hungary48
IE
Ireland50
IT
Italy52
LT
Lithuania54
NL
The Netherlands
PL
Poland58
PT
Portugal60
RO
Romania62
SE
Sweden64
SI
Slovenia66
UK
United Kingdom
CH
Switzerland70
NO
Norway72
TR
Turkey74
List of the experts
24
32
68
76
56
05
INTRODUCTION
06
 It is a great pleasure for me to present
this new edition (no. 59) of the annual FIEC
Statistical Report.
 C’est avec grand plaisir que je vous présente
cette nouvelle édition (N° 59) du Rapport
Statistique annuel de la FIEC.
 Gerne präsentiere ich Ihnen die aktuelle Ausgabe (Nr. 59) des jährlichen Statistikberichts der
FIEC.
The report provides an overview of recent
developments and perspectives in the construction industry in the various EU Member
States, as well as a series of indicators with
figures both for each country and for the EU
as a whole. The map shown opposite gives an
overall view of the performance of construction activity in the various European countries
in 2015.
Il dresse l’inventaire des récentes avancées et
perspectives pour le secteur de la construction
dans les différents États membres en Europe
et fournit divers indicateurs chiffrés, tant pour
chaque membre que pour l’Union Européenne
dans son ensemble. Par ailleurs, la carte qui
l’accompagne donne un aperçu global des
performances de l’activité de construction dans
les différents pays européens en 2015.
Der Bericht enthält einen Überblick über die
jüngsten Entwicklungen und Perspektiven der
Bauwirtschaft in den einzelnen EU-Mitgliedstaaten
sowie eine Reihe von Indikatoren mit Zahlen auf
Länder- und EU-Ebene. Die Karte auf der gegenüberliegenden Seite bietet eine Gesamtübersicht
zur Performance der Bauwirtschaft in den einzelnen
europäischen Ländern im Jahr 2015.
As regards the EU economy, 2015 was the
first year since the beginning of the crisis in
which all Member States reported an increase
in their GDP, but substantial growth differences persist between countries, reflecting both
their structural features and their different
cyclical positions. This was mainly supported
by several positive factors such as the low
oil prices, the Euro exchange rate and the
very low interest rate and mortgage rates,
which have stimulated exports and private
consumption.
En ce qui concerne l’économie européenne,
2015 est la première année depuis le début de
la crise au cours de laquelle l’intégralité des États
membres a enregistré une augmentation du PIB.
Néanmoins, il subsiste d’importants écarts de
croissance entre les pays, qui témoignent de leurs
caractéristiques structurelles et de leurs différents
cycles. Différents facteurs positifs y ont contribué,
comme la diminution du prix de l’essence, le cours
de l’euro, ainsi que des taux d’intérêt et hypothécaires très bas, qui ont stimulé les exportations et
la consommation des ménages.
There are however some economic and political challenges for the EU, such as the development and the handling of the asylum-seekers issue and the outcome of the referendum
in the United Kingdom, which are hindering a
stronger recovery in the current year.
L’Union Européenne reste toutefois confrontée
à certains défis, tant économiques que politiques, telles que la gestion des demandeurs
d’asile ou l’issue du referendum au RoyaumeUni, qui empêchent un redressement plus
marqué au cours de l’actuel exercice.
Within this framework as regards construction activity the recovery observed in 2014
(+1.7%) continued and strengthened in 2015
(+2.4%). However, the above economic and
political uncertainties within the EU and at
international level will have an impact on the
forecast for 2016 with construction activity
expected to continue its recovery (+2.1%),
but at a slower pace.
Ainsi, en ce qui concerne l’activité de construction, la reprise observée en 2014 (+1,7 %)
a perduré et s’est même renforcée en 2015
(+2,4 %). Cependant, les incertitudes économiques et politiques susmentionnées au sein
de l’UE et au niveau international auront une
incidence sur les prévisions de 2016. En effet,
l’activité de construction devrait poursuivre sa
reprise (+2,1 %), mais à un rythme plus lent.
Despite the overall decline in the general government deficit, several Member States still
have to cope with the necessary budgetary
consolidation measures which have been put
in place and which continue to lead to sometimes significant cuts in public investment.
Malgré la diminution globale du déficit public,
plusieurs États membres doivent encore faire
face aux mesures de consolidation budgétaire
requises qui ont été mises en place et qui sont
à l’origine de coupes sombres dans l’investissement public.
FIEC never stopped reminding political decision makers of the importance of investment,
in particular the public one, as there cannot
be any growth without investment and
infrastructure. Significant support could still
come from the Investment Plan for Europe
(also known as the “Juncker Plan”), which is
expected to mobilise investments of at least
€315 billion over three years. It is therefore
crucial to continue to mobilise our forces at
all levels (EU, national, regional, local), in order to ensure that projects which can benefit
not only larger companies, but also SMEs,
can be launched.
La FIEC n’a eu de cesse de rappeler aux décideurs politiques l’importance de l’investissement,
et plus particulièrement de l’investissement
public, étant donné que l’investissement et l’infrastructure sont des conditions essentielles à
la croissance. Le Plan pour l’Europe (également
appelé le « Plan Juncker ») pourrait encore
jouer un rôle majeur, vu qu’il devrait mobiliser
des investissements d’au moins 315 milliards
d’euros au cours des trois prochaines années.
Par conséquent, il est essentiel d’unir nos forces
à tous les niveaux (européen, national, régional,
local) pour veiller à mettre en place des projets
qui seront à la fois bénéfiques aux plus grandes
entreprises, et aux PME.
I would like to thank all the people in FIEC
and from our Member Federations who have
contributed to this report and I sincerely hope
that its content will be useful and interesting
for all readers.
Jean-Louis Marchand
Chairman of the Economic and Legal Commission
Je souhaiterais remercier toutes les personnes
de la FIEC et de nos fédérations membres qui
ont participé à ce rapport, et j’espère sincèrement que tous ses lecteurs trouveront son
contenu utile et intéressant.
Jean-Louis Marchand
Président de la Commission économique et juridique
Im Hinblick auf die EU-Konjunktur war 2015
das erste Jahr seit Beginn der Krise, in dem alle
Mitgliedstaaten einen Anstieg ihres BIP vermeldeten. Allerdings bestehen weiterhin starke Wachstumsunterschiede zwischen den Ländern, was ihre
strukturellen Merkmale sowie die unterschiedlichen
Konjunkturlagen in den einzelnen Staaten widerspiegelt. Dies wurde vorwiegend durch mehrere positive
Faktoren gestützt – z. B. die niedrigen Ölpreise, den
Euro-Wechselkurs und die sehr niedrigen Zinsen
und Hypothekenzinsen –, durch die Exporte und der
private Konsum angekurbelt wurden.
Es gibt jedoch einige wirtschaftliche und politische
Herausforderungen für die EU wie beispielsweise
die weitere Entwicklung und Bewältigung der Migrations-Problematik und der Ausgang des bevorstehenden Referendums im Vereinigten Königreich, die
eine stärkere Erholung im laufenden Jahr bremsen.
Vor diesem Hintergrund setzte sich in der Bauwirtschaft die Erholung aus dem Jahr 2014 (+1,7 %)
im Jahr 2015 verstärkt fort (+2,4 %). Die bereits
erwähnten wirtschaftlichen und politischen Unwägbarkeiten innerhalb der EU und auf internationaler
Ebene wirken sich jedoch auf die Prognose für
2016 aus. Die Bautätigkeit bleibt demnach weiterhin
im Aufschwung (+2,1 %), jedoch in langsamerem
Tempo.
Trotz der insgesamt sinkenden Staatsdefizite
haben mehrere Mitgliedstaaten noch immer mit
den ergriffenen notwendigen Maßnahmen zur
Haushaltskonsolidierung zu kämpfen, die weiterhin
teils signifikante Einschnitte bei den öffentlichen
Investitionen zur Folge haben.
Die FIEC weist die politischen Entscheidungsträger
stets auf die Bedeutung von Investitionen hin, insbesondere Investitionen der öffentlichen Hand, ohne
die es keine Infrastrukturen und kein Wachstum
geben kann. Eine erkennbare Unterstützung dessen
könnte sich aus der Investitionsoffensive für Europa
(auch bekannt als „Juncker-Plan“) ergeben. Es wird
erwartet, dass diese über drei Jahre hinweg mindestens 315 Mrd. Euro an Investitionen „freisetzen“
wird. Daher ist es wichtig, dass wir auch zukünftig
auf allen Ebenen (EU, national, regional, lokal)
unsere Kräfte mobilisieren, um sicherzustellen, dass
Projekte aufgelegt werden können, die nicht nur
den größeren, sondern auch kleinen und mittleren
Unternehmen zugutekommen.
Ich möchte mich bei allen Mitarbeitern in der FIEC
und aus unseren Mitgliedsverbänden bedanken,
die zu diesem Bericht beigetragen haben und hoffe
aufrichtig, dass die Inhalte für alle Leser aufschlussreich und nützlich sein werden.
Jean-Louis Marchand
Vorsitzender Wirtschafts- und Rechtsausschuss
TOTAL CONSTRUCTION OUTPUT BY COUNTRY
Variation of production in real terms
on previous year (2015/2014)
Variation du volume de la production
sur l’année précédente (2015/2014)
Reale Veränderungsrate im
Vergleich zum Vorjahr (2015/2014)
EU
2.4%
FI
-1.0%
NO
2.3%
SE
10.0%
EE
-7.5%
DK
1.7%
UK
8.5%
LT
-5.2%
BE
1.3%
NL
7.2%
FR
-3.3%
LU
NA
CH
-2.8%
DE
0.2%
CZ
-5.5%
PL
5.9%
AT
0.2%
SK
NA
SI
-7.3%
HR
NA
HU
NA
RO
10.0%
IT
-1.3%
PT
3.0%
ES
5.6%
07
BG
-0.7%
GR
-15.1%
MT
NA
TR
NA
CY
NA
Co-operation Agreement
NB:
The text and data contained within
the European report have been
drawn up on the basis of the national
reports supplied by the FIEC Member
Federations.
NB:
Le texte et les données du chapitre
Union Européenne ont été élaborés
sur la base des rapports nationaux
envoyés par les fédérations membres
de la FIEC.
NB:
Der Text und die Zahlen des Kapitels
„Europäische Union“ beruhen auf den
von den FIEC-Mitgliedsverbänden
zur Verfügung gestellten nationalen
Berichten.
IE
8.3%
EUROPEAN UNION
8
1. General economic overview
1. Aperçu économique général
1. Allgemeine Konjunkturlage
According to the latest economic forecast of the European
Commission, a moderate recovery of the EU economy can be
observed, but it is still facing
heigthened risks. The recovery
is mainly supported by several
positive factors such as the low
oil prices, the Euro exchange rate
and the very low level of interest rates which have stimulated
exports and private consumption.
The level of investment remains
however hampered by economic
and policy uncertainty and, in
some Member States, by a high
level of public debt.
Selon les dernières prévisions
économiques de la Commission
européenne, une reprise modérée
de l’économie européenne peut être
observée, mais l’UE reste confrontée
à des risques accentués. La reprise
est essentiellement soutenue par
plusieurs facteurs positifs, dont la
faiblesse des prix du pétrole, le taux
de change de l’euro ou le niveau très
bas des taux d’intérêt, qui ont stimulé
les exportations et la consommation
privée. Les investissements restent
cependant freinés par l’incertitude
économique et politique et, dans
certains États membres, par le niveau
élevé de l’endettement public.
Laut der jüngsten Konjunkturprognose
der Europäischen Kommission ist eine
moderate Erholung der EU-Konjunktur
zu beobachten. Dennoch ist sie weiterhin einem erhöhten Risiko ausgesetzt.
Die Erholung wird vorwiegend durch
mehrere positive Faktoren gestützt
wie die niedrigen Ölpreise, den EuroWechselkurs und das extrem niedrige
Zinsniveau, wodurch Exporte und der
private Konsum angekurbelt wurden.
Investitionen werden jedoch weiterhin
durch die wirtschaftlichen und politischen Unwägbarkeiten sowie in einigen Mitgliedstaaten durch eine hohe
öffentliche Schuldenlast gebremst.
Further economic and political
uncertainties are linked to the
development and the handling of
the asylum-seekers issue, to the
outcome of the referendum in the
United Kingdom next June, to
the geo-political situation in the
Middle-East and to the intensified
downturn in emerging markets.
D’autres incertitudes économiques
et politiques sont liées au développement et à la gestion du problème des
demandeurs d’asile, aux résultats du
référendum organisé au RoyaumeUni en juin prochain, à la situation
géopolitique au Moyen-Orient et à
l’intensification de la récession sur
les marchés émergents.
The data of the European
Commission indicates an increase
in the EU GDP of 1.9% for 2015,
which should remain on the
same level in 2016, whereas an
increase of 2.0% is expected for
2017.
Les données de la Commission européenne indiquent une augmentation
du PIB de l’UE de 1,9 % pour 2015,
qui devrait rester au même niveau en
2016, tandis qu’une hausse de 2 %
est prévue pour 2017.
Die Daten der Europäischen
Kommission ergeben für 2015 ein
BIP-Wachstum von 1,9 % in der
EU. Für 2016 wird eine ähnliche
Steigerungsrate erwartet, während man
für 2017 sogar von einer Erhöhung um
2,0 % ausgeht.
2015 a été la première année
depuis le début de la crise où tous
les États membres ont rapporté une
croissance de leur PIB mais des
différences majeures persistent en
termes de croissance en raison de
caractéristiques structurelles et de
positions conjoncturelles différentes.
Cela s’explique en grande partie
par une amélioration globale de la
consommation privée qui est imputable à la baisse de l’inflation et à la
lente amélioration des conditions sur
le marché de l’emploi. Toutefois, cette
évolution positive devrait quelque peu
s’essouffler en raison des prévisions
de remontée de l’inflation (+1,6 %
dans l’UE en 2017).
2015 war das erste Jahr seit Beginn
der Krise, in dem alle Mitgliedstaaten
einen Anstieg ihrer Wirtschaftsleistung
vermeldeten. Allerdings bestehen weiterhin starke Wachstumsunterschiede,
was sich durch strukturelle Merkmale
und unterschiedliche Konjunkturlagen
in den einzelnen Staaten widerspiegelt. Grund für das Wachstum ist
hauptsächlich der insgesamt stärkere
private Konsum, zurückzuführen auf
die sinkende Inflation und die sich
langsam verbessernde Lage am
Arbeitsmarkt. Diese Entwicklung
dürfte jedoch an Schwung verlieren,
wenn die Inflationsrate, wie prognostiziert, wieder ansteigt (+1,6 % in der
EU im Jahr 2017).
2015 was the first year since
the beginning of the crisis in
which all Member States reported
an increase in their output, but
substantial growth differences
persist, reflecting both structural
features and different cyclical
positions. This has been mainly
due to an overall improvement
in private consumption, which is
attributable to the fall in inflation
and the slowly improving labour
market conditions. However, such
development is expected to lose
some momentum due to the forecast increase in inflation (+1.6%
in the EU in 2017).
Weitere wirtschaftliche und politische Unsicherheitsfaktoren sind die
weitere Entwicklung und Bewältigung
von Migrationspolitik, der Ausgang
des Referendums im Vereinigten
Königreich im Juni, die geopolitische Lage im Nahen Osten sowie
der deutliche Abschwung in den
Wachstumsmärkten.
EUROPEAN UNION
VARIATION OF PRODUCTION IN REAL
TERMS ON PREVIOUS YEAR (%)
Sectors
1.
VARIATION DU VOLUME DE LA PRODUCTION
SUR L’ANNÉE PRÉCÉDENTE (%)
2007
2008
Building
2010
2011
2012
2013
2014
2015a 2016b
3.6
-0.9
-9.7
-0.5
2.6
-3.2
-1.6
2.4
2.1
2.3
2.2
-3.7
-10.6
2.4
2.8
-2.4
-1.0
4.6
2.8
3.0
1.1.1. New
-3.0
-10.5
-17.1
3.7
6.5
-4.9
-0.9
6.1
3.5
4.0
1.1.2. R&M
5.3
2.3
-3.3
1.6
1.7
0.4
-0.3
3.7
2.6
2.2
5.6
2.4
-9.2
-5.7
1.6
-4.3
-2.3
1.1
-0.5
1.4
1.2.1. Private
6.3
2.4
-12.3
1.7
2.1
-3.0
-1.8
1.5
0.3
1.6
1.2.2. Public
2.8
2.8
1.4
-1.8
-0.7
-8.7
-3.5
3.5
-2.4
1.0
1.1. Housebuilding
1.2. Non residential **
2.
2009
REALE VERÄNDERUNGSRATE IM VERGLEICH
ZUM VORJAHR (%)
Civil Engineering
(1 + 2) Total Construction *
2.4
2.4
0.3
1.3
0.4
-5.8
-1.6
-0.8
6.2
1.8
3.5
-0.5
-8.1
-0.5
2.1
-3.6
-1.6
1.7
2.4
2.1
* without : CY, CZ, EE, HR, HU, IE, LU, LV, MT, PL, SK
** incl. R&M
INVESTMENT IN CONSTRUCTION
INVESTISSEMENT DANS LA CONSTRUCTION
9
INVESTITIONEN IN BAUWESEN
104
102
100
98
96
94
92
90
88
86
84
82
GDP 2015
€ 14.605
BILLION
TOTAL
CONSTRUCTION
OUTPUT 2015
€ 1.241 BILLION
2016b
2015a
‘14
‘13
‘12
‘11
‘10
‘09
‘08
‘07
80
2007 = 100

Housebuilding - Logement - Wohnungsgebau
Non residential - Non résidentiel - Nichwohnbau
Civil Engineering - Génie Civil - Tiefbau
Total Construction - Bauwesen
EUROPEAN UNION
10
As regards public investment, an
improvement is expected mainly
because of the continuous overall
decline in the general government
deficit, albeit at a slower pace than
in recent years due to the fiscal
expenditures associated with the
arrival of asylum-seekers in some
countries, as well as to fiscal
policy measures adopted by some
Member States to lower the tax
wedge on labour.
En ce qui concerne les investissements
publics, une amélioration est attendue
principalement grâce à la diminution
continue du déficit des administrations
publiques, mais à un rythme moins soutenu qu’au cours des dernières années
à cause des dépenses fiscales liées à
l’arrivée des demandeurs d’asile dans
certains pays ainsi que des mesures de
politique fiscale adoptées par certains
États membres pour alléger la charge
fiscale sur le travail.
Bei den öffentlichen Investitionen sind
deutliche Verbesserungen zu erwarten, weil die Staatsdefizite insgesamt
kontinuierlich sinken, wenn auch
langsamer als in den vergangenen
Jahren. Grund hierfür sind Ausgaben
im Zusammenhang mit dem Zustrom
von Asylsuchenden in einigen
Ländern sowie die fiskalpolitischen
Maßnahmen einiger Mitgliedstaaten
zur Senkung der Abgabenlast bei
Löhnen und Gehältern.
Higher labour market flexibility
and moderate wage increases are
expected to contribute positively
to the development on the labour
market and the unemployment
rates are set to continue their
gradual decline over the next two
years but at a slower pace than
last year : 11% in 2015, 10.5% in
2016 and 10.2% in 2017.
Une plus grande flexibilité du marché de
l’emploi et des hausses salariales modérées devraient contribuer positivement
au développement du marché de l’emploi et les taux de chômage devraient
poursuivre leur baisse progressive au
cours des deux prochaines années mais
à un rythme moins soutenu que l’année
passée : 11 % en 2015, 10,5 % en
2016 et 10,2 % en 2017.
Größere Flexibilität am Arbeitsmarkt
und moderate Lohnerhöhungen
sollen einen positiven Beitrag zur
Entwicklung am Arbeitsmarkt leisten.
Die Arbeitslosenquoten werden im
Laufe der kommenden zwei Jahre
demnach weiterhin schrittweise
sinken, jedoch weniger schnell als
im vergangenen Jahr: 11 % in 2015,
10,5 % in 2016 und 10,2 % in 2017.
2. Overall construction activity
2. Activité globale de construction
2. Entwicklung in der Bauwirtschaft
Within this framework the overall
construction output in the EU in
2015 amounted to € 1.241 billion
Euro, which represented 8.5% of
the GDP.
Dans ce contexte, la production de
l’activité globale de construction dans
l’UE s’est élevée en 2015 à 1.241
milliards €, ce qui représente 8,5%
du PIB.
Vor diesem Hintergrund lag das
Gesamtergebnis der Bauwirtschaft in
der EU im Jahr 2015 bei 1.241 Mrd.
Euro, ein Anteil von 8.5 % am BIP.
The recovery observed in 2014
(+1.7%) continued and strengthened in 2015 (+2.4%), thanks
to a high level of activity in civil
engineering (+6.2%) and in new
housebuilding (+3.5%). However,
the non-residential sector
remained weak (-0.5%) both in its
private (+0.3%) and in particular
in the public (-2.4%) component.
La reprise observée en 2014
(+1,7 %) s’est poursuivie et renforcée en 2015 (+2,4 %), grâce à un
niveau d’activité élevé dans le génie
civil (+6,2 %) et la construction
résidentielle (+3,5 %). L’activité dans
le secteur non résidentiel est par
contre restée faible (-0,5 %), dans
sa composante privée (+0,3 %) mais
surtout dans sa composante publique
(-2,4 %).
Behind this overall picture the
situations vary significantly
from one country to the other.
Increases in construction activity
in 2015 were recorded in Ireland
(+8.3%), where the positive
trend that started in 2013 will be
even further reinforced in 2016
(+16%), in the Netherlands
(+7.2%), thanks to a strong level
of activity in the new housebuilding sector, as in Sweden (+10%),
in Poland (+5.9%), Portugal
Derrière cette vision globale, les
situations varient énormément d’un
pays à l’autre. Une hausse de l’activité
de la construction en 2015 a été
observée en Irlande (+8,3 %), où la
tendance positive qui s’est profilée en
2013 sera encore renforcée en 2016
(+16 %), aux Pays-Bas (+7,2 %),
grâce à un niveau élevé d’activité dans
le secteur de la construction résidentielle, ainsi qu’en Suède (+10 %),
en Pologne (+5,9 %), au Portugal
Die Erholung aus dem Jahr 2014
(+1,7 %) setzte sich im Jahr 2015
verstärkt fort (+2,4 %), dank hoher
Aktivität im Tiefbau (+6,2 %) und
im Wohnungsneubau (+3,5 %).
Im Wirtschaftsbau blieb die
Entwicklung mit -0,5 % jedoch
schwach, sowohl im privaten
(+0,3 %) als auch insbesondere im
öffentlichen Bereich (-2,4 %).
Im Ländervergleich zeichnen sich
in Abgrenzung zur Gesamtlage zum
Teil sehr unterschiedliche Bilder ab.
Zuwächse bei der Bautätigkeit wurden
2015 verzeichnet in Irland (+8,3 %),
wo der positive Trend 2013 einsetzte
und 2016 noch stärker ausfallen
wird (+16 %); in den Niederlanden
(+7,2 %) dank der starken
Entwicklung im Wohnungsneubau;
wie auch in Schweden (+10 %); in
Polen (+5,9 %); in Portugal (+3 %);
in Rumänien (+10 %), wobei die
Entwicklung in Rumänien vor allem
EUROPEAN UNION
VALEUR AJOUTEE BRUTE - CONSTRUCTION
/ TOTAL ECONOMIE
Country
2014
(1) Constr.
United Kingdom
Germany
France
Italy
Spain
Poland
Netherlands
Sweden
Belgium
Austria
Finland
Romania
Denmark
Czech Republic
Portugal
Slovakia
Ireland
Greece
Hungary
Luxembourg
Lithuania
Croatia
Bulgaria
Latvia
Estonia
Slovenia
Cyprus
Malta
EU28
Switzerland
Norway
Turkey
CONSTRUCTION INVESTMENT/GDP
124.8
120.7
108.3
71.4
51.4
27.1
26.9
23.0
20.3
18.7
11.0
10.7
10.3
7.8
6.8
5.7
5.0
4.6
3.8
2.5
2.5
1.8
1.6
1.4
1.1
1.8
0.4
0.3
672
27.3
19.4
Current prices in Bln. €
(2) Total economy
2,008
2,623
1,910
1,449
948
365
597
381
358
293
177
133
225
140
152
69
171
157
88
44
33
36
37
21
17
32
16
7
12,487
512
338
INVESTISSEMENT CONSTRUCTION/PIB
Country
6.2%
4.6%
5.7%
4.9%
5.4%
7.4%
4.5%
6.0%
5.7%
6.4%
6.2%
8.1%
4.6%
5.6%
4.5%
8.3%
2.9%
2.9%
4.3%
5.7%
7.6%
5.0%
4.3%
6.7%
6.3%
5.6%
2.5%
4.2%
5.4%
5.3%
5.7%
Current prices in Bln. €
(2) GDP
297
163
160
129
101
63
57
51
42
33
29
23
17
13
11
9
8
7
7
6
4
2
2
2
2
2
1
1
1,241
58
58
57
%
(1)/(2)
BAUINVESTITIONEN/BIP
2015a
(1) Constr.
Germany
United Kingdom
France
Italy
Spain
Sweden
Netherlands
Poland
Belgium
Austria
Finland
Denmark
Czech Republic
Ireland
Portugal
Romania
Greece
Bulgaria
Hungary
Slovakia
Luxembourg
Lithuania
Croatia
Latvia
Estonia
Slovenia
Cyprus
Malta
EU28
Switzerland
Turkey
Norway
BRUTTOWERTSCHÖPFUNG - BAUGEWERBE
/ GESAMTWIRTSCHAFT
(1)/(2)
3,026
2,577
2,160
1,636
1,081
435
678
445
410
338
206
267
162
199
179
155
176
44
109
78
53
37
44
25
20
39
17
9
14,605
582
646
410
9.8%
6.3%
7.4%
7.9%
9.3%
14.5%
8.4%
11.5%
10.2%
9.8%
14.1%
8.6%
10.5%
6.5%
6.1%
5.8%
4.5%
15.9%
6.4%
7.7%
7.5%
5.4%
4.5%
8.0%
10.0%
5.1%
2.9%
5.6%
8.5%
10.0%
9.0%
13.9%
NB: The absolute value figures concerning the total volume of construction are given for guidance only and are provisional. The reason for this is that in the various countries
these figures are not necessarily calculated on the same basis.
11
GROSS VALUE ADDED - CONSTRUCTION /
TOTAL ECONOMY
EUROPEAN UNION
12
(+3%), Romania (+10%), the
latter mainly supported by the civil
engineering sector, and in Spain
(+5.6%), the first increase since
the beginning of the crisis in
2008. In the United Kingdom the
sector also performed particularly
well (+8.5%) driven by a remarkable increase in civil engineering
(+34%).
(+3 %), en Roumanie (+10 %), où
l’activité est principalement soutenue
par le secteur du génie civil, et en
Espagne (+5,6 %), qui connaît la
première hausse depuis le début de
la crise en 2008. Au Royaume-Uni,
le secteur a aussi enregistré des
résultats positifs (+8,5 %) soutenus
par une remarquable progression du
génie civil (+34 %).
In Austria (+0.2%) and Germany
(+0.2%) the overall level of activity remained more or less stable
compared to the previous year,
whilst several other countries
recorded a negative trend. It is
the case of Bulgaria (-0.7%),
Estonia (-7.5%) and Greece
(-15.1%), due to a decrease in
civil engineering; Finland (-1%)
and Italy (-1.3%), due to a drop
in new housebuilding; France
(-3.3%), due to a lack of public
investment in particular in the
non-residential sector; Lithuania
(-5.2%) and Slovenia (-6.5%)
where both new housebuilding
and civil engineering declined.
En Autriche (+0,2 %) et en Allemagne
(+0,2 %), le niveau d’activité global est
resté plus ou moins stable par rapport
à l’année précédente, tandis que
plusieurs autres pays ont enregistré
une évolution négative. C’est le cas
de la Bulgarie (-0,7 %), de l’Estonie
(-7,5 %) et de la Grèce (-15,1 %), en
raison d’une baisse d’activité dans le
génie civil ; de la Finlande (-1 %) et de
l’Italie (-1,3 %), suite à un recul dans la
construction résidentielle ; de la France
(-3,3 %), à cause d’un manque d’investissements publics, dans le secteur non
résidentiel en particulier ; de la Lituanie
(-5,2 %) et de la Slovénie (-6,5 %) où
la construction résidentielle et le génie
civil ont tous deux connu une baisse.
The economic and political
uncertainties within the EU and at
the international level mentioned
above are having an impact on the
forecast for 2016 with a level of
construction activity expected to
continue its recovery (+2.1%), but
at a slower pace. All the sub-sectors should show an increase, but
with a strong slowdown for civil
engineering (+1.8%) compared
to 2015 (+6.2%). The main driver
should remain the new housebuilding sector (+4.0) thanks
to the low level of interest rates
and of mortgage rates, as well
as improvements expected on
the labour market and rising real
disposable income. However, the
high levels of household debts
in some Member States will
continue to prevent a stronger
increase in construction investment in 2016.
Les incertitudes économiques et
politiques au sein de l’UE et à l’échelle
internationale mentionnées plus haut
ont eu un impact sur les prévisions
pour 2016 qui indiquent que l’activité
de la construction devrait poursuivre
sa reprise (+2,1 %), mais à un rythme
plus lent. Tous les sous-secteurs
devraient enregistrer une progression,
mais avec un fort ralentissement pour
le génie civil (+1,8 %) par rapport à
2015 (+6,2 %). Le principal moteur
de croissance devrait rester le secteur
de la construction résidentielle (+4%)
grâce au faible niveau des taux d’intérêt et des taux hypothécaires ainsi
qu’aux améliorations attendues sur le
marché de l’emploi et à l’augmentation
du revenu réel disponible. Toutefois,
les niveaux d’endettement élevés des
ménages dans certains États membres
continueront à empêcher une augmentation plus forte des investissements
en construction en 2016.
durch den Tiefbau getragen wurde;
sowie in Spanien (+5,6 %), wo erstes
Wachstum seit Beginn der Krise im
Jahr 2008 verzeichnet wurde. Auch
im Vereinigten Königreich entwickelte
sich die Branche besonders gut
(+8,5 %). Zurückzuführen war dies vor
allem auf bemerkenswerte Zuwächse
im Tiefbau (+34 %).
In Österreich (+0,2 %) und
Deutschland (+0,2 %) stagnierte
die Bautätigkeit insgesamt im
Vergleich zum Vorjahr weitgehend,
während mehrere andere Länder
negative Entwicklungen verzeichneten. Dies war der Fall in Bulgarien
(-0,7 %), Estland (-7,5 %) und
Griechenland (-15,1 %), aufgrund
eines Rückgangs im Tiefbau; in
Finnland (-1 %) und Italien (-1,3 %),
aufgrund von Rückgängen im
Wohnungsneubau; in Frankreich
(-3,3 %), aufgrund fehlender öffentlicher Investitionen vor allem im
Wirtschaftsbau; in Litauen (-5,2 %)
und Slowenien (-6,5 %), wo sich
sowohl der Wohnungsneubau
als auch der Tiefbau negativ
entwickelten.
Die bereits erwähnten wirtschaftlichen und politischen
Unwägbarkeiten innerhalb der
EU und auf internationaler Ebene
wirken sich auf die Prognose für
2016 aus. Die Bautätigkeit bleibt
demnach weiterhin im Aufschwung
(+2,1 %), jedoch in langsamerem Tempo. Alle Sektoren der
Branche dürften zulegen, allerdings mit einem stark gebremsten
Wachstum im Tiefbau (+1,8 %) im
Vergleich zu 2015 (+6,2 %). Der
Wohnungsneubau (+4,0 %) dürfte
weiterhin Hauptimpulsgeber sein,
dank des niedrigen Zinsniveaus und
niedriger Hypothekenzinsen sowie
der erwarteten Verbesserungen am
Arbeitsmarkt und des steigenden
verfügbaren Realeinkommens. Die
hohe Verschuldung der öffentlichen
Haushalte in einigen Mitgliedstaaten
wird jedoch 2016 einer stärkeren
Ausweitung der Bauinvestitionen
weiterhin im Wege stehen.
EUROPEAN UNION
TOTAL CONSTRUCTION
BAUWESEN
production
(Mln, € fixed prices)
Country
2015a
Per cent variation of production in real terms on previous year
2012
2013
2014
2015a
2016b
AT
Austria
32,914
2.5
-2.1
-1.0
0.2
BE
Belgium
37,012
1.1
-1.1
2.7
1.3
1.0
1.3
BG
Bulgaria
6,628
1.5
-6.4
17.5
-0.7
NA
CZ
Czech Rep.
15,660
-3.8
-11.5
2.1
-5.5
NA
DE
Germany
262,850
0.5
-1.1
2.9
0.2
1.5
DK
Denmark
21,833
-0.6
-0.7
1.6
1.7
1.1
EE
Estonia
1,774
17.9
3.2
-2.1
-7.5
NA
ES
Spain
111,488
-10.5
-9.5
-1.7
5.6
4.6
FI
Finland
25,621
-4.5
-3.2
-3.6
-1.0
2.5
FR
France
152,822
-1.7
-0.9
-5.1
-3.3
0.0
GR
Greece
8,120
-16.3
-16.7
-17.9
-15.1
-17.0
IE
Ireland
16.0
IT
Italy
LT
Lithuania
NL
PL
11,907
-1.7
2.5
9.9
8.3
119,590
-7.6
-7.0
-5.2
-1.3
1.0
2,082
-7.5
11.3
16.7
-5.2
NA
Netherlands
57,450
-8.8
-5.1
1.5
7.2
4.5
Poland
53,600
-0.9
-5.5
17.1
5.9
5.0
PT
Portugal
11,048
-15.5
-15.0
-4.5
3.0
2.5
RO
Romania
24,691
0.1
10.3
0.4
10.0
5.1
SE
Sweden
57,724
-0.3
-1.3
15.1
10.0
4.1
SI
Slovenia
1,621
32.8
-3.9
12.8
-7.3
-18.8
NA
UK
United Kingdom
EU
European Union
185,802
-5.1
5.2
9.9
NA
1,202,239
-3.6
-1.6
1.7
2.4
CH
2.1
Switzerland
55,760
5.5
5.6
-2.3
-2.8
-0.8
NO
Norway
48,943
5.9
0.7
1.7
2.3
4.2
BUILDING
BÂTIMENT
HOCHBAU
production
Country
2015a
2012
2013
2014
2015a
2016b
AT
Austria
26,016
2.9
-1.7
-1.7
0.3
BE
Belgium
30,166
-0.4
-0.4
2.1
1.0
1.1
1.6
BG
Bulgaria
2,436
-0.2
-7.7
-0.9
-0.1
NA
CZ
Czech Rep.
9,730
-1.0
-6.0
7.5
-5.4
NA
DE
Germany
225,850
1.2
-1.2
2.5
0.4
1.3
DK
Denmark
14,678
-3.0
-2.2
3.6
0.2
2.9
EE
Estonia
1,136
22.0
3.6
3.4
-6.4
NA
ES
Spain
90,336
-5.2
-5.3
-0.7
6.3
5.7
FI
Finland
18,718
-5.9
-4.7
-4.1
-0.9
3.4
FR
France
117,637
-1.4
-2.3
-4.8
-3.0
0.9
GR
Greece
1,396
-38.0
-31.1
-53.3
-26.9
NA
IE
Ireland
19.9
IT
Italy
LT
Lithuania
NL
PL
PT
8,610
0.5
5.0
10.4
10.1
105,155
-7.1
-6.7
-5.2
-1.4
0.3
1,134
-6.8
15.3
23.7
2.9
NA
Netherlands
43,450
-9.0
-5.2
1.1
8.7
5.3
Poland
35,500
-0.3
-1.0
16.2
5.0
1.4
Portugal
5,571
-16.0
-15.9
-7.8
5.0
3.5
RO
Romania
9,715
-10.5
4.3
40.4
-2.5
5.0
SE
Sweden
34,494
-3.5
-0.7
18.8
16.0
0.5
SI
Slovenia
580
34.6
-13.4
-10.6
-2.9
-26.2
NA
UK
United Kingdom
163,316
-4.7
4.9
11.5
5.7
EU
European Union
945,623
-3.2
-1.6
2.4
2.1
2.3
CH
Switzerland
43,724
4.7
7.3
-2.5
-3.0
-1.0
NO
Norway
34,804
4.4
-0.7
-0.3
1.7
1.4
13
TOTAL CONSTRUCTION
In a medium term perspective, the
Investment Plan for Europe (also
known as the “Juncker Plan”),
which is expected to mobilise
investments of at least €315 billion over three years, until 2017,
should show a positive impact on
public and private investment and
therefore also on construction
activity over the next few years.
Dans une perspective à moyen terme,
le Plan d’investissement pour l’Europe (aussi connu sous le nom de «
Plan Juncker »), qui devrait mobiliser
des investissements d’au moins 315
milliards € sur trois ans, jusqu’en 2017,
devrait avoir un impact positif sur les
investissements publics et privés et,
dès lors aussi, sur l’activité de construction au cours des prochaines années.
Mittelfristig sollte sich in den
kommenden Jahren aus der
Investitionsoffensive für Europa (auch
bekannt als „Juncker-Plan“) eine
positive Wirkung für öffentliche und
private Investitionen und damit auch
für die Bautätigkeit ergeben. Es wird
erwartet, dass der Plan über drei
Jahre hinweg mindestens 315 Mrd.
Euro an Investitionen „freisetzen“ wird.
3. New housebuilding
3. Construction résidentielle neuve
3. Wohnungsneubau
14
The historically low level of interest and mortgage rates continue
to support new housebuilding,
although the increase observed
in 2015 (+3.5%) was below the
one of 2014 (+6.1%). It remains
an important engine of the overall
construction activity in several
Member States and a further
increase of 4.0% is expected for
2016.
Le niveau historiquement bas des
taux d’intérêt bancaires et hypothécaires continue de soutenir
la construction résidentielle bien
que la hausse observée en 2015
(+3,5 %) ait été inférieure à celle
de 2014 (+6,1 %). Ce secteur reste
néanmoins un moteur important de
l’activité globale de construction
dans plusieurs États membres et une
nouvelle hausse de 4 % est attendue
pour 2016.
Das historisch niedrige Niveau
von Zinsen und Hypothekenzinsen
erweist sich weiterhin als Stütze für
den Wohnungsneubau, auch wenn
dessen Wachstum 2015 mit +3,5 %
schwächer ausfiel als 2014 (+6,1 %).
Damit bleibt der Wohnungsneubau ein
wichtiger Motor der Gesamtbautätigkeit
in mehreren Mitgliedstaaten. Für 2016
wird ein weiteres Wachstum von 4,0 %
prognostiziert.
EUROPEAN UNION
In 2015 good levels of activity
have been observed in Germany
(+5.0%), where residential
construction represents approximately 60% of total construction
output, in Ireland (+10.4%),
due to projections of significant
increases of population, in the
Netherlands (+23%), amongst
others because of a strong inflow
of asylum seekers for whom
dwellings are needed, in Poland
(+6.6%), in Spain (+6.5%), where
it compensated the slower growth
of civil engineering and of public
investment in general, in Sweden
(+23.8%) and in the United
Kingdom (+6.5%).
At the same time other countries recorded a more or less
unchanged level of activity, such
as in Austria (-0.5%), Bulgaria
(+0.1%) and Denmark (+0.6%),
where an increase is expected
for 2016 (+3.8%). Others had to
face sometimes a strong decline
which is the case of France
(-3.9%) and Finland (-3.0%), but
En 2015, de bons niveaux d’activité
ont été observés en Allemagne
(+5 %), où la construction résidentielle représente près de 60 % de la
production totale de la construction,
en Irlande (+10,4 %), en raison de
projections de hausses importantes
de la population, aux Pays-Bas
(+23 %), notamment à cause d’un
afflux important de demandeurs
d’asile qui auront besoin de logements, en Pologne (+6,6 %), en
Espagne (+6,5 %), où le secteur
a compensé le ralentissement de
la croissance du génie civil et des
investissements publics en général,
en Suède (+23,8 %) et au RoyaumeUni (+6,5 %).
Au même moment, d’autres pays ont
enregistré un niveau d’activité plus ou
moins inchangé ; c’est le cas de l’Autriche (0,5 %), de la Bulgarie (+0,1 %)
et du Danemark (+0,6 %), où une
croissance est attendue pour 2016
(+3,8 %). D’autres pays ont parfois dû
faire face à un net recul de l’activité :
c’est le cas de la France (-3,9 %) et de
2015 verzeichnete der
Wohnungsneubau eine gute
Entwicklung in Deutschland (+5,0 %),
wo der Wohnungsbau rund 60 % der
gesamten Bautätigkeit ausmacht;
in Irland (+10,4 %), aufgrund von
Prognosen für eine starke Zunahme der
Bevölkerungszahl; in den Niederlanden
(+23 %), unter anderem wegen des
starken Zustroms von Asylsuchenden,
für die Wohnraum benötigt wird; in
Polen (+6,6 %); in Spanien (+6,5 %),
wo der Wohnungsneubau das verlangsamte Wachstum im Tiefbau
und der öffentlichen Investitionen
im Allgemeinen kompensierte;
in Schweden (+23,8 %) und im
Vereinigten Königreich (+6,5 %).
Zugleich stagnierte der Sektor in anderen
Ländern mehr oder weniger, beispielsweise in Österreich (-0,5 %), Bulgarien
(+0,1 %) und Dänemark (+0,6 %), wo
allerdings für 2016 eine Steigerung prognostiziert wird (+3,8 %) Andere Länder
hatten mit einer teils stark rückläufigen
Entwicklung im Wohnungsneubau
zu kämpfen, so Frankreich (-3,9 %)
und Finnland (-3,0 %), wobei jedoch
EUROPEAN UNION
LOGEMENT
WOHNUNGSBAU
production
Country
2015a
2012
2013
2014
2015a
2016b
AT
Austria
15,404
3.9
-1.5
-1.4
-0.2
1.0
BE
Belgium
16,936
-3.7
-1.7
6.7
3.0
-1.6
BG
Bulgaria
CZ
Czech Rep.
830
-16.5
-4.3
-0.4
1.5
NA
2,500
1.0
-13.2
7.2
-15.5
DE
NA
Germany
157,750
3.4
-0.7
3.3
1.5
2.0
DK
Denmark
8,961
-5.1
-2.9
3.7
0.6
3.1
EE
Estonia
NA
17.7
11.5
24.1
NA
NA
ES
Spain
56,255
-6.2
-5.6
-1.1
7.6
6.7
FI
Finland
10,864
-3.6
-3.3
-5.6
1.8
4.4
FR
France
71,565
-2.0
-2.4
-5.9
-1.8
3.0
GR
Greece
NA
NA
NA
NA
NA
NA
IE
Ireland
IT
Italy
LT
Lithuania
NL
5,612
-8.7
-0.9
12.7
10.4
19.9
63,110
-4.4
-3.7
-4.1
-1.4
-0.1
354
17.3
13.2
50.2
36.5
NA
Netherlands
23,250
-11.6
-7.3
0.6
15.2
6.5
PL
Poland
11,600
16.3
0.0
3.7
4.5
4.3
PT
Portugal
2,611
-20.0
-18.0
-10.0
5.0
4.0
RO
Romania
4,733
-2.5
-13.2
63.4
-2.5
5.0
SE
Sweden
17,981
-11.8
0.9
19.8
16.7
7.6
SI
Slovenia
160
37.8
-9.7
-10.4
-10.7
-28.4
NA
UK
United Kingdom
EU
European Union
65,368
-1.7
7.4
20.2
3.6
535,845
-2.4
-1.0
4.6
2.8
CH
3.0
Switzerland
26,298
3.7
6.6
-1.9
-4.0
-1.0
NO
Norway
15,972
6.5
2.8
-4.4
1.8
2.7
NEW HOUSEBUILDING
LOGEMENT NEUF
WOHNUNGSNEUBAU
production
Country
2015a
2012
2013
2014
2015a
2016b
AT
Austria
10,628
4.5
-1.7
-1.5
-0.5
1.0
BE
Belgium
7,192
-3.3
-1.6
11.9
3.0
-7.5
BG
Bulgaria
CZ
Czech Rep.
672
-18.7
-5.9
-2.5
0.1
NA
1,890
48.9
-12.5
-18.0
-6.0
DE
NA
Germany
50,000
5.1
4.9
8.4
5.0
5.0
DK
Denmark
1,930
-19.1
-11.1
-2.2
0.6
3.8
EE
Estonia
NA
19.1
4.5
63.3
NA
NA
ES
Spain
33,970
-7.5
-7.0
-1.5
6.5
6.5
FI
Finland
4,454
-9.6
-9.6
-11.6
-3.0
5.0
FR
France
31,135
-3.4
-3.5
-11.5
-3.9
5.5
GR
Greece
NA
NA
NA
NA
NA
NA
IE
Ireland
IT
Italy
LT
Lithuania
NL
Netherlands
PL
Poland
8,100
17.2
PT
Portugal
1,671
-23.4
RO
Romania
2,905
-5.2
SE
Sweden
9,566
SI
Slovenia
UK
United Kingdom
EU
European Union
CH
NO
2,430
-6.1
2.3
28.0
13.3
37.7
19,837
-11.1
-13.4
-13.9
-6.0
-3.5
161
-1.3
41.2
47.7
-16.7
NA
10,500
-16.8
-12.3
-4.5
23.2
13.3
-1.3
2.7
6.6
4.9
-23.3
-19.9
3.4
2.4
-24.7
75.5
-2.5
5.0
-21.1
10.4
33.7
23.8
12.8
80
9.8
-19.8
-12.5
-10.7
-30.0
35,954
-4.9
10.8
32.1
6.5
NA
233,077
-4.9
-0.9
6.1
3.5
4.0
Switzerland
19,250
3.9
6.3
-1.8
-3.1
-1.5
Norway
10,613
7.2
4.1
-7.8
1.2
3.3
15
HOUSEBUILDING
EUROPEAN UNION
16
in both countries the perspectives
for 2016 are good (+5.5% in
France and +5.0%), as well as in
Italy (-6.0%), where the number of construction permits has
been steadily declining over the
last decade, Lithuania (-16.7%),
Romania (-2.5%) and Slovenia
(-9.9%), amongst others because
of the absence of long-term state
housebuilding policy.
la Finlande (-3 %), mais dans ces deux
pays, les perspectives pour 2016 sont
bonnes (+5,5 % en France et +5 %),
ainsi que de l’Italie (-6 %), où le nombre
de permis de bâtir n’a cessé de diminuer au cours de la dernière décennie,
la Lituanie (-16,7 %), la Roumanie
(-2,5 %) et la Slovénie (-9,9 %), notamment à cause de l’absence de politique
à long terme en matière de construction résidentielle.
die Aussichten für 2016 in beiden
Ländern gut sind (+5,5 % in Frankreich
und +5,0 % in Finnland); außerdem
Italien (-6,0 %), wo die Zahl erteilter
Baugenehmigungen im Laufe der
vergangenen zehn Jahre kontinuierlich gesunken ist; Litauen (-16,7 %),
Rumänien (-2,5 %) und Slowenien
(-9,9 %), unter anderem wegen einer
fehlenden langfristig ausgerichteten
staatlichen Wohnungsbaupolitik.
4. Rehabilitation and maintenance
4. Réhabilitation et maintenance
4. Modernisierung und Instandhaltung
Rehabilitation and maintenance
activity maintained at a relatively
stable development before and
throughout the crisis, thereby
playing an important cushioning
effect for the entire construction
sector. This trend is expected
to continue in the near future.
In 2015, R&M activities grew by
2.6%, reflecting growth in this
segment in the majority of EU
countries. A further increase of
2.2% is expected in 2016.
L’activité de réhabilitation et de maintenance a enregistré une évolution
relativement stable avant et pendant la
crise, jouant ainsi un rôle d’amortisseur
important pour tout le secteur de la
construction. Cette tendance devrait
se poursuivre dans un avenir proche.
En 2015, les activités de R&M ont
augmenté de 2,6 %, ce qui reflète une
progression de ce segment dans la
majorité des pays de l’UE. Une augmentation supplémentaire de 2,2 % est
prévue en 2016.
Das Segment Modernisierung und
Instandhaltung entwickelte sich vor und
während der Krise relativ stabil und hatte
damit eine erhebliche stützende Wirkung
für die Bauwirtschaft insgesamt. Diese
Entwicklung soll sich in naher Zukunft
entsprechend fortsetzen. Im Jahr 2015
ist der Anteil des Modernisierungs- und
Instandhaltungssegments um 2,6 %
gestiegen, was ein Wachstum dieses
Sektors in den meisten EU-Staaten
widerspiegelt. Für 2016 wird ein zusätzliches Plus von 2,2 % erwartet.
In 2015 this segment has
developed positively in Belgium
(+3.0%), Bulgaria (+8.2%),
thanks to significant investments
in energy efficiency works,
Finland (+5.5%), thanks to public
incentives, Germany (+5.0),
Ireland (+8.3%), Netherlands
(+9.4%), where it has been
strongly supported by the low
VAT rate for housing renovation
which however will now expire
and significantly slow down the
activity in this segment in 2016
(+0.8), Portugal (+8.0%), Spain
(+9.4%), supported by improving
household income and confidence
levels, and in Sweden (+11.6%),
where the less favourable tax
deduction scheme for renovation
works that entered into force at
the beginning of 2016 will slow
down the growth (+0.7%).
En 2015, ce segment a connu une
évolution positive en Belgique (+3 %),
en Bulgarie (+8,2 %), grâce à des
investissements importants dans des
travaux en matière d’efficacité énergétique, en Finlande (+5,5 %), grâce aux
aides publiques, en Allemagne (+5),
en Irlande (+8,3 %), aux Pays-Bas
(+9,4 %), où l’activité a été fortement
soutenue par le faible taux de TVA pour
les rénovations de logements, lequel
arrive toutefois à expiration et risque
de ralentir considérablement l’activité
dans ce segment en 2016 (+0,8 %),
au Portugal (+8 %), en Espagne
(+9,4 %), où l’activité est soutenue
pour une amélioration des revenus des
ménages et des niveaux de confiance,
et en Suède (+11,6 %), où le système
de déduction fiscale moins favorable
pour les travaux de rénovation qui est
entré en vigueur début 2016 devrait
ralentir la croissance (+0,7 %).
2015 entwickelte sich das Segment
positiv in Belgien (+3,0 %); Bulgarien
(+8,2 %), dank umfassender
Investitionen in Baumaßnahmen
zur Förderung der Energieeffizienz;
Finnland (+5,5 %), dank öffentlicher Anreize; Deutschland (+5,0 %);
Irland (+8,3 %); den Niederlanden
(+9,4 %), wo der niedrige MwSt.Satz für Renovierungsmaßnahmen im
Bereich Wohnraum eine beflügelnde
Wirkung zeigte (+0,8 %) (dieser läuft
nun allerdings aus und dürfte das
Wachstum in diesem Segment 2016
erheblich bremsen); Portugal (+8,0 %);
Spanien (+9,4 %), getragen von steigenden Einkommen und wachsendem
Vertrauen der privaten Haushalte; und
in Schweden (+11,6 %), wo allerdings
die Anfang 2016 in Kraft getretene
weniger günstige Steuerabzugsregelung
für Renovierungsarbeiten das Wachstum
künftig bremsen dürfte (+0,7 %).
In contrast, in 2015 R&M activities declined in France and more
sharply in Romania and Slovenia
Par contre, en 2015, les activités de
R&M ont connu une baisse en France
et une chute encore plus marquée en
Hingegen verzeichnete das Segment
im Jahr 2015 Rückgänge in Frankreich
sowie – in wesentlich schärferem
EUROPEAN UNION
RÉHABILITATION & MAINTENANCE
production
Country
2015a
RENOVIERUNG & UNTERHALTUNG
2012
2013
2014
2015a
2016b
AT
Austria
4,775
2.5
-0.9
-1.1
0.6
BE
Belgium
9,744
-3.9
-1.8
3.2
2.9
0.9
2.7
BG
Bulgaria
159
-0.8
4.7
10.5
8.2
NA
CZ
Czech Rep.
610
-70.1
-18.4
206.5
-35.8
NA
DE
Germany
107,750
2.8
-2.9
1.2
0.0
0.6
DK
Denmark
7,031
0.8
-0.2
5.4
0.6
3.0
EE
Estonia
NA
16.8
16.7
-2.6
NA
NA
ES
Spain
22,285
-4.0
-3.4
-0.4
9.4
6.9
FI
Finland
6,410
3.1
2.8
-0.6
5.5
4.0
FR
France
40,430
-0.7
-1.3
-0.9
-0.2
1.0
GR
Greece
NA
NA
NA
NA
NA
NA
IE
Ireland
6.3
IT
Italy
LT
Lithuania
NL
Netherlands
PL
Poland
PT
3,183
-10.1
-2.7
3.7
8.3
43,273
0.8
2.9
1.5
0.8
1.5
193
65.5
-30.1
58.0
191.8
NA
12,750
-6.3
-2.8
4.7
9.4
0.8
3,500
14.3
3.1
6.1
0.0
2.9
Portugal
940
-4.9
0.6
16.7
8.0
6.9
RO
Romania
1,828
3.5
9.3
47.2
-2.5
5.0
SE
Sweden
6,750
-3.3
-5.9
10.0
11.6
0.7
SI
Slovenia
79
112.4
4.2
-8.2
-10.7
-26.7
NA
UK
United Kingdom
EU
European Union
29,414
1.3
4.3
8.9
0.3
301,105
0.4
-0.3
3.7
2.6
CH
2.2
Switzerland
7,048
2.9
7.4
-2.3
-6.5
0.5
NO
Norway
5,359
5.1
0.1
3.2
3.0
1.5
NON RESIDENTIAL
NON RÉSIDENTIEL
NICHTWOHNBAU
production
Country
2015a
2012
2013
2014
2015a
2016b
AT
Austria
10,613
1.5
-2.0
-2.1
0.9
BE
Belgium
13,231
3.8
1.1
-2.9
-1.5
1.3
5.7
BG
Bulgaria
1,606
10.0
-9.2
-1.2
-0.9
NA
CZ
Czech Rep.
7,230
-1.8
6.1
-1.3
-1.4
NA
DE
Germany
68,100
-3.3
-2.1
1.0
-2.2
-0.3
DK
Denmark
5,717
0.6
-1.0
3.4
-0.5
2.7
EE
Estonia
NA
23.4
1.1
-4.0
NA
NA
ES
Spain
34,080
-3.7
-4.6
-0.1
4.1
4.2
FI
Finland
7,853
-9.6
-6.5
-2.3
-0.9
2.0
FR
France
46,071
-0.5
-2.1
-3.1
-4.7
-2.3
GR
Greece
NA
NA
NA
NA
NA
NA
IE
Ireland
2,997
27.0
17.4
6.3
9.4
19.9
IT
Italy
42,045
-10.6
-10.8
-6.8
-1.2
0.9
LT
Lithuania
779
-11.2
15.8
17.3
-7.5
NA
NL
Netherlands
20,200
-6.1
-3.0
1.7
2.0
4.0
PL
Poland
23,900
-7.9
-1.6
23.4
5.3
0.0
PT
Portugal
2,959
-11.8
-13.8
-5.7
5.1
3.1
RO
Romania
4,982
-22.2
29.6
23.8
-2.5
5.0
SE
Sweden
14,992
6.7
-2.3
14.2
8.0
2.3
SI
Slovenia
410
33.3
-14.9
-10.8
-1.7
-25.5
NA
UK
United Kingdom
EU
European Union
65,458
-6.9
2.4
8.3
1.3
373,224
-4.3
-2.3
1.1
-0.5
CH
1.4
Switzerland
17,426
6.3
8.3
-3.3
-1.5
-1.0
NO
Norway
18,832
2.7
-3.7
3.5
1.6
0.3
17
REHABILITATION & MAINTENANCE
EUROPEAN UNION
18
(respectively -0.2%, -2.5% and
-9.9%). In France such development occurred despite a new
tax credit for energy renovation
and an attractive VAT reduced
rate (5.5%) for renovation works,
but can be explained by the low
energy prices.
Roumanie et en Slovénie (respectivement -0,2 %, -2,5 % et -9,9 %). En
France, cette évolution s’est produite
malgré un nouveau crédit d’impôt pour
la rénovation énergétique et un taux
de TVA réduit attractif (5,5 %) pour les
travaux de rénovation, mais elle peut
s’expliquer par la faiblesse des prix de
l’énergie.
Ausmaß – Rumänien und Slowenien
(jeweils -0,2 %, -2,5 % und -9,9 %).
Die Entwicklung in Frankreich ergab
sich trotz neuer steuerlicher Anreize für
Energieeffizienzmaßnahmen und eines
attraktiven reduzierten MwSt.-Satzes
(5,5 %) für Renovierungsarbeiten, was
sich auch durch niedrige Energiepreise
erklären lässt.
5. Non-residential buildings
5. Construction non-résidentielle
5. Nichtwohnungsbau
Contrary to all the other sub-sectors, the non-residential sector
was the only one to show a negative trend in 2015 (-0.5%), mainly
because of the decrease of its
public component (-2.4%), due to
the low level of public investment
in several Member States. The
overall situation is expected to
improve slightly in 2016 (+1.4%)
despite the fact that investors
remain hesitant with regards to
external risks (oil price decline,
economic development in China
and in other emerging economies, ongoing turbulence in the
Euro-zone).
Contrairement à tous les autres
sous-secteurs, la construction non
résidentielle a été le seul segment à
enregistrer une tendance négative en
2015 (-0,5 %), surtout à cause de la
baisse de sa composante publique
(-2,4 %) qui est due au faible niveau
d’investissements publics dans
plusieurs États membres. La situation
globale devrait s’améliorer légèrement
en 2016 (+1,4 %) malgré le fait que
les investisseurs restent circonspects
face aux risques externes (baisse des
prix du pétrole, développement économique en Chine et dans d’autres
économies divergentes, turbulences
actuelles dans la zone euro).
Im Gegensatz zu allen anderen
Sektoren entwickelte sich der
Wirtschaftsbau 2015 insgesamt negativ (-0,5 %), vor allem
wegen der negativen Entwicklung
im öffentlichen Bereich (-2,4 %)
aufgrund des niedrigen Niveaus
öffentlicher Investitionen in mehreren Mitgliedstaaten. Die Gesamtlage
soll sich laut Prognose 2016 leicht
verbessern (+1,4 %), auch wenn
Investoren wegen externer Risiken
(Ölpreisverfall, Konjunkturentwickung
in China und anderen aufstrebenden Volkswirtschaften, andauernde
Turbulenzen in der Eurozone) zurückhaltend bleiben.
The situation is however quite
contrasted amongst the various
EU countries.
La situation est toutefois relativement contrastée parmi les différents
pays de l’UE.
Allerdings präsentiert sich die Lage
in den einzelnen EU-Staaten sehr
unterschiedlich.
In 2015 the sector performed
well in Ireland (+9.4%), Portugal
(+5.1%), Spain (+4.1%) and in
Sweden (+8.0%), pulled by the private component, which in the case
of Sweden reached a double-digit
growth of 10.9%, mainly thanks
to increasing investment in the
industrial sector.
En 2015, le secteur a réalisé de
bons résultats en Irlande (+9,4 %),
au Portugal (+5,1 %), en Espagne
(+4,1 %) et en Suède (+8 %), où il a été
entraîné par la composante privée qui,
dans le cas de la Suède, a atteint une
croissance à deux chiffres de 10,9 %,
surtout grâce à la progression des investissements dans le secteur industriel.
2015 lief es für den Sektor gut in
Irland (+9,4 %), Portugal (+5,1 %),
Spanien (+4,1 %) und Schweden
(+8,0 %), beflügelt durch den privaten Bereich, in dem im Falle von
Schweden zweistellige Zuwächse
zu verzeichnen waren (+10,9 %),
vor allem dank zunehmender
Investitionen in der Industrie.
In several other Member States
a sometimes significant decline
was recorded in the public
segment. It is the case of France
(-6.5%), Germany (-2.7%),
Lithuania (-20.3%) and the
United Kingdom (-4.3%),
Dans plusieurs autres États
membres, une baisse parfois importante a été enregistrée dans le segment public. C’est le cas de la France
(-6,5 %), de l’Allemagne (-2,7 %), de
la Lituanie (-20,3 %) et du RoyaumeUni (-4,3 %).
In mehreren anderen Mitgliedstaaten
verzeichnete das öffentliche
Segment ein teils erhebliches Minus.
Dies gilt für Frankreich (-6,5 %),
Deutschland (-2,7 %), Litauen
(-20,3 %) und das Vereinigte
Königreich (-4,3 %).
EUROPEAN UNION
NON RÉSIDENTIEL PRIVÉ
NICHTWOHNBAU PRIVAT
production
Country
AT
Austria
BE
2015a
2012
2013
2014
2015a
2016b
NA
NA
NA
NA
NA
Belgium
8,622
3.8
1.1
-2.9
-1.5
NA
5.7
BG
Bulgaria
1,595
10.0
-9.2
-1.7
-0.9
NA
CZ
Czech Rep.
4,080
17.0
-28.1
3.8
13.6
NA
DE
Germany
57,150
-0.8
-2.4
1.7
-2.2
-0.4
DK
Denmark
2,552
-12.9
-3.0
0.1
-5.6
0.8
EE
Estonia
NA
NA
NA
NA
NA
NA
ES
Spain
27,483
-0.4
0.1
0.9
4.9
7.3
FI
Finland
4,995
-10.9
-14.6
-3.0
-1.5
2.5
FR
France
24,345
-0.8
-2.0
-2.6
-3.0
-1.6
GR
Greece
NA
NA
NA
NA
NA
NA
IE
Ireland
1,561
82.1
28.7
4.8
10.7
26.9
IT
Italy
33,567
-10.6
-11.2
-7.3
-1.2
-0.4
LT
Lithuania
599
0.2
13.0
20.7
-2.8
NA
NL
Netherlands
NA
NA
NA
NA
NA
NA
PL
Poland
NA
NA
NA
NA
NA
NA
PT
Portugal
1,849
-13.0
-13.0
-2.0
7.0
4.0
RO
Romania
3,841
-21.1
29.5
2.6
-2.5
5.0
SE
Sweden
10,238
7.8
-2.6
13.5
10.9
2.5
SI
Slovenia
NA
NA
NA
NA
NA
NA
UK
United Kingdom
NA
EU
European Union
CH
NO
47,896
-3.3
4.1
10.3
3.6
230,372
-3.0
-1.8
1.5
0.3
1.6
Switzerland
10,770
5.9
12.3
-3.3
-1.5
-1.0
Norway
12,022
3.0
-5.1
3.1
-2.5
-0.7
NON RESIDENTIAL PUBLIC
NON RÉSIDENTIEL PUBLIC
NICHTWOHNBAU ÖFFENTLICH
production
Country
AT
Austria
BE
2015a
2012
2013
2014
2015a
2016b
NA
NA
NA
NA
NA
Belgium
4,609
3.8
1.1
-2.9
-1.5
NA
5.7
BG
Bulgaria
11
0.0
-25.0
266.7
0.0
NA
CZ
Czech Rep.
3,150
-27.5
81.3
-5.8
-15.8
NA
DE
Germany
10,950
-14.0
-0.9
-2.9
-2.7
0.5
DK
Denmark
3,165
18.6
0.9
6.6
4.1
4.1
EE
Estonia
NA
NA
NA
NA
NA
NA
ES
Spain
6,598
-12.5
-19.1
-3.6
0.8
-8.8
FI
Finland
2,858
-6.1
4.7
3.0
3.5
1.0
FR
France
21,727
-0.2
-2.3
-3.7
-6.5
-3.1
GR
Greece
NA
NA
NA
NA
NA
NA
IE
Ireland
1,436
-0.3
7.1
7.9
8.1
12.3
IT
Italy
8,478
-10.6
-9.3
-5.1
-1.3
6.0
LT
Lithuania
180
-32.1
23.6
8.9
-20.3
NA
NL
Netherlands
NA
NA
NA
NA
NA
NA
PL
Poland
NA
NA
NA
NA
NA
NA
PT
Portugal
1,110
-10.0
-15.0
-11.0
2.0
1.5
RO
Romania
1,141
-34.7
31.2
309.1
-2.5
5.0
SE
Sweden
4,754
4.6
-1.6
15.5
2.2
2.0
SI
Slovenia
NA
NA
NA
NA
NA
NA
UK
United Kingdom
17,562
-14.1
-1.2
3.6
-4.3
NA
EU
European Union
87,729
-8.7
-3.5
3.5
-2.4
1.0
CH
Switzerland
6,655
6.8
2.5
-3.3
-1.5
-1.0
NO
Norway
6,810
1.9
-0.6
4.2
9.7
2.0
19
NON RESIDENTIAL PRIVATE
EUROPEAN UNION
20
Denmark and Finland, where
the private segment declined by
5.6% and 1.5% respectively, and
the public one increased respectively by 4.1% and 3.5%, are two
exceptions to the main trends.
Le Danemark et la Finlande, où le
segment privé a baissé respectivement de 5,6 % et 1,5 % et le segment public a augmenté de 4,1 %
et 3,5 %, sont deux exceptions aux
principales tendances observées.
Dänemark und Finnland bilden eine
Ausnahme zum allgemeinen Trend.
Hier erzielte der öffentliche Bereich
Zuwächse von 4,1 % bzw. 3,5 %,
wohingegen im privaten Bereich ein
Rückgang von 5,6 % bzw. 1,5 % zu
Buche schlug.
6. Civil engineering
6. Génie civil
6. Tiefbau
Contrary to what was forecasted in our previous report,
civil engineering activity in 2015
increased with a surprisingly
high growth rate of 6.2%, which
can be explained in large part by
the boom recorded in the United
Kingdom (+34%) and Romania
(+20%), for the latter thanks
to a higher volume of financial
resources allocated to investments and a greater volume of
European funds allocated to sectorial programmes, in particular in
roads and railway infrastructure.
Contrairement aux prévisions annoncées dans notre précédent rapport,
l’activité du génie civil en 2015 a
connu un taux de croissance étonnamment élevé de 6,2 %, ce qui peut en
grande partie s’expliquer par l’expansion enregistrée au Royaume-Uni
(+34 %) et en Roumanie (+20 %).
Dans ce dernier cas, la progression est
imputable à l’allocation de ressources
financières accrues aux investissements et à un volume plus important
de fonds européens alloués aux
programmes sectoriels, en particulier
dans les infrastructures routières et
ferroviaires.
Gegenläufig zur unserer Prognose
im letzten Bericht wuchs die
Tiefbautätigkeit im Jahr 2015 mit
einer Wachstumsrate von +6,2 %
überraschend stark. Zurückzuführen
ist dies in weiten Teilen auf den
Boom im Vereinigten Königreich
(+34 %) und in Rumänien (+20 %),
in letzterem Fall dank vermehrter finanzieller Ressourcen für
Investitionen und eines beträchtlichen Volumens von EU-Mitteln für
Tiefbaumaßnahmen, insbesondere
auf dem Gebiet der Straßen- und
Eisenbahninfrastruktur.
Civil engineering activity also
increased in several other
countries, but to a lesser extent,
such as in Belgium (+3%),
where changes in the investment cycle of local authorities
is probably approaching a peak
ahead of the forthcoming local
elections in 2018, in Denmark
(+5.1%), mainly thanks to large
projects, especially in transport infrastructure, in Ireland
(+4%), where the “Capital Plan”
provides significant funding for
investment in education facilities, as well as in health infrastructure, in energy efficiency
and renewable energy programmes and in flood mitigation
initiatives, in the Netherlands
(+2.8%), despite the lowered
contribution of the central
government and the transfer of
several tasks (healthcare, labour
market) to municipalities, in
Spain (+3%), where the electoral cycle and the loosening of
the fiscal consolidation process
L’activité du génie civil a aussi augmenté dans plusieurs autres pays,
mais dans une moindre mesure,
comme en Belgique (+3 %), où des
changements dans le cycle d’investissement des autorités locales
atteignent probablement leur apogée
en vue des prochaines élections
régionales en 2018, au Danemark
(+5,1 %), surtout grâce à de gros
projets, principalement dans les
infrastructures de transport, en Irlande
(+4 %), où le « Capital Plan » propose
un financement conséquent pour des
investissements dans des établissements d’enseignement ainsi que dans
des infrastructures de santé, dans des
programmes d’efficacité énergétique
et d’énergie renouvelable ainsi que
des initiatives pour la prévention des
inondations, aux Pays-Bas (+2,8 %),
malgré la baisse de la contribution du
gouvernement central et le transfert
de plusieurs compétences (soins
de santé, marché de l’emploi) aux
municipalités, en Espagne (+3 %), où
le cycle électoral et l’assouplissement
du processus de consolidation fiscale
Auch in einigen anderen Ländern
wuchs die Tiefbautätigkeit, allerdings in geringerem Umfang, zum
Beispiel in Belgien (+3 %), wo
Veränderungen im Investitionszyklus
der lokalen Behörden im Vorfeld
der Kommunalwahlen im Jahr
2018 einen baldigen Höhepunkt
nahelegen; in Dänemark
(+5,1 %), vor allem dank großer
Projekte insbesondere für die
Verkehrsinfrastruktur; in Irland
(+ 4 %), wo der „Capital Plan“
umfassende, vorwiegend staatliche, Mittel für Investitionen in
Bildungseinrichtungen, Programme
für mehr Energieeffizienz bzw.
zu erneuerbaren Energien und
Hochwasserschutzmaßnahmen
vorsieht; in den Niederlanden
(+2,8 %), trotz des reduzierten
Beitrags der Zentralregierung
und der Verlagerung mehrerer
Aufgabenbereiche (Gesundheit,
Arbeitsmarkt) an die Städte und
Gemeinden; in Spanien (+3 %),
wo sich der Finanzierungsrahmen
aufgrund der Wahlen und der
Lockerung des finanzpolitischen
EUROPEAN UNION
GÉNIE CIVIL
TIEFBAU
production
Country
2015a
2012
2013
2014
2015a
2016b
AT
Austria
6,897
1.0
-3.9
1.5
0.0
BE
Belgium
6,846
8.0
-4.4
5.4
3.0
0.0
BG
Bulgaria
4,192
2.8
-5.4
31.6
-1.1
NA
CZ
Czech Rep.
5,930
-7.2
-18.3
-5.7
-5.7
NA
DE
Germany
37,000
-3.5
-0.3
5.2
-1.2
2.7
DK
Denmark
7,155
4.9
2.2
-2.4
5.1
-2.7
EE
Estonia
ES
Spain
FI
0.6
638
12.2
2.6
-10.2
-9.4
NA
21,153
-24.0
-23.0
-5.5
3.0
0.0
Finland
6,903
-0.2
1.4
-2.2
-1.0
0.0
FR
France
35,185
-2.6
3.8
-6.0
-4.5
-3.0
GR
Greece
6,724
12.8
-5.9
1.3
-12.1
NA
IE
Ireland
3,297
-6.3
-3.0
8.9
4.0
5.8
IT
Italy
14,435
-10.6
-9.3
-5.1
-1.3
6.0
LT
Lithuania
949
-8.1
8.0
10.4
-13.4
NA
NL
Netherlands
14,000
-8.1
-4.7
2.4
2.8
2.1
PL
Poland
18,100
-1.8
-13.5
19.1
7.7
12.2
PT
Portugal
5,478
-15.0
-14.0
-1.0
1.0
1.5
RO
Romania
14,976
8.1
11.6
-18.2
20.0
5.2
SE
Sweden
8,213
11.7
-3.3
8.5
0.7
-0.6
SI
Slovenia
UK
United Kingdom
EU
European Union
CH
NO
1,048
31.0
5.1
30.4
-9.0
-15.2
22,486
-7.9
7.2
-2.4
34.0
NA
241,606
-5.8
-1.6
-0.8
6.2
1.8
Switzerland
12,037
8.5
0.0
-1.7
-2.0
0.0
Norway
14,139
10.3
4.5
7.0
3.7
11.3
TOTAL EMPLOYMENT IN CONSTRUCTION*
EMPLOI TOTAL DANS LA CONSTRUCTION*
Thousand units
Country
AT
BE
BG
CY
CZ
DE
DK
EE
ES
FI
FR
GR
HR
HU
IE
IT
LT
LU
LV
MT
NL
PL
PT
RO
SE
SI
SK
UK
EU28
CH
NO
TR
* NACE Section F
Austria
Belgium
Bulgaria
Cyprus
Czech Rep.
Germany
Denmark
Estonia
Spain
Finland
France
Greece
Croatia
Hungary
Ireland
Italy
Lithuania
Luxembourg
Latvia
Malta
Netherlands
Poland
Portugal
Romania
Sweden
Slovenia
Slovakia
United Kingdom
European Union
Switzerland
Norway
TR - Turkey
2015a (x1000)
264
274
183
25
415
2,431
175
42
1,074
186
1,763
145
93
272
127
1,488
105
40
64
9
452
1,140
276
417
308
54
223
2,110
14,155
327
206
1,914
GESAMTBESCHÄFTIGUNG IM BAUWESEN*
Variation on previous year
2013 (%)
-0.4
-1.0
-3.8
-26.7
-9.2
0.7
-0.5
1.4
-11.4
-1.3
-1.1
-19.2
-6.4
0.9
0.4
-8.6
10.9
NA
NA
NA
-5.7
-5.5
-19.3
3.0
-0.5
-9.7
NA
-0.5
-3.9
1.1
1.5
4.3
2014 (%)
0.3
-1.6
-0.6
-14.8
-2.3
0.6
1.5
-1.1
-3.5
-2.1
-1.9
-6.6
-3.3
5.2
12.6
-4.4
0.0
NA
NA
NA
-3.5
-0.9
-4.4
4.0
0.0
-0.4
NA
2.9
-0.8
0.5
1.5
7.3
2015a (%)
-0.5
-0.7
2.8
-0.9
9.8
-0.5
4.8
NA
8.1
-0.2
-2.3
-4.3
NA
NA
8.5
0.3
6.0
NA
NA
NA
-2.4
0.5
0.1
7.2
-0.9
0.6
NA
0.5
0.9
-0.3
3.0
0.1
2016b (%)
1.3
-1.6
3.8
NA
1.2
0.8
1.3
NA
4.5
2.2
-1.0
NA
NA
NA
NA
NA
NA
NA
NA
NA
4.0
0.9
0.9
3.2
1.2
-9.1
NA
NA
NA
-1.0
2.0
1.9
21
CIVIL ENGINEERING
EUROPEAN UNION
brought an improvement in the
financial framework but which
should nevertheless show a
stagnation or a slight fall in
2016, and in Poland (+7.7%),
where a special focus is given
to investments co-financed by
the EU.
22
ont amélioré le contexte financier
mais où l’activité devrait quand même
enregistrer une stagnation ou une
légère baisse en 2016, et en Pologne
(+7,7 %), où une attention spécifique
est accordée aux investissements
cofinancés par l’UE.
Konsolidierungsprozesses verbessert
hat, wo jedoch für 2016 dennoch
eine stagnierende oder leicht
rückläufige Entwicklung zu erwarten
ist; und in Polen (+ 7,7 %), wo ein
besonderer Schwerpunkt auf von der
EU kofinanzierten Investitionen liegt.
At the same time the sector
declined or stagnated in several
countries, mainly because of
cuts in public investment. It is the
case of Estonia (-9.4%), France
(-4.5%), which has been deeply
affected by successive expected
factors (municipal post-elections
and departmental elections) and
extraordinary measures (a significant drop in State grants to local
governments), Finland (-1%),
where the lack of long-term
planning is the greatest source
of uncertainty, Greece (-12.1%),
where the sector is expected
to decline further due to cuts in
public spending and delays in
EU funding of new infrastructure
projects, Italy (-1.3%), where an
increase of 6% is expected in
2016 thanks to some measures
contained in the Italian 2016
Budget Law which should remove
several economic and financial
obstacles that prevented the
carrying out of public works in
Italy over the last years, Lithuania
(-13.4%) and Slovenia (-8.2%),
where a further reduction of
already extremely low investment
activity in national road network
reconstruction is expected.
En même temps, le secteur a connu
un déclin ou une stagnation dans plusieurs pays, surtout à cause de coupes
dans les investissements publics.
C’est le cas de l’Estonie (-9,4 %), de
la France (-4,5 %), qui a été profondément touchée par plusieurs facteurs
successifs attendus (post-élections
municipales et élections départementales) et des mesures extraordinaires
(une baisse importante des subventions de l’État aux gouvernements
locaux), de la Finlande (-1 %), où
le manque de planification à long
terme constitue la plus grande source
d’incertitude, de la Grèce (-12,1 %), où
le secteur devrait poursuivre son déclin
à cause de coupes dans les dépenses
publiques et des retards dans le financement européen de nouveaux projets
d’infrastructure, de l’Italie (-1,3 %), où
une croissance de 6 % est attendue
en 2016 grâce à certaines mesures
adoptées dans la loi italienne sur le
budget 2016 qui devrait supprimer
plusieurs obstacles économiques et
financiers qui empêchaient la réalisation de travaux publics dans le pays
au cours de ces dernières années, de
la Lituanie (-13,4 %) et de la Slovénie
(-8,2 %), où il faut s’attendre à une
nouvelle baisse du niveau déjà très bas
des investissements dans la reconstruction du réseau routier national.
The unexpected positive developments of 2015 will not continue
in 2016 and a smaller overall
increase of 1.8% is forecasted.
Les développements positifs inattendus de 2015 ne se poursuivront pas
en 2016, et une croissance globale
plus faible de 1,8 % est prévue.
Zugleich stagnierte der Sektor in mehreren Ländern oder verzeichnete ein
Minus, vorwiegend wegen Einschnitten
bei öffentlichen Investitionen. Dies war
der Fall in Estland (-9,4 %); Frankreich
(-4,5 %), aufgrund von starken
Beeinträchtigungen durch aufeinander folgende absehbare Ereignisse
(Nachwahlen auf kommunaler Ebene
und Wahlen auf DepartementEbene) und außergewöhnliche
Maßnahmen (erhebliche Einschnitte
bei Regierungsmitteln auf kommunaler Ebene ); Finnland (-1 %), wo der
Mangel an langfristiger Planung den
größten Unsicherheitsfaktor darstellt;
Griechenland (-12,1 %), wo der Tiefbau
den Erwartungen zufolge weitere
Rückgänge verzeichnen wird aufgrund
von Einschnitten bei den öffentlichen
Ausgaben und Verzögerungen bei der
Bereitstellung von EU-Mitteln für neue
Infrastrukturprojekte; Italien (-1,3 %), wo
2016 ein Wachstum von 6 % erwartet
wird dank bestimmter Maßnahmen aus
dem italienischen Haushaltsgesetz für
2016, die dafür sorgen sollen, dass die
seit Jahren bestehenden wirtschaftlichen und finanziellen Hürden für die
Ausführung öffentlicher Arbeiten in
Italien fallen; Litauen (-13,4 %) und
Slowenien (-8,2 %), wo eine weitere Reduzierung der bereits extrem
niedrigen Investitionstätigkeit für die
Sanierung des nationalen Straßennetzes
erwartet wird.
Die unerwartet positiven
Entwicklungen im Jahr 2015
werden sich 2016 nicht fortsetzen,
sodass insgesamt ein geringeres
Gesamtwachstum von 1,8 % prognostiziert wird.
EUROPEAN UNION
VOLUME OF INTERNATIONAL TURNOVER 2014
International Total
14,112
5,736
539
without Europe
935
4,009
without Europe
and North
America
834
without Europe,
North America
and Australia
1,972
34,946
26,726
5,465
10,469
13,204
5,640
15,526
50
3 15,596 23,601
4,017
7,483
4,431
5,154
4,002
50
3 10,909 14,367
3,912
6,939
3,589
818
2,874
50
3
15,329
To
ta
l
Tu
rk
ey
Sw
ed
en
3
Sp
ai
n
Ne
th
er
la
nd
s
Po
rtu
ga
l
(In million €)
G
er
m
an
y
G
re
at
Br
ita
in 2
Ita
ly
Fr
an
ce
Fi
nl
an
d
De
nm
ar
k
Be
lg
iu
m
Au
st
ria
Companies from…
15,974
165,638
9,870
5,331 13,025
93,505
5,154
6,540
0 12,886
69,185
0 12,873
52,863
9,973
1,856
3.6274)
6,782
2,588
5,154
6,265
1,969 19,350
3,125
1,448
2,986
8,773
486
5,656
9,998
2,949
72,133
Regional Total
13,177
1,727
489
North America
(USA and Canada)
101
7
0
0
4,687
9,234
105
544
842
0
3,330
5,331
139
24,320
America
(Central and South)
154
545
0
0
1,234
495
322
3,122
644
1,579
4,121
0
26
12,242
Oceania/Australia
16
1,128
0
0
157
1,001
0
275
0
13
302
758
0
355
0
4,234
936 12,511
569
26,145
Asia
(Without Middle East)
92
399
16
3
3,109
270
Africa
(Without Middle East)
158
781
20
0
4,277
607
543
2,173
516
3,570
778
0
3,242
16,665
Middle East 1
414
1,149
14
0
1,353
484
2,478
1,185
670
5
1,011
0
5,371
14,134
Afghanistan, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi-Arabia, Syria, United Arab Emirates and Yemen (North and South)
Source: ENR; The Top 225 International Contractors 2013, published on August 25, 2014 - Currency rate: 1 EUR = 1.33 US$; Official rate for 2013 of the European
Central Bank
3
EIC’s own research
4
As figures for the U.K. cannot be split between Australia and Asia, the total figure is an approximate value.
1
2
Source : EIC - European International Contractors
23
Europe
AUSTRIA
24
3. Non-residential construction
The Austrian economy is picking up pace, but only very
slowly. According to the September forecast of the Austrian
Institute of Economic Research (WIFO), Austrian GDP (real)
will grow by 0.7% in 2015 and 1.4% in 2016. In particular,
foreign trade remains weaker than expected and is unable to
serve as a catalyst for the recovery of the Austrian economy.
The consequences of the weak recovery are most visible in
the labour market. Despite a steadily increasing employment
rate - it has been growing for 5 consecutive years - the
unem-ployment rates are increasing as well.
The overall weak economic performance has had a direct
impact on the Austrian construction industry. Following
the remarkably strong decline (-2.1%) in real construction
investment in 2013, 2014 also resulted in a decline (-1.0%).
The construction sector, despite good weather conditions in
H1 2014, slipped into a negative result for the annual total,
emphasising the cur-rent weakness. Even if the negative
trend, according to the forecast, slowed down in the year
2015 (+ 0.2%), the currently available data do not envisage
prospects for an early recovery.
Total construction will be close to stagnation in 2015. In the
forecasting period an average growth of slightly above 1% is
expected, which rather stems from building construction than
from civil engineering.
New non-residential construction performed less well than
expected in 2014. Starting from a lower volume combined
with an improving economic framework, non-residential
construction is expected to recover again in 2015. Major
office projects which will be completed in 2015, helping this
market segment. In the public sector projects in the area of
health care are also contributing to growth in 2015 while
in the coming years growth will mainly result from further
investments in the area of industrial buildings.
Total non-residential construction is expected to grow by
close to 1% in 2015 with an increas-ing trend to 2.2%
towards 2018.
2.Housebuilding
The residential construction market is improving marginally
from year to year, nevertheless 2015 will be the third year in
a row with a decline in housing output, even if it is close to
stag-nation. In the coming years a small growth is expected,
which will mainly stem from new con-struction of flats and
multi-storey buildings. In 2017 and 2018 the market will
be bouyed by the recently announced stimulus package
for housing, which should fulfil future housing needs
especially in urban areas, above all in Vienna. Total housing
construction is therefore ex-pected to grow slightly above
1% from 2016 onwards.
The civil engineering outlook is divided into two different
areas. The market for transport infra-structure is very
favourable. Investments are mainly occuring in highway
and rail infrastructure where they will increase until 2017.
Also the telecommunications market will show positive
development towards 2018. On the other hand, the energy
and water works markets are under pressure. Investments
in power plants, above all in thermal facilities are not
economically viable because of the low energy prices. Water
works are declining due to the high connection rate to the
public drinking water supply and sewage systems. The
current activity is focused on renovation and modernisation
works mainly in the waste water sector. But this subsector
can-not compensate for the low levels and declining need in
terms of new construction. Total civil engineering is therefore
expected to grow slightly in 2016 by 0.6% and to more or
less stagnate in 2017 and 2018.
AUSTRIA
production
Mln. €
fixed prices
PER CENT VARIATION OF PRODUCTION IN REAL
TERMS OF PREVIOUS YEAR
1.
Sectors
2015a
2012
2013
2014
Building
26,016
2.9
-1.7
-1.7
0.3
1.1
15,404
3.9
-1.5
-1.4
-0.2
1.0
1.1.1. New
10,628
4.5
-1.7
-1.5
-0.5
1.0
1.1.2. R&M
4,775
2.5
-0.9
-1.1
0.6
0.9
10,613
1.5
-2.0
-2.1
0.9
1.3
1.2.1. Private
NA
NA
NA
NA
NA
NA
1.2.2. Public
NA
NA
NA
NA
NA
NA
6,897
1.0
-3.9
1.5
0.0
0.6
32,914
2.5
-2.1
-1.0
0.2
1.0
1.1. Housebuilding
1.2. Non residential
2.
(1 + 2)
variation of production on previous year (%)
Civil Engineering
Total Construction
2015a
2016b
a: estimate - b: forecast
NUMBER OF BUILDING PERMITS IN RESIDENTIAL CONSTRUCTION
2013
2014
2015a
2016b
15,800
16,400
17,100
17,100
17,400
collective dwelling
24,900
29,500
30,800
32,300
31,600
other types of dwelling
Total
NA
NA
NA
NA
NA
40,700
45,900
47,900
49,400
49,000
(Collective dwellings and other types of buildings: in number of flats)
120
120
110
110
100
100
9090
8080
70
70
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 338
‘11
‘10
‘09
‘08
‘07
60
60
POPULATION 2015
8,566,000

Housebuilding
Non residential
Civil Engineering
Total Construction
25
2012
single dwelling
BELGIUM
26
The first estimates of the Institute of National Accounts
indicate that the construction industry (+1.9%) outperformed
the average of the Belgian economy (+1.4%) in 2015.
“However, construction” salaried employment subject to
Belgian social security recorded a further decline (-2%).
It must also be noted that, in parallel, the number of
declarations of foreign posted workers for construction
assignments in Belgium increased by 25%. Under these
conditions, the business confidence of entrepreneurs
remained pessimistic throughout the year, even though the
gap between optimists and pessimists decreased since the
summer of 2015.
The construction of new non-residential buildings decreased
in 2015 (by around 3%). This is due to the fact that the
volume of works for authorised buildings and buildings yet to
be built was lower in early 2015 than it was in early 2014.
Experts are predicting weak economic growth in 2016
(+1.2%) that would, however, be able to decrease
unemployment. In this context, the construction industry as a
whole should continue to experience positive developments
in 2016. The intensity of this increase appears to be highly
dependent on the (positive or negative) development of civil
engineering in 2016 and the evolution of new constructions
that will be authorised, which are currently in a very volatile
state. Employment, however, is expected to continue to
decrease (-2 to 3%) if nothing changes in the factors
causing the accelerated decline in the employment rate of
the Belgian construction industry.
2.Housebuilding
The activities connected with the construction of new homes
slightly increased in 2015 (by around 3%) in line with the
latest works on the large number of homes authorised in
2014, following various epiphenomena.
In the absence of such epiphenomena, the number of
authorised homes over the whole year greatly declined (by
around 10%). The actual level of demand observed in late
2015 appears unclear. Significantly higher than the level of
the first three quarters, it may only reflect the high volatility
of statistics on building permits, and it is therefore necessary
to expect a significant decline in the activities connected to
the construction of new homes in 2016 (by around 7.5%).
In the most favourable hypothesis that it is a sign of recovery
of demand, the decline in production should be less marked.
Given construction deadlines, a recovery of demand does
not seem likely to contribute to avoiding a decline in the
production of new homes in 2016.
The total volume of new buildings authorised in the course of
2015 increased significantly (by around 10%). This shows a
growth potential for activities connected to the construction
of new non-residential buildings in 2016, especially given
that the volume of works linked to the “Scholen voor
morgen” (Schools for tomorrow) project is also projected to
be higher than in 2015. It is therefore estimated that new
non-residential constructions could increase by around 8%
in 2016.
The “ex post” statistics on the evolution of civil engineering
in 2015 are, for the 2nd year running, quite different from
the “ex ante” estimates (perspectives on the resources of
the public authorities and how they will be used). Various
converging pieces of information seem to suggest that,
across all forms of activity, civil engineering avoided the
expected decline and possibly even increased by a few
percent.
In this context, establishing development prospects for 2016
seems a particularly uncertain exercise. On one hand, it
could be stated that the share of civil engineering in public
investments reached a level above its trend level: this means
that adjusting the figures to trends, according to standard
practice in such cases, would result in a decrease for civil
engineering in 2016. On the other hand, it can be noted
that, firstly, the investment budget for rail was not reduced in
2016 (contrary to 2015) and, secondly, that changes in the
investment cycle of local authorities is approaching a peak
ahead of the forthcoming local elections (2018): this means
that there are favourable prospects for civil engineering in
the absence of the above-mentioned adjustment.
BELGIUM
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
30,166
-0.4
-0.4
2.1
1.0
1.6
16,936
-3.7
-1.7
6.7
3.0
-1.6
1.1.1. New
7,192
-3.3
-1.6
11.9
3.0
-7.5
1.1.2. R&M
9,744
-3.9
-1.8
3.2
2.9
2.7
13,231
3.8
1.1
-2.9
-1.5
5.7
1.2.1. Private
8,622
3.8
1.1
-2.9
-1.5
5.7
1.2.2. Public
4,609
3.8
1.1
-2.9
-1.5
5.7
Civil Engineering
6,846
8.0
-4.4
5.4
3.0
0.0
37,012
1.1
-1.1
2.7
1.3
1.3
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2015a
2016b
2013
2014
2015a
2016b
21,623
20,692
21,591
19,000
19,655
collective dwelling
24,806
27,917
31,720
28,500
29,374
Total
319
357
616
888
916
46,748
48,966
53,927
48,388
49,945
140
140
130
130
120
120
110
110
100
100
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 410
‘11
‘10
‘09
‘08
‘07
90
90
POPULATION 2015
11,235,000

Housebuilding
Non residential
Civil Engineering
Total Construction
27
2012
single dwelling
BULGARIA
28
The construction industry in 2015 was characterised by
favourable dynamics and a change in the growing negative
trend established over the years. Statistical data for some
indicators show positive signs and indicate the expected pace
of recovery and growth of the construction sector.
In recent years, the construction sector in Bulgaria
accumulated losses and according to preliminary statistics,
2015 proved to be a turning point, marking a positive trend
for the first time. The illustrated growth is mainly based on
completed EU projects in the area of road and water supply
and sewage infrastructure. The construction industry in 2015,
according to preliminary data, made up 4.7% of the total
gross value added for the economy. In 2015, foreign direct
investment in the construction sector showed a significant
drop of 57.9% compared with 2014. Small-scale projects
still remain in the focus of investors. For more than 4 years,
investment activity in the construction industry had overall
negative values in real terms. This trend continued in 2015.
The expectations are that in 2016, the construction segment
will see an increase in construction volume levels on an
ongoing basis. Public procurement notices in the construction
sector in 2015 amounted to 2.8 of a value of €2 billion.
The trend is towards a registered decline in the number of
procurement notices by 13.2% and a decrease in value by
14%. An indicative fact for the construction sector is the
continuing trend towards significant decline in the costs for
acquisition of fixed assets - by 61% in 2015 compared to
2014. Employment in the construction sector accounted for
5.3% of the total employment in the economy of the country,
maintaining the same trend as in the previous year and an
increase of 2.5%. The trend shows an ageing workforce
in the construction sector, and an outflow of the younger
generation from the building profession. The unemployed in
the construction sector in 2015 accounted for 11.4% of the
total number of unemployed in the country (13.9% in 2014).
2.Housebuilding
The forecast analysis of preliminary data for 2015 shows that
the share of housing construction in the total revenue in the
sector accounted for only 12.6%, which is a significant drop of
32.4% compared to the pre-crisis period. Price falls of homes
were registered, but buyers remain cautious. In general, the
downward trend in housing construction persists, with signs
for a slight increase in 2016. Construction starts of residential
buildings in 2015 increased by 11.8% against the previous
year and the proportion of dwellings indicate a significant
increase of 47.3%. Completed residential buildings that were
put into operation in 2015 show a decrease of 5.5% and a
decrease in the proportion of dwellings of 18.6%. The Figures
show an increase in construction in H2 2015, which gives
hope for a positive forecast and grounds for dynamic changes
in housing construction in 2016. Completed buildings
were mostly made of reinforced concrete and represented
69.9% of the total number of residential buildings put into
operation, while the share of brick buildings was 26.3%,
which represents an upward trend. One of the key priorities
for the segment is improving energy efficiency in accordance
with the “Europe 2020” strategy, under various co-funding
schemes. In 2015, in housing construction in Bulgaria projects
were launched, aimed mainly at renovation and rehabilitation,
optimisation, modernisation and energy efficiency of the
existing building stock.
According to estimated data, non-residential buildings
construction will form 24.3% of the revenue in the
construction sector. Summarising the data for 2015 on
non-residential building construction, the trend observed is
towards a minor increase, of 0.8% compared to 2014. The
non-residential sector expects to register positive growth
rates during 2016, where the leading segment is industrial
construction, and an increase of construction in the healthcare,
education and agriculture sectors. Industrial construction
and construction related to agricultural businesses held an
important position in non-residential building construction in
2015 and this trend will persist in the future. The situation in
the segment can be seen from the data on the permits issued
in 2015. With regard to administrative buildings, a decline of
16% against the previous year reported and a minor decrease
in urban areas of 1.2%. Regarding construction permits issued
for other buildings, the data for 2015 indicates an increase of
1.4% and an increase in urban areas of 29.7%. Construction
starts of administrative buildings in 2015 remained stagnant
with negative values of 4.3% compared to 2014. Most of the
investors expect a favourable period in the market, which will
unleash the potential of this segment. For the next year, the
growth rate for office buildings will be around 2% according
to the estimations. In 2015, there was some improvement in
the real estate market trend, but the results achieved in the
pre-crisis period could hardly be repeated.
Civil engineering infrastructure output was €4.2 billion, which
was a positive increase of 17.1% against the previous year. The
growth came mainly from the completion of EU-funded projects
in the area of road and water infrastructure. For several years
the construction industry has redirected its focus and moved
towards construction of infrastructure projects. The place of this
segment was of particular importance for the development of
the construction sector and of the economy as a whole. Based
on estimated data, civil engineering infrastructure accounted for
50.2% of total production output and was growing. Engineering
construction depends entirely on the state budget and local
structures as well as on funds granted by the EU. However, the
positive trend in civil engineering is estimated to have stopped
by the end of 2015. The reason is the transition period of the
EU to 2014-2020, and the reduction of EU funds allocated for
civil engineering infrastructure. Forecasts for increasing energy
plant construction in the coming years remain volatile due to
the uncertain future of nuclear energy projects. This segment is
unlikely to fulfil its potential.
BULGARIA
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
2,436
-0.2
-7.7
-0.9
-0.1
NA
830
-16.5
-4.3
-0.4
1.5
NA
1.1.1. New
672
-18.7
-5.9
-2.5
0.1
NA
1.1.2. R&M
159
-0.8
4.7
10.5
8.2
NA
1,606
10.0
-9.2
-1.2
-0.9
NA
1,595
10.0
-9.2
-1.7
-0.9
NA
11
0.0
-25.0
266.7
0.0
NA
4,192
2.8
-5.4
31.6
-1.1
NA
6,628
1.5
-6.4
17.5
-0.7
NA
1.1. Housebuilding
1.2.1. Private
1.2.2. Public
2.
(1 + 2)
Civil Engineering
Total Construction
2016b
2013
2014
2015a
2016b
4,238
4,120
4,245
4,310
NA
NA
NA
NA
NA
NA
5,108
4,830
4,510
4,539
NA
Total
9,346
8,950
8,755
8,849
NA
collective dwelling
350
350
300
300
250
250
200
200
150
150
2016b
2015a
‘14
‘13
‘12
‘11
‘10
‘09
‘08
50
50
‘07
100
100
0
2007 = 100
GDP 2015
€ 44
BILLION
POPULATION 2015
7,200,000

Housebuilding
Non residential
Civil Engineering
Total Construction
29
2012
single dwelling
CYPRUS
30
According to the national statistical service (CYSTAT) the GDP
growth rate in real terms during Q3 2015 was positive and
estimated at +2.3% compared with the corresponding quarter
of 2014. Based on seasonally and working day adjusted data,
GDP growth rate in real terms is estimated to be +2.2%.
Positive growth rates were recorded by the following sectors:
Manufacturing, Construction, Retail and Wholesale Trade, Hotels
and Restaurants, Transport, Professional, Scientific and Technical
Activities, Administrative and Support Service Activities as well
as Financial Service Activities. Negative growth rates were
recorded by the following sectors: Recreational, Cultural and
Sporting Activities, Activities of Households as Employers and
Other Community, Social and Personal Service Activities. During
the period January – September 2015, 3,693 building permits
were issued compared to 3,714 in the corresponding period
of the previous year .The total value of these permits increased
by 19.1% and the total area by 14.8%. The number of dwelling
units recorded an increase of 15.1%. The output prices index
in construction for Q2 2015 reached 100.6 units, recording a
decrease of 0.1% over Q1 2015. Compared to the same quarter
of the previous year, the index recorded an increase of 3.5%.
By type of segments, a decrease of 0.9% was observed for
buildings and an increase of 12.8% for civil engineering projects
in Q2 2015, compared to the corresponding quarter of 2014.
The Consumer Price Index decreased by 2.2% in the period
January-October 2015 compared to the corresponding period
of 2014. The price of petroleum products decreased on average
by 13.5%, local products by 4.0%, imported products by 0.6%
and services by 0.1%. In Q2 2015, the number of employed
people amounted to 364,585 and the number of unemployed
people to 62,643. The employment rate for people aged 2064 was 68.7% (males 72.7% and females 65.1%) recording
an increase from the previous quarter (67.2%) and from the
corresponding quarter of 2014 (67.8%). The unemployment
rate amounted to 14.7% of the labour force (males 14.9% and
females 14.4%) recording a decrease from the previous quarter
(17.7%) and the corresponding quarter of 2014 (15.4%). Also
the unemployment rate for young people aged 15-24 amounted
to 31.7% of the labour force of the same age group recording
a decrease from the previous quarter (37.1%) and from the
corresponding quarter of 2014 (37.2%).
2.Housebuilding
2,483 building permits for residential buildings were issued
during the period January – September 2015, providing for
the construction of 2,397 dwelling units. The number of these
dwelling units represents an increase of 13.14% compared
to 2,082 in the same period of 2014. These building permits
comprise 1,978 single houses corresponding to 1,193 dwelling
units and 502 buildings with two or more housing units
corresponding to 1,204 dwelling units.
The number of building permits authorised by the municipal
authorities and the district administration offices during
September 2015 stood at 407, as in September 2014.
The total value of these permits reached €78.5 million, an
increase of 0.76% compared to 77.9 million in September 2014
and the total area 69,400 m². These building permits provided for
the construction of 314 dwelling units.
During the period January – September 2015, 738 building
permits were issued for non-residential buildings, a decrease
of 2.5% compared to 757 in the same period of 2014. The
total area of these buildings reached 142,668 m² and the
total value €184.8 million. These included building permits
providing for the construction of 155 hotels and similar
buildings (compared to 151 in the same period of 2014), 55
office buildings (compared to 41 in the same period of 2014),
99 industrial buildings and warehouses (compared to 92 in
the same period of 2014), 102 public entertainment buildings
and buildings used for recreational, educational or medical
purposes (compared to 124 in the same period of 2014), 58
wholesale and retail trade buildings (compared to 84 in the
same period of 2014) and 251 other non-residential buildings
(compared to 265 in the same period of 2014).
The number of building permits issued for civil engineering
projects during the period January – September 2015 stood
at 144.The total area of these projects represented 9,114 m²
recording a decrease of 11.7% compared to 10,180 m² in the
same period of the previous year. Their total value reached €57.4
billion, recording an increase of 5.7% compared to €54 billion
in the same period of the previous year. In the same period, 57
building permits were issued providing for the execution of road
construction projects in addition to the above civil engineering
projects, the same figure for the corresponding period of 2014.
The total value of these projects (2015) however, reached €4.5
billion recording an increase of 22.6% compared to €3.5 billion in
the same period of the previous year. 171 building permits were
issued for big projects (each with an area greater than 900 m²)
recording an increase of 18.7% compared to 139 in the same
period (January – September) of the previous year. The total area
of these projects represented 299,212 m² recording an increase
of 28.6% compared to 203,540 m² in the same period (January
– September) of 2014. Their total value reached €382 billion,
recording an increase of 10.9% compared to €203 billion in the
same period of the previous year. In the same period (January –
September 2015) 3,522 building permits were issued for small
projects (including 1,480 dwelling units) recording a decrease
of 1.5%. The total area of these projects represented 359,215
m², recording a decrease of 3% compared to 370,216 m² in the
same period (January – September) of the previous year .Their
total value amounted to €381.8 billion recording a decrease of
4.9% compared to €401 billion in the same period (January –
September) of the previous year. The number of permits providing
for the division of plots during the period January – September
2015 fell to 228, recording a decrease of 20.6% compared to
275 in the same period of 2014.
CYPRUS
2012
2016b
2,761
2,019
1,599
NA
NA
collective dwelling
2,806
1,941
1,184
NA
NA
Total
2013
312
181
72
NA
NA
5,879
4,141
2,855
NA
NA
DE © fottoo - Fotolia.com
(Collective dwellings and other types of buildings: in number of flats). Note: 2014, data Jan.-Oct. only
GDP 2015
€ 17
BILLION
POPULATION 2015
865,000
2014
31
2015a
single dwelling
CZECH REPUBLIC
32
The Czech economy in 2008 fell sharply and was alternately
rising and falling, in particular following the political situation and
the economic situation in the Euro-region. 2014 represented a
turning point for the Czech construction industry. After 5 years
there was a growth in production volume. This is partly due to
the low comparative levels of previous years - the volume of
construction in the 2008-2013 period of time had fallen by
25%. Growth in the last year and this year is a sign of recovery
in construction activity in the Czech Republic and in all types
of construction. Demand for construction work grew in both
the private and public sector. Last year the Czech economy
finally recorded a rise in GDP (+2%). Six consecutive quarters
of recession (2.3% in total) stopped in Q2 2015. Last year
GDP started to recover, mainly thanks to export and import.
Domestic demand started to grow also. Estimates for current
GDP development are more optimistic in this area and predict
a positive trend in all components of GDP. According to current
developments, the expected economic growth for this year is
more positive (3.8%). Within the period 2016-2018 we expect a
moderate growth of around 2.5% each year. The position of the
Czech currency-CZK against the EUR is still quite weak due to
intervention policy. The Czech National Bank started this concept
in 2013 to stimulate export and kick start the Czech economy.
Thus the Czech crown was weakened quite significantly and the
average exchange rate CZK/EUR reached 25.9 in 2013 and then
27.5 last year. The volatility of the exchange rate stabilised and this
helped in the area of investment planning. This intervention should
last until the end of 2016. The construction industry in 2014
employed 365,000 people (of which 212,000 were employees),
which is 7.3% of all employed persons and approximately 7% of
the working population. The number of workers in the construction
industry between 2008 and 2014 decreased by 11% and `in
2015. The average wage in construction was about 11% lower
than the national average and in comparison with the previous
year increased by 1.7%. In 2014, the price index of construction after years of recession - swung into positive figures and the price
of construction works continued to grow in 2015.
2.Housebuilding
Growing confidence in the stability of the economy together
with record low mortgage loan rates were the main positive
factors for the development of housing construction. Demand
for new housing is still considerable. Prices of apartments are
already rising. The new construction situation is more optimistic
in the case of dwellings in residential buildings. The decline
in the construction of houses also stopped and the forecast
shows a rising trend. The average interest rate of mortgages
in 2015 reached a record low, while in May and June it came
down to 2%. Low interest rates are a positive factor for the
further development of housing construction, and demand
for mortgages reached record levels. The average mortgage
amount is increasing, but with the recovery of the real estate
market the prices offered for new flats are gradually rising too.
A positive factor is the growth in household incomes since
2013. For 2015, the household income growth is expected
to exceed just 2%. However, there has also been a growth in
house prices, coupled with a recovery in the real estate market.
Property prices initially rose mainly in Prague, but now they
have grown in almost the entire country. In the Czech Republic
there are about 1.5 million houses, from which only 25% have
been renovated. From 200,000 residential buildings about
40% have been renovated. The proportion of renovation and
modernisation of housing construction has not grown since
2011. With regard to the revival of new construction, the R&M
share will not grow and will represent approximately one third of
total residential construction. R&M in housing is being positively
influenced by the government’s programme, which supports
reconstruction in order to improve the energy performance of
buildings and the use of renewable energy sources.
Non-residential construction in 2015 was still falling. Investors
considered each investment carefully. A positive development
in non-residential construction is in projects, financed from
private sources. Private investors are starting to wake up and are
beginning to explore larger-scale projects mainly in the field of
storage space. This slight improvement is being driven mainly by
technology companies who are interested in modern and cheap
spaces. Conversely, non-residential construction, financed from
public funds, showed worse results than expected.
Civil engineering construction suffered particularly from the
suspension and revision of the amount of highway construction
projects, but also by a significant reduction in the preparation
of new projects. 2014 was - after three years of almost 10%
decline -favourable for civil engineering construction and finally
recorded a growth. We managed to activate funding for civil
engineering works, with the support of EU funds and open
the possibility to exhaust and exploit the EU funds available
for the respective period. The year 2015 was, in this respect,
even more distinct and growth of more than 15%is expected.
Good results were achieved with the construction of flood
prevention measures. The construction of sewerage systems
and wastewater treatment plants is ongoing, especially in the
villages along the rivers and water areas.
In 2014, the share of civil engineering construction was 28.9%
of the total volume of construction. In 2015 this figure, due to
a strong growth in volume, rose to 31.1% and in the coming
years will gradually decrease. Road construction is recovering
from cuts. The share of engineering construction renovation
is reaching around 30%, predicted for the long term. After
the recovery of new investments and construction the R&M
share will decline. The current government considers building
investments to be the main support for the stimulation of the
economy and it is intensively concentrating its attention on
problems related to funding sources, both from our own and
EU funds. The data concerning 2015 will be published by the
Czech Statistical Office in May 2016.
CZECH REPUBLIC
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
9,730
-1.0
-6.0
7.5
-5.4
NA
2,500
1.0
-13.2
7.2
-15.5
NA
1.1. Housebuilding
(1 + 2)
2015a
2016b
1.1.1. New
1,890
48.9
-12.5
-18.0
-6.0
NA
1.1.2. R&M
610
-70.1
-18.4
206.5
-35.8
NA
7,230
-1.8
6.1
-1.3
-1.4
NA
2.
1.2.1. Private
4,080
17.0
-28.1
3.8
13.6
NA
1.2.2. Public
3,150
-27.5
81.3
-5.8
-15.8
NA
Civil Engineering
5,930
-7.2
-18.3
-5.7
-5.7
NA
15,660
-3.8
-11.5
2.1
-5.5
NA
Total Construction
2013
2014
2015a
2016b
22,900
18,300
15,800
16,600
17,200
collective dwelling
11,100
11,200
12,300
12,500
13,000
Total
NA
NA
NA
NA
NA
34,000
29,500
28,100
29,100
30,200
130
130
120
120
110
110
100
100
90
90
80
80
70
70
60
60
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 162
‘11
‘10
‘09
‘08
‘07
50
50
POPULATION 2015
10,546,000

Housebuilding
Non residential
Civil Engineering
Total Construction
33
2012
single dwelling
GERMANY
Preliminary figures for 2015 show a minimal growth of
total construction output in real terms of 0.2%, reaching
a volume of €297 billion. The growth was only based on
the development of residential construction where the
surplus was 1.5%. Non-residential building (- 2.2%) and civil
engineering (-1.2%) experienced a decline. Parallel to the
minimal surplus in production, employment in construction
(2,431 million) fell by 0.5%, due to the improvement in
productivity.
Expectations for total construction output in 2016 are better
than last year. The economic research institutes predict a
real growth rate for GDP of 1.8%. Construction federations
expect total construction output to grow at nearly the same
rate by 1.5% in real terms. The volume at current prices is
expected to go beyond the level of €300 billion for the first
time. The share of GDP, attributed to construction activity, will
be stable at about 10%.
New orders for the construction industry in 2015 had a
value of more than €58 billion (+4%), the highest volume
since 2000. The value of building permits (excluding civil
engineering) was €67.6 billion (+6%).
34
2.Housebuilding
The sector clearly dominates German construction activity
with an actual share of 60% of total construction output, with
two thirds of the investment going into the existing housing
stock and one third into new residential construction. The
latter will be once again the driving sector, as it has been
since 2010. Historically low mortgage rates, a labour force
that continues to grow, combined with rising disposable
income of private households and the sharply rising demand
in urban areas for rented flats support the development.
Demand is being boosted by the high number of refugees
coming to Germany (estimated 1.1 million people in 2015).
In 2016 the subsectors are going to show different
developments. Only a slight growth is expected for single
family houses, while high and still rising prices for developed
properties will slow things down. On the other hand, flats
in multi-family houses will push the market once again.
Demand in urban areas is still high and will further be
strengthened by the high number of refugees. Efforts
will concentrate on reducing the costs of investment into
residential buildings to allow for lower rents.
Demand for new flats or houses in Germany is expected
to be in a range of 350,000 to 400,000 due to the high
number of refugees. With 260,000 completions in 2015
and about 290,000 this year, the demand will clearly not be
met. Therefore the government has reacted to improve the
framework for the market.
Government payments to the Federal States for social
housing programmes will be doubled to €1 billion from 2016
on. Another rise to €2 billion per year is under discussion.
Parallel to that, depreciation allowances will be raised to
35% of the investment sum within the first three years for
the construction of new rental flats in areas with a high
demand and limited construction costs.
The measures will be effective at least until 2018 so
prospects for the medium term future are positive. Parallel
to that, efforts to upgrade the existing housing stock to meet
demands for energy efficiency will grow slowly but steadily.
Legal guidelines have once again been tightened at the
beginning of 2016.
The share of non-residential buildings in terms of total
construction output was about 26% in 2015, the sub-sector
itself largely dominated by private investors. Although the
predictions for a real GDP growth in Germany of 1.8% in
2016 are still positive, private investors will remain hesitant
with regards to external risks (oil price decline, economic
development in China, ongoing turbulence in the Euro-zone).
Building permits (estimated construction costs) for private
investors only stagnated in 2015. New orders for the
construction industry in this sub-sector showed a decline
of about 2.5% last year. Investment was directed at new
machinery and equipment rather than new industrial
buildings. On the other hand, investment by German
companies in other countries to explore markets remained at
a high level.
Permits for public investors rose by 6% in 2015, following
a decline of 20% in 2014. The outlook for 2016 is positive.
Orders in 2015 were up by 8%. Large sums will be spent
on a local level to convert all kinds of buildings to refugee
shelters. The effects of those plans have been seen since
autumn 2015. Rising investment can also be expected for all
kinds of educational buildings for the refugees.
In 2015, the sector accounted for 14% of total construction
output in Germany, compared to more than 20% in most
other European countries. After a decline in real terms of
1.2% last year, an essential growth of nearly 3% is expected
for 2016.
Federal government announced an initiative last year.
The investment into highways, waterways and the railway
system will be expanded by €1.5 billion or 14% in 2016.
The combined budget for these infrastructure works has a
volume of more than €12 billion, which is nearly one third
of all civil engineering production. The government plans to
raise its spending to more than €13 billion up until 2018.
GERMANY
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
225,850
1.2
-1.2
2.5
0.4
1.3
157,750
3.4
-0.7
3.3
1.5
2.0
1.1.1. New
50,000
5.1
4.9
8.4
5.0
5.0
1.1.2. R&M
107,750
2.8
-2.9
1.2
0.0
0.6
68,100
-3.3
-2.1
1.0
-2.2
-0.3
1.1. Housebuilding
2.
(1 + 2)
2015a
2016b
1.2.1. Private
57,150
-0.8
-2.4
1.7
-2.2
-0.4
1.2.2. Public
10,950
-14.0
-0.9
-2.9
-2.7
0.5
Civil Engineering
37,000
-3.5
-0.3
5.2
-1.2
2.7
262,850
0.5
-1.1
2.9
0.2
1.5
Total Construction
2013
2014
2015a
2016b
106,697
110,284
107,337
114,000
110,000
collective dwelling
105,939
126,990
138,687
145,500
160,000
Total
28,454
35,159
39,055
42,500
44,000
241,090
272,433
285,079
302,000
314,000
120
120
115
115
110
110
105
105
100
100
95
95
90
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 3,026
‘11
‘10
‘09
‘08
‘07
90
POPULATION 2015
83,500,000

Housebuilding
Non residential
Civil Engineering
Total Construction
35
2012
single dwelling
DENMARK
36
The Danish economy has experienced positive growth over
the past 2 years. The upturn has been moderate, but it has
been strong enough to create a clear improvement in the
labour market with private sector employment rising without
leading to labour-market bottlenecks. The improvement in
the labour market and improving real wages - due to very low
inflation, have in combination with rising housing prices and
very low interest rates, strengthened the economic position
of households and created a sound foundation for domestic
demand. At the same time Danish exports are being supported
by the weak euro and krone exchange rate.
The objective of the current monetary policy is to keep the
krone stable against the euro. Fiscal policy has been planned
in order to support the Danish economy as much as possible
in the wake of the economic crisis. Actual budget deficits are
expected to comply with the 3% of GDP limit of the Stability
and Growth Pact. Having been 1.2% in 2015, GDP growth is
expected to be well over 1% in 2016. Low interest rates have
led to many households converting their mortgages, shifting
from mortgages with frequent interest rate adjustments to
fixed-rate mortgages, thereby protecting themselves against
future increases in interest rates. This has contributed to
reducing the sensitivity to fluctuations in interest rates for both
individual families and the Danish economy as a whole. Inflation
is low due to the low level of oil prices and also idle resources
remaining in the Danish economy. Low inflation is contributing
to strengthening the purchasing power of consumers and is
supporting private consumption. However, contrary to the period
of overheating in the 2000´s there is currently no expectation
of a strong increase in debt-financed consumer spending. For
the past 2 years employment in the construction industry has
been rising. In 2015 the average total employment was 7.7%
higher than in 2013. New construction of dwellings and civil
works increased. Rehabilitation and maintenance works were
stimulated by political measures, i.e. rehabilitation works of
dwellings with public grants and a special tax rule, i.e. deduction
in tax for some of the labour costs associated with the repair
of housing. The Danish Construction Association expects
that employment will rise again in 2016 by well over 1%. The
companies in construction reporting constraints on production
due to a labour shortage has risen since the middle of 2014
after years of low activity and virtually no labour shortage, but
the extent of the shortage is far lower than during the 2000´s.
Wages were higher in 2015 than in 2014, but are still fairly
moderate when seen with a historical perspective.
2.Housebuilding
The large drop in interest rates at the beginning of 2015 led to
strong house-price increases in the major urban areas and the
increase in long-term interest rates in H2 has not prevented
further increases in housing prices. Prices of owner-occupied
apartments are rising much more than prices of single-family
houses. The development in the housing market is positive with
increasing prices and turnover in large parts of the country. This
reflects an improvement in the economic situation of many
families as a result of rising employment, income growth and
low interest rates. The outlook for mortgage rates to remain
low implies that they will not act as a brake on the growth in the
housing market. For the forecast horizon further increases in
housing prices are expected, albeit at a more muted pace than
in 2015. Investment in housing is expected to pick up, especially
driven by new construction, which has become more attractive
as a result of increasing housing prices.
Residential construction is rising. Total dwelling starts rose from
11,500 in 2013 to 14.000 in 2014 and 14,500 in 2015. This
year we expect a rise to about 15,000 dwellings.
The activity of renovation and maintenance works has been
rising as a result of extraordinary events, especially political
stimulus measures for major renovation works for dwellings,
with public grants. However, in 2016 this activity will fall.
A special tax rule for deduction in tax for labour costs
associated with special repair works of private dwellings has
been changed so the activity will now have a more minor effect
than before 2016. The progress in the labour market and rising
housing equity is increasing the confidence of many property
owners and consequently also their propensity to demand more
renovation and maintenance works. We expect that the total
employment in renovation and maintenance works will rise by
about 3% in 2016 compared with only 1% in 2015.
Business investments in non-residential buildings have been
reduced to a very low level due to the economic crisis and the
fact that years ago during the economic upturn Denmark had
large investments in new construction, so now there is a large
stock of empty commercial buildings. In 2016, we expect that
both the level of starts of new buildings (buildings for distributive
and pro¬fes¬sional traders and for administration as well as
for factories and workshops) and the level of renovation works
of existing buildings will be at about the same level as in 2015.
Concerning starts of agricultural construction we expect the
same low level this year as last year. An increasing part of the
activity of new non-residential construction is investment in
buildings for institutional and educational use, especially new
universities and new hospitals.
In 2015, activity t civil engineering activity rose due to many
large projects, especially in traffic infrastructure. However, this
year we expect a minor decrease in the activity of civil works.
The Danish Parliament has agreed on a number of initiatives as
part of a green transport policy. The political agreement states
that most of the traffic growth must be absorbed by public
transport.
There are a large number of projects and infrastructure
investments. For instance there are large investments in a new
Metro Line in Copenhagen, investments in a new line in the
TEN priority corridor between Copenhagen and Ringsted and
investments in the European Rail Traffic Management System.
DENMARK
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
14,678
-3.0
-2.2
3.6
0.2
2.9
8,961
-5.1
-2.9
3.7
0.6
3.1
1.1.1. New
1,930
-19.1
-11.1
-2.2
0.6
3.8
1.1.2. R&M
7,031
0.8
-0.2
5.4
0.6
3.0
5,717
0.6
-1.0
3.4
-0.5
2.7
1.2.1. Private
2,552
-12.9
-3.0
0.1
-5.6
0.8
1.2.2. Public
3,165
18.6
0.9
6.6
4.1
4.1
Civil Engineering
7,155
4.9
2.2
-2.4
5.1
-2.7
21,833
-0.6
-0.7
1.6
1.7
1.1
2012
2013
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2015a
2016b
2016b
3,673
3,780
3,977
4,667
NA
Other one-family houses (rowhouses)
1,948
1,726
2,480
2,817
NA
Flats in multi-family houses etc.
Total
2014
6,676
5,933
8,633
9,617
NA
12,297
11,439
15,090
17,101
NA
120
120
110
110
100
100
90
90
80
80
70
70
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 267
‘11
‘10
‘09
‘08
‘07
60
60
POPULATION 2015
5,674,000

Housebuilding
Non residential
Civil Engineering
Total Construction
37
2015a
Detached one-family houses
PL © Photographee.eu - Fotolia.com
ESTONIA
38
ESTONIA
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
1,136
22.0
3.6
3.4
-6.4
NA
NA
17.7
11.5
24.1
NA
NA
1.1.1. New
NA
19.1
4.5
63.3
NA
NA
1.1.2. R&M
NA
16.8
16.7
-2.6
NA
NA
NA
23.4
1.1
-4.0
NA
NA
1.2.1. Private
NA
NA
NA
NA
NA
NA
1.2.2. Public
NA
NA
NA
NA
NA
NA
Civil Engineering
638
12.2
2.6
-10.2
-9.4
NA
1,774
17.9
3.2
-2.1
-7.5
NA
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2015a
2016b
collective dwelling
Total
2015a
2016b
960
2013
1,168
2014
1,228
1,386
NA
2,075
1,881
2,713
4,202
NA
NA
NA
NA
NA
NA
3,035
3,049
3,941
5,588
NA
110
110
100
100
9090
8080
7070
6060
5050
40
40
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 20
‘11
‘10
‘09
‘08
‘07
30
30
POPULATION 2015
1,313,000

Housebuilding
Non residential
Civil Engineering
Total Construction
39
2012
single dwelling
SPAIN
40
The Spanish economy consolidated its recovery as 2015
progressed, reaching an average growth of 3.2%. This
growth rate was supported by the falling oil prices, the
gradual improvement in European demand and the monetary
policy of the European Central Bank, which in turn facilitated
a favourable framework for the Euro exchange rate, interest
rates and liquidity. Also, structural reforms undertaken in
Spain have had a positive effect, and household consumption
and business investment have contributed to that growth
as well. Among the most remarkable features, it is worth
mentioning the gradual recovery of the real estate market,
the continuation of the improvement in the labour market
and the private deleveraging. Additionally, it is also worth
noting the improvement of investment in construction
although the starting point was at a very low level.
The number of jobs created throughout last year was
525,000 people, an increase higher than 3% in relation
to 2014. However, accumulated job destruction is still
more than 2.66 million people, and 1 million of those
were in the construction sector. The crisis in the Spanish
economy throughout recent years has led to a rise in the
unemployment rate, from the 8% recorded in 2007 to 27%
in early 2013, easing to 20.9% at the end of 2015.
The consensus amongst analysts anticipates a moderate
growth rate for 2016, although they warn about the
persistence of a substantial vulnerability due to the high
levels of debt, the difficulties of reducing the public deficit,
and in addition there is concern about the political stability in
the country.
The factors supporting the above projection are improved
consumption and investment levels, sustained by a
continuing increase in exports (aided by the recovery of
competitiveness). In the case of public investment, a similar
volume with respect to the previous year is expected.
Meanwhile, private investment spending, in a scenario in
which financial conditions are still favourable, is expected to
rise more intensely.
Taking into account SEOPAN estimates, the construction
sector reached a production volume of €101.4 billion in
2015, a growth rate higher than 5.5% in comparison with
2014. In terms of added value, a significant loss of weight is
confirmed, from its peak of 10.4% of GDP in 2006, and in
spite of 0.2% recovered last year, to currently 5.2% of GDP,
in line with the European average.
Within the recent evolution in the construction industry
trend, it is worth highlighting the progressive improvement
in housing demand, the continued strength of export activity
and the significant recovery of employment.
The increase in activity in 2015 stems from the rise in
residential building and, to a lesser extent, to the activity in
non-residential building. With regard to the recovery in civil
engineering, it is attributable to the dynamic in a context of
regional elections.
Forecasts for 2016 anticipate that the growth in construction
investment will be moderate, underpinned by further
progress in the housing segment and slower growth in other
buildings, but hampered by the stagnation in civil engineering
works.
2. Housebuilding
In 2006 the number of dwelling starts reached its peak;
throughout 2007 a change in the demand cycle was
confirmed, which became more pronounced in later years,
declining to 34,000 in 2013 and 2014. During last year a
slight recovery was noticed, with the number increasing up
to 45,000.
Despite the timid increase in 2015, residential investment
accumulates closed with a 50% decrease, which has led to a
reduction in its contribution to GDP of almost 7.6% and sets
it at 4.5%, lower than the European average. With regard to
the real estate market, it improved throughout 2015 and a
rise in prices in regions with a more dynamic demand and
less stock was perceived.
Activity in 2015 grew by 7% in 2015. Forecasts for 2016
show a similar rise. The demand is expected to slowly
progress although it is still far from the potential level.
With respect to the rehabilitation and maintenance segment,
the weakness of previous years is encouraging families to
increase their spending, supported by improving household
income and confidence levels, which are expected to
continue in the current year.
An improved business activity casts a more positive outlook.
In contrast, public activity will register a drop again.
The civil engineering segment experienced a 3% increase
in 2014, the first positive result after 5 years of intense
adjustment. This growth was based on the electoral cycle,
the loosening of the fiscal consolidation process and an
improvement in the financial framework. Nevertheless
forecasts for 2016 show stagnation or a slight fall in activity.
SPAIN
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
90,336
-5.2
-5.3
-0.7
6.3
5.7
56,255
-6.2
-5.6
-1.1
7.6
6.7
1.1.1. New
33,970
-7.5
-7.0
-1.5
6.5
6.5
1.1.2. R&M
22,285
-4.0
-3.4
-0.4
9.4
6.9
34,080
-3.7
-4.6
-0.1
4.1
4.2
1.1. Housebuilding
2.
(1 + 2)
2015a
2016b
1.2.1. Private
27,483
-0.4
0.1
0.9
4.9
7.3
1.2.2. Public
6,598
-12.5
-19.1
-3.6
0.8
-8.8
Civil Engineering
21,153
-24.0
-23.0
-5.5
3.0
0.0
111,488
-10.5
-9.5
-1.7
5.6
4.6
Total Construction
2013
2014
2015a
2016b
18,223
14,231
13,352
13,619
14,709
collective dwelling
39,263
16,982
20,291
20,088
21,896
Total
57
23
0
6
10
57,543
31,236
33,643
33,713
36,615
110
110
100
100
9090
8080
7070
6060
5050
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 1,081
‘11
‘10
‘09
‘08
‘07
40
40
POPULATION 2015
46,423,000

Housebuilding
Non residential
Civil Engineering
Total Construction
41
2012
single dwelling
FINLAND
42
In 2015, total construction volume is expected to decrease
for the fourth consecutive year by 1%. New residential
construction volume will continue to decline. New non-residential construction is also ex-pected to decrease for the
year 2015. Investments in civil engineering are expected to
decrease mod-estly. As in previous years, the poor economic
environment in general has meant that building renova-tion
is the only sector that will have a steady growth among all
construction sectors.
In 2016 total construction output will finally grow by 2.5%.
New residential construction is expected to increase by 5
per cent. Also the volume of new non-residential construction will grow. The growth rate of housebuilding renovations
is expected to slow down modestly, increasing by 4%. The
volume of civil engineering will stay at the previous year’s
level in 2016.
Employment in construction averaged 168,500 people at
the end of 2015 according to The Labour Force Survey. Employment recovered as construction volumes started to pick
up at the end of 2015. In 2015 the average unemployment
rate in the construction sector was 10.2% which is lower
than in the previous year (10.5%). The employment outlook
in the sector for 2016 is improving. We expect the average
employment in 2016 to be 171,000 people.
2.Housebuilding
Residential start-ups are expected to amount to 28,500 in
2015. The level of starts is increasing by the active demand
by housing funds. Low interest rates are making housing
investments attractive. But the market is starting to have
a focus as the demand is heavily projected towards small
apartments, especially near public transportation. Consumer demand was still weak as the unemployment rate rose
during the year.
In February, we estimated that there will be 29,000 housing
starts in 2016. Consumer demand is ex-pected to increase a
little bit despite high unemployment during 2016. Therefore,
start-ups are ex-pected to increase modestly in 2016.
During 2015, banks in Finland offered interest only options
for old mortgage loans. Quite a lot of households took this
option and therefore the stock of loans started to increase.
Also new mortgage loans in 2015 started to increase from
previous years. This is a promising sign for the housing
market for 2016 even though the economic outlook is still
uncertain. The households’ debt ratio was 122% in 2014.
The prices of old dwellings have continued to slow down.
During 2015 the price movement was nega-tive in every
residential type. Large apartments are harder to sell in
uncertain times. There are some signs that the housing
chain is starting to move. Transaction volumes, especially in
single family apartments, have increased. The price gap is
also widening between the Helsinki region and other parts of
Finland. Urbanisation will continue in the coming years. It is
at a low level in Finland compared to other countries.
Residential repair, maintenance and improvement work is
increasing steadily. In 2015 the sector was still active as the
government stimulated the renovation of residential buildings
in 2014. We expect that the growth rate of repair and maintenance will slightly decelerate in 2016.
New non-residential construction decreased in 2015.
Non-residential construction is still suffering from the uncertain economic outlook which adversely affected investment
decisions in previous years.
The construction of commercial and office buildings is expected to grow in 2016. The brighter outlook is due to some
large mall investments especially in the Helsinki region. Hotel
investments are also picking up. While the digitalisation
reforms affect especially the commercial sector, there is still
a de-mand for high quality commercial and office buildings
in attractive locations. The population change in the biggest
cities is ensuring that demand will increase.
The brighter outlook in the non-residential sector at the end
of 2015 was in the construction of public buildings. In many
towns hospitals are under construction as well as schools,
which are being both newly constructed and renovated. The
construction of industrial buildings is also starting to increase
partly due to single investments by the forestry industry. Also
investments in the energy sector and information sector,
namely data centres, are supporting the construction of
warehouse buildings.
The outlook for non-residential construction overall in 2016
is bright. We expect the volume of non-residential construction to increase by 2% in the next year. However, if investment does not pick up widely during 2016, the growth in this
sector could be temporary.
The civil engineering sector declined in 2015. Even though
there are ongoing big infrastructure pro-jects,public finance
set constraints for the whole civil engineering sector. The
outlook for civil en¬gi¬neer¬ing for 2016 is not bright
either. New investments are very low as the government’s
austerity pro-gramme is cutting availablefinance. The
government agreed a three year finance package for the
maintenance of roads. This is helping the sector but only
partly. The lack of long-term planning is the greatest source
of uncertainty in the civil engineering sector. We expect that
the level of civil engineer-ing works will stay at the previous
year’s level in 2016.
FINLAND
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
18,718
-5.9
-4.7
-4.1
-0.9
3.4
10,864
-3.6
-3.3
-5.6
1.8
4.4
1.1.1. New
4,454
-9.6
-9.6
-11.6
-3.0
5.0
1.1.2. R&M
6,410
3.1
2.8
-0.6
5.5
4.0
7,853
-9.6
-6.5
-2.3
-0.9
2.0
1.2.1. Private
4,995
-10.9
-14.6
-3.0
-1.5
2.5
1.2.2. Public
2,858
-6.1
4.7
3.0
3.5
1.0
Civil Engineering
6,903
-0.2
1.4
-2.2
-1.0
0.0
25,621
-4.5
-3.2
-3.6
-1.0
2.5
2012
2013
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2016b
2016b
10,200
7,900
7,000
6,200
6,200
collective dwelling
21,600
18,700
22,000
23,000
23,000
Total
2014
1,100
200
400
300
300
32,900
26,800
29,400
29,500
29,500
110
110
100
100
9090
8080
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 206
‘11
‘10
‘09
‘08
‘07
7070
POPULATION 2015
5,487,000

Housebuilding
Non residential
Civil Engineering
Total Construction
43
2015a
single dwelling
FRANCE
In France in 2015, the construction industry faced a sharp
decline in activity by 3.3% in volume terms. Thus, it appears
to be the seventh year of a drop in activity since the
beginning of the Great Recession in 2007-2008, with the
exception of the rebound in 2011. In 2016, the construction
industry’s activity should stabilise. Thus, the lowest level
should have been reached in 2015, corresponding to a
global loss of activity by 21.6% in volume terms since 2007.
However, growth for the construction industry is expected
only in 2017.
Concerning employment, almost 45,000 jobs were lost in
2015, but the drop was slower in the second half of the
year due to the recovery of temporary jobs. In 2016, another
8,000 jobs will be destroyed, with opposite trends between
salaried jobs (-17,000) and temporary jobs (+9,000).
2.Housebuilding
44
Housebuilding activity continued to decline in 2015 (-3.9%
in volume terms), but the fall was lower than 2014 (-11.5%
in volume terms). The number of housing starts, at the same
level as 2014, remained disappointing.
Considering the usual time to complete building
constructions and a sharp increase in housing starts
(+10%), production should rise by 5.5% in volume terms
in 2016. Concerning housing starts, almost 380,000
units should be started, related to the increase in permits
(+13.6%). However, this level remains 18,000 units below
the average observed since 2000.
more, considering the low energy prices;
- The significant rise of housing transactions in 2015
(+10%), which usually lead to additional work during the
two years following the purchase;
- And the extension throughout the French territory of the
Zero-rate loan (PTZ) to the purchase of existing housing
with significant renovation work required.
The new non-residential buildings market fell by 11.3% in
2015, following a decrease of 6.3% in 2014. All market
segments were part of this reduction which was higher for
the public sector (-16.8%) than the private sector (-6.8%).
Building starts, excluding agricultural buildings, declined by
7.3% and reached a new lowest level with 16.9 million m² of
floor area.
In 2016, the global output of non-residential buildings
construction (including agricultural buildings) should decline
again by 5.3% in volume, at the same time as a new fall in
construction starts, excluding agricultural buildings. Indeed,
the expected rise of permits, which reflects the evolution of
the macroeconomic situation, including business investment,
should positively impact construction starts in H2, at best.
More specifically, the activity should remain bearish for all
market segments, excluding agricultural buildings.
As for new construction, the renovation and maintenance of
non-residential buildings should further decrease (-0.5% in
volume terms).
This upturn could be explained by various positive factors:
- a sharp recovery in new housing sales in 2015;
- the strengthening of the Zero rate loan (PTZ) which
should allow 35,000 additional households to buy a new
house;
- credit conditions still advantageous with interest rates
remaining at a very low level;
- finally, the improvement of consumer confidence, which
will reach the level observed before the crisis.
After a 7% decline in 2014, public works output growth
momentum is now at its weakest since 1985. Civil
engineering turnover fell by 8% (in nominal terms) to €36.4
billion. The sector has been deeply affected by successive
expected factors (municipal post-elections and departmental
elections) and extraordinary measures (a €11 billion drop in
State grants to local governments from 2015 to 2017, an
administrative and territorial reform …), which triggered a
significant decline in public investment.
Concerning housing renovation and maintenance, this
market faced sluggish activity in 2015. It fell slightly by 0.2%
in volume terms after falling by -0.9% in 2014. Despite the
new tax credit for energy renovation (CITE), the beneficial
effects of which are obvious, and an attractive VAT reduced
rate (5.5%), growth in “green” construction works’ was
weaker than expected, mainly because of low energy prices.
In 2016, a rise of 1% in volume terms is expected for the
whole of housebuilding. Three factors could have a positive
impact:
- The extension of both CITE and 5.5% VAT reduced rate
for energy renovation to similar conditions as in 2015.
Renovation works should increase marginally, but no
In 2016, risks to the outlook willcontinue towards the
downside. Consequently, civil engineering turnover is
projected to slow down, decreasing by 3% (in nominal terms)
to €35.3 billion.
In 2014, overseas public works turnover amounted to €26.6
billion - a record 8% increase (in nominal terms) year-onyear. French public works exports to the rest of Europe
rose by 13%. The value of overseas contracts to South
America and to the Middle East surged by 22 % and 55%
respectively. French companies are increasingly targeting
new markets, especially emerging markets.
FRANCE
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
117,637
-1.4
-2.3
-4.8
-3.0
0.9
71,565
-2.0
-2.4
-5.9
-1.8
3.0
1.1.1. New
31,135
-3.4
-3.5
-11.5
-3.9
5.5
1.1.2. R&M
40,430
-0.7
-1.3
-0.9
-0.2
1.0
46,071
-0.5
-2.1
-3.1
-4.7
-2.3
1.2.1. Private
24,345
-0.8
-2.0
-2.6
-3.0
-1.6
1.2.2. Public
21,727
-0.2
-2.3
-3.7
-6.5
-3.1
Civil Engineering
35,185
-2.6
3.8
-6.0
-4.5
-3.0
152,822
-1.7
-0.9
-5.1
-3.3
0.0
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2016b
2013
2014
2015a
2016b
230,131
200,285
170,855
177,387
204,407
collective dwelling
249,169
219,615
202,345
201,630
226,086
Total
NA
NA
NA
NA
NA
479,300
419,900
373,200
379,017
430,493
105
105
100
100
95
95
90
90
85
85
80
80
75
75
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 2,160
‘11
‘10
‘09
‘08
‘07
70
70
POPULATION 2015
66,319,000

Housebuilding
Non residential
Civil Engineering
Total Construction
45
2012
single dwelling
GREECE
46
2. Housebuilding
Greece’s economy slipped back into recession in the latter
part of 2015 after growing in Q1 to Q3 2014 and H1 2015.
The country has been in recession for 7 consecutive years.
Its annual GDP decreased by a further 0.87% in 2015, making a total decrease of 27% since the 2008 peak. 2015 was
a year characterised by 2 general elections, “Grexit” fears,
tense bailout negotiations, capital controls and recapitalising of the banking system. While the economy fared better
than initially expected, 2016 is off to a bumpy start and
growth is projected to gain some momentum in H2 2016
as confidence is expected to strengthen and as structural
reforms are anticipated to take place and boost exports and
investment. For 2016 a mild annual recession of -0.7% is
expected, the eighth year of recession in a row. In order for
the country to stabilise its economy and reach the anticipated growth of about 2.7% in 2017, it is crucial that the
triple crisis the country faces, - financial, political and migrant
crises - are dealt with decisively. This includes meeting the
fiscal targets in order to contain debt, further relief of the
huge public debt by international creditors, strengthening
tax administration, reducing non-performing loans and
lifting capital controls that would ease financial constraints
and subsequently open a path for growth. Product market
reforms would improve competitiveness and create jobs and
public administration reforms would reduce the regulatory
burden. Inflation remains low due to the very depressed state
of the economy. Unemployment is expected to decline, but
only gradually.
The present situation in the housebuilding sector is characterised by housing oversupply, crisis-driven lack of demand
in the market, plunging housing prices, capital controls and a
corresponding lack of access to mortgages. All these factors
are being reflected in housebuilding statistics, and the inevitable halt of any new housebuilding projects. The production
index of buildings decreased by 27% compared to 2014 and
95% from 2007. The number of permits decreased by 1%
compared to 2014 and by 77% compared to 2009.
The never-ending financial crisis nightmare has dramatically
shrunk all sectors of the economy, including the construction
sector, where the construction of buildings industry has practically been wiped out.Investments in order to initiate growth
in the economy are needed more than ever and aligned
with this need is the effort of the government to “inflate” the
economy by pushing the utilisation of existing fund lines
into new projects. In this context, several new significant civil
engineering projects have been planned and their inception
is expected to assist the initiation of economic growth.
In 2015 the relevant cost of construction materials dropped
by 3.2%, while the cost of labour fell significantly (-9.6%).
The production index for overall construction decreased by
a further -15% in 2015, or -76% from its peak at 2007. The
situation in the building sector is dramatic, where decreases
of 27% from last year and 95% from the 2007 peak have
practically eradicated the whole sector. In civil engineering
projects the decrease –was 12% from last year and 22%
from the 2007 peak.
The general unemployment rate seems to have stabilised at
a very high level of 24.9%, giving a sign of a slight recovery
from 26.5% last year. The unemployment rate in young people (up to 24 years old) is at the extremely high level of 54%.
The non-residential buildings sector is closely influenced by
the overall economic activity and consequently has followed
the same path. Despite the fact that there are no formal
national statistics available this year for the sector, it is
expected to be analogous to the significant drop seen in the
housebuilding sector.
This sector, consisting mainly of public investment and joint
EU projects, showed a significant drop in figures. The sector’s index decreased by -12% compared to 2014, or -22%
compared to the 2007 peak. This reflects the liquidity problem of the state, the overall economic problems mentioned
earlier and the consecutive public spending cuts, due to the
austerity measures. These figures are very low compared
to earlier years and more investment in civil engineering
projects is required, in order to build sustainable growth.
For 2016, the sector’s figures are expected to decline further due to cuts in public spending and delays in EU funding
of new infrastructure projects.
GREECE
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
1,396
-38.0
-31.1
-53.3
-26.9
NA
NA
NA
NA
NA
NA
NA
1.1.1. New
NA
NA
NA
NA
NA
NA
1.1.2. R&M
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1.2.1. Private
NA
NA
NA
NA
NA
NA
1.2.2. Public
NA
NA
NA
NA
NA
NA
6,724
12.8
-5.9
1.3
-12.1
NA
8,120
-16.3
-16.7
-17.9
-15.1
-17.0
1.1. Housebuilding
2.
(1 + 2)
Civil Engineering
Total Construction
2016b
2012
2016b
NA
NA
NA
NA
NA
collective dwelling
NA
NA
NA
NA
NA
Total
2013
2014
NA
NA
NA
NA
NA
22,627
16,384
13,383
13,257
NA
140
140
120
120
100
100
80
80
60
60
40
40
20
20
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 176
‘11
‘10
‘09
‘08
‘07
00
POPULATION 2015
10,858,000

Building
Civil Engineering
Total Construction
47
2015a
single dwelling
HUNGARY
The output of the economy grew by 2.9% in 2015 and
the value of gross domestic product amounted to Forint
33,711 billion at current prices. The 2.9% growth of the
gross domestic product in 2015 was due primarily to the
engineering industry and the service sector, in particular
commerce and tourism.
On the production side the gross value of the industry
increased by 6.3%, the construction industry by 2.9%, the
service sector by 2.8 % but agriculture decreased by 12.9%
in 2015.
Household consumption increased by 2.6% and community
consumption increased by 0.6%. As a result, final
consumption was up 2.3%. Gross fixed capital formation
and gross capital formation improved by 1.9% and 0.5%,
respectively. Domestic consumption increased by 1.9%. The
growth of exports was 8.4% and imports, 7.8 %.
48
In 2015 the annual average number of employees was
4,260,000, i.e. 159,000 higher than in 2014. The rate of
employment of people aged 15-64 was 63.9% on average
in 2015, i.e. 2.1% higher compared to the previous year.
In 2015 construction of both buildings and other structures
showed an increase of 4.3% and 1% respectively, and
construction companies concluded new contracts, the
volume of which was 7.3% lower than a year earlier. The
whole construction industry implemented constructionassembly works of HUF 2,172 Billion (approximately € 6.9
Billion) at current prices, the volume of which was 3% higher
than in 2014.
In 2015, prices in the construction industry were 2.5%
higher on average than in the previous year.
At the end of December 2015 there were 89,093
construction organisations registered in the sector, including
private entrepreneurs, which is 3,296 less than in late
2014. The number of existing undertakings included in the
above figure is around 82,000. The number of construction
undertakings registered by the Hungarian Chamber of
Commerce and Industry was 58,000 at the end of 2015.
According to the population employment data of KSH
[Central Statistical Office of Hungary], the current number
of employees is 276,700, representing 6.5% of the total
number of employees in the whole national economy.
The 2015 acceleration was primarily the result of public
works – dominated by road and railway construction, other
infrastructure, sporting facilities and health care projects –
implemented from EU funds. The earnings of companies
engaged in this subsector considerably increased. The
market for companies engaged in private works stagnated.
Home renovation and building is at a historically low level
and housing companies had lost 80% of their market by the
beginning of 2015, compared to 2006.
The volume of orders at the end of 2015 and the number
of new contracts were 48% less than they were one year
earlier. The estimated output of the Hungarian Construction
Industry will be approximately HUF 1,800 in 2016 (approx. €
5.8 Billion).
2.Housebuilding
In 2015, 7,612 new homes were built in the country, i.e.
8.9% less than the previous year. Although this decline is
compared to a very low base level. In order to sustain the
value of the national property assets 30-40 thousand new
dwellings need to be constructed annually.
The proportion of dwellings built by private investors
increased and that of homes built by real estate investors
decreased in 2015.
Since the 2008 downturn in home-building, from year to
year less and less new homes have been constructed. In
2015 the number of newly built homes was only 1/5 of
that in 2008. The number of building permits for residential
construction was 12,515 in 2015, which is 29.9% higher
than a year earlier.
The proportion of new family homes within the newly built
residential buildings showed a decrease from 57% to 56%
and multi-storey condominium buildings decreased from
39% to 35%. The proportion of homes in residential parks
increased from 1% to 7%.
The average floor space of the dwellings that were
completed in 2015 was 101m² and this value is practically
the same that it was a year earlier.
FR © Auremar - Fotolia.com
HUNGARY
collective dwelling
Total
GDP 2015
€ 109
BILLION
POPULATION 2015
9,855,000
2015a
2016b
5,019
2013
3,654
2014
4,133
5,153
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
10,600
7,536
9,633
12,515
NA
49
2012
single dwelling
IRELAND
50
The value of output in building and construction is estimated
to have increased by 14% in current prices in the year to
December 2015. Construction output is estimated to have
reached a value of €12.5 billion or 7.5% of Gross National
Product (GNP) in 2015.
According to DKM Economic Consultants (2012), if compared
to the size of the construction industry in other countries and
long term trends in terms of Irish construction output as a
percentage of GNP, an economy the size of Ireland should
be capable of sustaining a construction industry equivalent to
around 12% of GNP (10% of GDP) over the medium-term,
without the negative repercussions associated with periods of
rapid growth. This would result in an industry of around €15
billion and the corresponding employment level is likely to be
closer to 170,000.
Regrettably, the construction sector has been one of the
largest contributors to growth in unemployment. The total
number of people unemployed in Ireland as of December
2015 was 321,000 compared to 156,000 people in
December 2007. However, direct construction employment
rose to almost 127,000 in the Q4 2015. This figure was up
from 102,600 in Q4 2012.
2. Housebuilding
A total of 12,666 housing units were completed in 2015.
While residential construction activity appears to be slowly
picking up in the principal urban centres, demand continues to
far outstrip supply, which in turn is putting upward pressure on
prices and rents.
Figures from the Central Statistics Office indicate that
Ireland’s population will continue to grow from 2016 to 2031.
Growth is forecasted at between 320,000 and 630,000.
In particular, the greater Dublin area will see the largest
proportionate growth, with projections of population increases
of between 249,000 and 402,000, indicating a rate of growth
of 20,000 per annum.
The national Housing Agency published a report in April 2014
predicting that the requirement for new housing in urban
settlements nationally ranged from 9,526 units in 2014 to
20,853 units in 2018. Within the Dublin region, the figures
showed an immediate supply requirement of 5,663 units in
2014, which will rise to an annual requirement of 8,970 units
in 2018. However, just 2,891 units were completed in Dublin
in 2015 representing a drop of -11.5% year on year.
With an expected output of €3.5 billion over the two year
period 2015-2016 a strong recovery is anticipated in the
coming years. This sector includes the areas of industrial,
commercial, tourism and agricultural building investment,
with industrial and commercial building projects expected to
account for up to 90% of the investment, with 60% and 30%
respectively. Activity is forecast to pick up considerably in
2016, with €2.1 billion of investment expected.
In relation to the office market, evidence of non-NAMA
(National Asset Management Agency) schemes under
construction or at planning stage indicate construction of
approximately 132,000 m² of office space in Dublin across
the period 2015-2017/18. There is also an increased
level of demand for Greenfield sites in the industrial and
manufacturing sectors, and the IDA (Ireland’s inward
investment promotion agency) intends to upgrade its regional
business parks as well as building new advanced technology
units with a fund of €150 million.
Significant opportunities for the construction sector are also
being generated by the Foreign Direct Investment (FDI)
sector, with the expansion of existing FDI companies and the
relocation of new companies to the Irish market expected to
have an impact on the sector in 2016 following an increased
level of investment seen in 2015.
Public sector spending allocations are indicated in the
Government’s Capital Spending Plan (Building for Recovery
2016-2021). The Building for Recovery 2016-2021 plan
allocated a total spend of €27 billion. Of this, there will be
a €9.6 billion capital envelope for transport provided over
seven years. This will include €6 billion for investment in the
national, regional and local road network and €3.6 billion in
Public Transport. The Capital Plan provides €3.8 billion in
direct Exchequer funding for investment in primary, secondary
and third level education facilities, combining the upgrade
and extension of existing educational infrastructure and the
provision of new buildings.
The Capital Plan includes just over €3 billion for investment
in health infrastructure. Almost €3 billion will be provided to
support the Social Housing Strategy 2020, which aims to
increase the supply of social housing by up to 35,000 units
and contribute significantly to meeting the housing needs of
households on the housing list.
The Capital Plan is allocating €444 million for investment
in energy efficiency and renewable energy programmes
from 2016 to 2021. This will provide additional funding for
investment in domestic energy efficiency improvements.
To address flooding, €430 million is being provided under
the Plan for flood mitigation initiatives to protect threatened
localities from river and coastal flood risk.
Irish Water plans to invest €4 billion over the period 2016-2021.
There will also be investment of around €2 billion by the other
commercial State companies, primarily in airports, ports, public
transport, forestry and biomass.
The Ireland Strategic Investment Fund has a value of around
€20 billion and aims to invest €7.5 billion over the period
of the Capital Plan. In addition, the Fund will be seeking to
attract private sector partners, through co-investment, in order
to realise a potential total investment of some €15 billion in
the economy over this period. Potential areas for investment
by the ISIF include energy, transport, water, housing, SME
investment, and food and agriculture.
IRELAND
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
2016b
Building
8,610
0.5
5.0
10.4
10.1
19.9
5,612
-8.7
-0.9
12.7
10.4
19.9
1.1. Housebuilding
1.1.1. New
2,430
-6.1
2.3
28.0
13.3
37.7
1.1.2. R&M
3,183
-10.1
-2.7
3.7
8.3
6.3
2,997
27.0
17.4
6.3
9.4
19.9
1.2.1. Private
1,561
82.1
28.7
4.8
10.7
26.9
1.2.2. Public
1,436
-0.3
7.1
7.9
8.1
12.3
Civil Engineering
3,297
-6.3
-3.0
8.9
4.0
5.8
11,907
-1.7
2.5
9.9
8.3
16.0
2012
2013
2.
(1 + 2)
Total Construction
collective dwelling
Total
2015a
2016b
5,389
6,002
2014
6,626
NA
NA
861
1,197
785
NA
NA
NA
NA
NA
NA
NA
6,250
7,198
7,411
NA
NA
160
160
140
140
120
120
100
100
80
80
60
BILLION
2016b
2015a
‘14
2010 = 100
GDP 2015
€ 199
‘13
‘12
‘11
‘10
60
POPULATION 2015
4,635,000

Housebuilding
Non residential
Civil Engineering
Total Construction
51
single dwelling
ITALY
52
2.Housebuilding
The downward trend in the Italian construction activity slowed
down in 2015, with the estimate by the National Association
of Italian Constructors (ANCE) indicating a decrease in sector
investment of 1.3% in real terms from last year, following the
more significant drops in previous years (-7% in 2013, and
-5.2% in 2014).
The year 2015 represented the 8th consecutive year of crisis
and the sector has experienced an overall investment loss
of 34.8% from 2008. Over the last 8 years (2008-2015),
housebuilding declined by 61.1%, non-residential building
by 35%, and civil engineering by 48.7%. Only housing
redevelopment increased by 19.4% over the same period,
also due to the stimulus effect produced by the tax relief
for the redevelopment, requalification and energy efficiency
works on the housing stock.
However, amid the negative production context, the positive
signals that already emerged in 2014 in the number
of housing transactions, housing mortgages issued to
households, and calls for tender in civil engineering, have
been reconfirmed.
The number of housing transactions in the first three
quarters of 2015 increased by 5.3% from the same period
of the previous year, following a +3.6% in 2014. One of the
main driving forces behind the housing market’s recovery
is certainly the renewed viability of housing mortgages to
households that continued to increase, in the first three
quarters of 2015, registering a +64.5% from the same period
of the previous year.
By contrast, a solution has not been devised yet to the credit
crunch problem for construction companies: in the first 3
quarters of 2015, the mortgages issued in Italy to private
companies for financing housebuilding investments dropped
by 4.3% compared to the same period of 2014 (the drop in
2014 was -18.3% compared to 2013).
Mortgages issued to private companies for non-residential
building investment have, instead, increased both in 2014
(+6.7% from 2013) and in the first 3 quarters of 2015 (+94%
compared to first 3 quarters of 2014). This early positive signal
comes after seven consecutive years of downward trend, with
the overall drop in new mortgages for non-residential building
between 2007 and 2014 amounting to 71.7%.
Calls for tender in civil engineering increased both in number
(+13.9%) and in value (+10.8%) over the first 10 months of
2015 from the previous year, confirming the positive trend
started in 2014.
The year 2016 may represent the turning point for the
recovery of the construction sector. ANCE’s outlook for 2016
is positive and it envisions a 1% increase of construction
investment in real terms, which will interrupt the ongoing
negative trend started in 2008. The trend reversal will be
triggered by a further growth in the redevelopment of the
existing stock for housing purposes, by a change of direction
in civil engineering after a decade of downturns, and by the
slowing down in the fall of new house construction and nonresidential building’s production levels.
For the year 2015, ANCE estimates a 1.4% real term decline
in housebuilding, as a combined result of the decrease of
investment in new constructions (-6%) and the increase in
the redevelopment for housing purposes (+0.8%). The fall in
new house construction is affected by the downward trend in
construction permits, which have been steadily declining over
the last decade. According to the National Institute of Statistics
(ISTAT), the number of house construction permits, both for
new constructions and extensions, issued in the first half of
2015 declined by 10.7% compared to H1 2014. The estimate
for 2015 is 54,000 new house construction permits, which
represents an overall decline of 82.3% from 2005.
New contracts are expected to continue their decline in 2016,
even if at a slower rate, due to a further fall in the development
of new housing units (-3.5% in real terms), only modestly
compensated by the increase in the redevelopment of the
existing stock for housing purposes (+1.5%). Overall, the 2016
investment in housebuilding is expected to reach roughly the
same level as 2015.
In 2015, the production levels of private investments in
non-residential buildings continued their negative trend,
registering a 1.2% decline in real terms from 2014.
According to ANCE’s survey of associated companies,
despite the protracted fall in production levels, the business
sentiment is less negative than what emerged in previous
surveys and, after years of severe downturn, the number of
mortgages issued to private companies for non-residential
building investment is reported to have increased starting
from the fourth quarter of 2014.
The volume of private investments in non-residential building
is expected to register a 0.4% decrease in 2016.
According to ANCE’s estimates for 2015, civil engineering
investment decreased by 1.3% in real terms: a minor negative
variation if compared to those from previous years (-9.3% in
2013; -5.1% in 2014).
Moreover, ANCE’s forecast for 2016 suggests a 6% increase
in real terms, also taking into account that some measures
contained in the Italian 2016 Budget Law (‘Disposizioni per
la formazione del bilancio annuale e pluriennale dello Stato
- Legge di Stabilità 2016’) are expected to act on those
economic and financial obstacles that prevented the carrying
out of public works in Italy, over the last years.
The envisioned measures will, in fact, remove the internal
Stability and Growth Pact and, thanks to the so-called
European “investment clause”, will boost the 2016 expenditure
for programmes already approved, as well as the amount of
allocated resources (+4.5% in real terms compared to 2015).
ITALY
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
105,155
-7.1
-6.7
-5.2
-1.4
0.3
63,110
-4.4
-3.7
-4.1
-1.4
-0.1
1.1.1. New
19,837
-11.1
-13.4
-13.9
-6.0
-3.5
1.1.2. R&M
43,273
0.8
2.9
1.5
0.8
1.5
42,045
-10.6
-10.8
-6.8
-1.2
0.9
1.2.1. Private
33,567
-10.6
-11.2
-7.3
-1.2
-0.4
1.2.2. Public
8,478
-10.6
-9.3
-5.1
-1.3
6.0
Civil Engineering
14,435
-10.6
-9.3
-5.1
-1.3
6.0
119,590
-7.6
-7.0
-5.2
-1.3
1.0
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2016b
2013
2015a
2016b
14,123
12,025
NA
NA
NA
collective dwelling
10,471
12,130
NA
NA
NA
NA
NA
NA
NA
NA
24,594
24,155
NA
NA
NA
Total
2014
100
100
90
90
80
80
70
70
60
60
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 1,636
‘11
‘10
‘09
‘08
‘07
50
50
POPULATION 2015
60,796,000

Housebuilding
Non residential
Civil Engineering
Total Construction
53
2012
single dwelling
IT © Riccardo Arata - fotolia.com
LITHUANIA
54
LITHUANIA
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
1,134
-6.8
15.3
23.7
2.9
NA
354
17.3
13.2
50.2
36.5
NA
1.1. Housebuilding
(1 + 2)
2015a
2016b
1.1.1. New
161
-1.3
41.2
47.7
-16.7
NA
1.1.2. R&M
193
65.5
-30.1
58.0
191.8
NA
779
-11.2
15.8
17.3
-7.5
NA
2.
1.2.1. Private
599
0.2
13.0
20.7
-2.8
NA
1.2.2. Public
180
-32.1
23.6
8.9
-20.3
NA
Civil Engineering
949
-8.1
8.0
10.4
-13.4
NA
2,082
-7.5
11.3
16.7
-5.2
NA
Total Construction
collective dwelling
Total
2015a
2016b
5,277
2013
6,447
2014
5,846
6,074
NA
91
114
85
116
NA
10
10
14
2
NA
5,378
6,571
5,945
6,192
NA
120
120
100
100
80
80
60
60
40
40
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 37
‘11
‘10
‘09
‘08
‘07
20
20
POPULATION 2015
2,890,000

Housebuilding
Non residential
Civil Engineering
Total Construction
55
2012
single dwelling
THE NETHERLANDS
The Dutch economy is developing steadily with 1.8%
growth this year and 2% next year. The economy grew
by 0.9% in 2015. The decrease in natural gas production
will dampen this year’s growth by 0.2%. Both in 2016 and
2017, all spending categories are contributing to economic
growth. Consumption is growing because of an increase
in real disposable incomes, a higher employment level, and
the delayed impact of a €5 billion package of measures to
reduce the financial burden. The stable economic growth is
coupled with a limited decrease in unemployment, down to
6.5% this year and 6.3% in 2017. Inflation is not expected
to break the 1% barrier until after 2017. The government
deficit is projected to drop to 1.7% of GDP this year and
1.2% next year.
56
After many years of malaise the construction industry started
to recover in 2014. Last year construction output grew very
strongly (7%) partially due to the tax incentives for housing
renovation and maintenance. An increase of some 4.5% is
expected in 2016. This expansion is significantly stronger
than in other branches of the economy. Although optimism
is growing and is fuelling the residential market, the nonresidential market and the infrastructure market are not
benefiting in an equal way, making the current recovery still
rather one-sided. Moreover, profitability will take much longer
to recover.
2.Housebuilding
Recovery of the housing market, which began in 2014, is
projected to continue. According to the projections, the pace
of house price increases will accelerate slightly. The increase
in the number of transactions of existing privately owned
houses, after having peaked over the last years, will continue
at a more moderate level. The resurgence of the housing
market has induced a strong recovery in new building
permits. The total number of building permits increased
from 28,000 in 2013 to 55,000 last year. In 2016, a further
increase of some 10,000 permits is forecast.
Starting this year building completions will also begin to
recover. However, these numbers are still much lower than
the levels needed to satisfy demand. For 7 years now, the
number of dwellings added to the housing stock has been
lower than the number of new households. The current
strong inflow of asylum seekers in the Netherlands means
that the necessary number of dwellings in the coming years
will be much higher than was thought earlier. A conservative
estimate, with a gradually decreasing inflow in the coming
years, suggests a need of 50,000 extra dwellings in the
coming 5 years.
After a loss of half its volume in 2009-2014 new residential
output will expand by 13-20% yearly in 2015-2017.
Renovation and maintenance has strongly benefited from the
low VAT rate for housing renovation. Due to the expiry of this
measure, renovation and maintenance output will increase
only at a modest rate this year.
Non-residential construction has lost some 21% of its output
in the crisis. The improvement in the economic situation and
favourable export opportunities ensured a steady recovery
from 2014 on, but due to high vacancy rates for some types
of buildings, the continuing effect of consolidation measures
and the negative effects of the transformation of the health
care system, this growth will be very modest.
New non-residential output stabilised in 2015, but for this
year an increase of some 4% is expected. The construction
of industrial buildings, storage buildings, commercial
buildings (commerce, hospitality, catering industry and
buildings for transport and communication) will show positive
growth rates. On the other hand, investments in office
buildings, buildings for education, health care and for the
agricultural sector are expected to decrease.
The output in renovation and maintenance has fallen strongly
in recent years. In the years to come output will be driven by
the necessity to catch up on the postponed maintenance
work, by rebuilding of existing logistical facilities to make
them suitable for e-commerce and by the expanding
reconstruction of office buildings into other uses. As a result,
the outlook for the renovation and maintenance sector is
quite favourable. In both 2015 and 2016 output will increase
by some 3.5%.
The civil engineering market has been hit by the economic
crisis and austerity measures in the past years. The central
government has prioritised expenditures and has lowered
its contribution to the ‘Gemeentefonds’ accompanied by
the transfer of tasks (care, labour market) to municipalities.
At the same time this is leading to prioritisation of
local expenditure and the conservation of infra deficits.
Nevertheless, civil engineering output increased some
2.75% last year. In 2016 civil engineering output will rise
by 2%. As in the recent past this growth will be mainly
accounted for by new construction. An important factor
is the sharp rise in the housing market that calls for new
investment in building sites and utility networks.
THE NETHERLANDS
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
43,450
-9.0
-5.2
1.1
8.7
5.3
23,250
-11.6
-7.3
0.6
15.2
6.5
1.1.1. New
10,500
-16.8
-12.3
-4.5
23.2
13.3
1.1.2. R&M
12,750
-6.3
-2.8
4.7
9.4
0.8
20,200
-6.1
-3.0
1.7
2.0
4.0
1.2.1. Private
NA
NA
NA
NA
NA
NA
1.2.2. Public
NA
NA
NA
NA
NA
NA
Civil Engineering
14,000
-8.1
-4.7
2.4
2.8
2.1
Total Construction
57,450
-8.8
-5.1
1.5
7.2
4.5
2012
2013
1.1. Housebuilding
2.
(1 + 2)
2015a
2016b
2016b
NA
NA
NA
NA
NA
collective dwelling
NA
NA
NA
NA
NA
Total
2014
NA
NA
NA
NA
NA
38,752
28,131
40,170
55,000
65,000
130
110
120
100
110
90
100
90
80
80
70
70
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 678
‘11
‘10
‘09
‘08
‘07
60
60
POPULATION 2015
16,937,000

Housebuilding
Non residential
Civil Engineering
Total Construction
57
2015a
single dwelling
POLAND
After a slowdown in GDP in 2013 (+ 1%), the economy
returned to a growth path with rates of 3 % in the years
2014 and 2015 and a further growth of 4% is predicted
for this year. In the construction sector the small setback,
a response to the completion of projects for the European
Football Championships in 2012, especially in civil
engineering, has been overcome.
Investment in this sector by private investors is closely linked
to the overall economic development. Real GDP expanded
by 3.3% last year, a further growth of nearly 4% is expected
for 2016. Factors such as a high capacity utilisation, high
availability of loans combined with low interest rates and the
ability of a lot of companies to finance investment with their
own funds will drive the sector in 2016.
Construction investment, which grew by more than 20% in
2014 and 2015, will exceed the increase in overall economic
development with an expected rise of 5% in real terms in
2016. The volume of total construction output is expected
to reach 53.5 billion Euros. The share of GDP, attributed to
construction activity, will be around 11.5%, compared to the
peak of 12.9% in 2008.
Additionally foreign investors are still highly interested in the
polish market focusing on industry. They regard Poland as a
hub for Eastern Europe still benefitting from large payments
from the EU structural funds to attract investment. Therefore
industrial buildings are likely to grow at a higher pace than
the rest of the sector. After two years with higher production
the growth rate for new office buildings will slow down, the
same goes for storage buildings. Nevertheless the private
market will show a substantial surplus.
Due to the slowdown in output, construction prices fell
by more than 4% from 2012 to 2014. Following a mere
stagnation last year, 2016 will see a rise in output prices by
more than 1% this year.
58
2.Housebuilding
Last year the number of permits for houses and flats was
7% higher than 2014, the total figure rising to 167,000
units. The growth was not as high as in 2014 but still
remarkable. The development is supported by historically
low mortgage rates. Long term rates have significantly fallen
from 6% in 2011 to 2.7% last year. Additionally the labour
market showed positive signs. Within three years 400,000
new jobs were created and unemployment fell by nearly the
same figure.
Expectations for the disposable income of private
households in 2016 are positive and thus helpful for
residential construction. As in other European countries
investors are seeking fields of activity where yields are
higher than in the capital market. Together with a small rise
in construction prices the demand for new flats and houses
allows for a satisfactory return on investment.
The government programme “Home for the Young”, initiated
in 2014, is aimed at younger people up to 35 years old and
delivers subsidies to buy the first home. Since the start more
than 23,000 loan agreements have been concluded in this
programme with a total value of more than one billion Euro.
2016 investment into the existing housing stock (+3%) will
stay behind the development in new residential construction
(+5%). With a share of less than one third of total residential
investment its influence on residential construction is much
smaller than in Western Europe (more than 60%).
Contrary to this, public investors are likely to show some
resistance in financing new public buildings. Last year the
value of new orders was about 10.5 lower than in 2014, to
a large extent due to the limited financial scope of action
on the local sphere. The use of money from EU funds in the
new financing period 2014-2020 is taking more time than
expected.
The new Polish government, elected in 2015, has
announced that infrastructure is high on their agenda. The
Minister for Infrastructure and Development is eager to raise
the competitiveness of the rail system and will undertake
a revision of the existing programs in all kinds of transport
infrastructure. Special focus will be given to investments cofinanced by the EU.
The modernisation of transport infrastructure is necessary to
fulfil the needs of international investors in Polish industry.
Although some progress has been achieved in the past
years there is still a lot to do. Among the 13 MOE-states of
the EU, the quality of Polish infrastructure was only rated as
number 11 last year.
The new government is therefore concentrating its efforts
on this sector. 2016 investment into transport infrastructure
is likely to grow by nearly 15%, with about 20% in road
construction. Especially in railways the investment will
primarily go into the upgrading and modernisation of existing
lines.
POLAND
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
35,500
-0.3
-1.0
16.2
5.0
1.4
11,600
16.3
0.0
3.7
4.5
4.3
1.1.1. New
8,100
17.2
-1.3
2.7
6.6
4.9
1.1.2. R&M
3,500
14.3
3.1
6.1
0.0
2.9
23,900
-7.9
-1.6
23.4
5.3
0.0
1.2.1. Private
NA
NA
NA
NA
NA
NA
1.2.2. Public
NA
NA
NA
NA
NA
NA
18,100
-1.8
-13.5
19.1
7.7
12.2
53,600
-0.9
-5.5
17.1
5.9
5.0
1.1. Housebuilding
2.
(1 + 2)
Civil Engineering
Total Construction
2015a
2016b
2013
2014
2015a
2016b
81,999
71,740
79,000
84,000
82,000
collective dwelling
74,453
59,753
77,000
83,000
85,000
Total
NA
NA
NA
NA
NA
156,452
131,493
156,000
167,000
167,000
140
140
130
130
120
120
110
110
100
100
BILLION
2016b
2015a
‘14
2010 = 100
GDP 2015
€ 445
‘13
‘12
‘11
‘10
9090
POPULATION 2015
38,482,000

Housebuilding
Non residential
Civil Engineering
Total Construction
59
2012
single dwelling
PORTUGAL
60
After the 6.8% GDP fall observed throughout the 2011-2013
period, the Portuguese economy has been slightly recovering
with annual growth rates of 0.9% in 2014 and 1.7% in 2015.
For 2016, there is a forecast of +1.7% for the Portuguese
economy. Domestic demand contributed positively to GDP
growth in 2015, mainly due to total investment evolution
(+5.6%) and private consumption growth (+2.6% annual
growth rate). In contrast, the contribution of net exports
to GDP was once again negative (-0.5%, after the -1.2%
contribution observed in the previous year).
In 2015, the public deficit was expected to decline from
7.2% in 2014 to 3% of GDP. However, a new problem
with the financial system, which occurred during the last
days of the year (the capitalisation of BANIF), may force
an upward revision of the deficit. During 2015, the labour
market performed positively with a rise in the number of
active workers (+1% for the year), and a decrease in the
unemployment rate from 13.9% in 2014 to 12.5% in 2015.
Construction sector employment remained stable against
the previous year, with an average of 275,600 workers.
After a long period of consecutive falls in construction
sector production, the output of the sector increased 3%
in real terms during 2015, with all its segments performing
positively. This evolution followed a slight recovery in cement
consumption (+6.6%, in homologous terms, up to September)
and a great dynamism in real estate (purchase and selling
market) and in the building segment (new construction and
R&M works).
Still, almost 760 construction firms went bankrupt (907 the
previous year) and bank credit to the construction sector fell
around 9% (-14% during 2014).
Although positive, construction output evolution is expected to
slowdown in 2016 with a forecast of +2.5% growth rate.
2.Housebuilding
In 2015, the house building segment production increased
by 5%, the first positive evolution in the last 14 years. During
the previous 13 years, this segment output dropped 70%,
in real terms. The house building segment recovery is in
line with the better performance of the real estate market
that has experienced an increase in housing sales, partly
due to demand from foreigners. As a consequence of this
larger demand, there has been a reduction in the stock of
dwellings for sale and a sharp stimulation of the maintenance/
rehabilitation segment.
Thus, in 2015, the R&M works segment performed more
positively than new works (+8% and +3.4%, respectively,
in real terms). As real estate available indicators point to the
maintenance of a strong market in the coming years, forecasts
for 2016 replicate the 2015 scenario, with evolutions of
+6.9% and +2.4% being anticipated for the R&M and new
works segments respectively. As well as production volume,
the evolution in new dwellings construction permits was
also positive in 2015, after a long period of falls (during 15
consecutive years, the number of new dwellings construction
permits decreased). In fact, until the end of November, there
were 7,413 permits issued, reflecting an increase of 18.7%
facing the homologous period.
On the other hand, the information on the number of dwelling
completions, available until September 2015 shows that they
continued on a negative path, with only 5,900 completions,
reflecting a drop of 27.5% in homologous terms.
2015 was the first year with a positive evolution in the
production of the non-residential segment, since 2009. As
there was a positive growth rate in both private and public
components (+7% and +2%, respectively), the total segment
output grew 5.1%, in real terms.
Following INE data, the evolution of non-residential building
permits (m²), considering all types of buildings, maintained a
negative path along 2015 (-3.4% until November), but more
moderate than in previous years (-4.7% in 2014 and -5.3% in
2013). Tourism and agriculture buildings were the categories
where the negative evolution was more pronounced in 2015,
with declines, facing homologous period, of -34% and -10%,
respectively.
In contrast, commercial buildings and transportation buildings
areas increased sharply with homologous growth rates of
+132% and +23%, respectively.
For 2016, the non-residential construction segment is expected
to maintain a positive evolution, in line with the GDP positive
performance anticipated for 2016, with a forecast for the total
segment output of +3.1% growth. Both private and public
components of this activity segment are expected to expand
output production (+4% and +1.5% in real terms, respectively).
Although positive, the civil engineering segment is expected to
have the weakest performance, among the various segments
of the construction sector during the period 2015 - 2016. With
forecast evolutions of +1% in 2015 and +1.5% in 2016, its
production value will remain very far from the annual production
reached in 2009, from when successive output decreases have
occurred.
This strong reduction in civil engineering output (-32% over 5
years) was the result of the severe cuts in public investment,
that took place in the framework of the financial assistance
programme that Portugal signed in 2011 with the European
Union, the European Central Bank and the International
Monetary Fund.
Throughout 2015, public works market figures performed
negatively, with a sharp homologous decrease in the amount of
public contracts awarded for civil engineering works. Even so,
for 2016 this activity segment output is expected to increase
1.5% in real terms, due to the expected positive effects of the
launch of some projects under the new European Structural
Funds Package Portugal 2020 and other European Financial
Programs.
PORTUGAL
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
5,571
-16.0
-15.9
-7.8
5.0
3.5
2,611
-20.0
-18.0
-10.0
5.0
4.0
1.1.1. New
1,671
-23.4
-23.3
-19.9
3.4
2.4
1.1.2. R&M
940
-4.9
0.6
16.7
8.0
6.9
2,959
-11.8
-13.8
-5.7
5.1
3.1
1.2.1. Private
1,849
-13.0
-13.0
-2.0
7.0
4.0
1.2.2. Public
1,110
-10.0
-15.0
-11.0
2.0
1.5
Civil Engineering
5,478
-15.0
-14.0
-1.0
1.0
1.5
11,048
-15.5
-15.0
-4.5
3.0
2.5
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2015a
2016b
2012
2016b
8,478
5,646
5,242
6,205
6,957
collective dwelling
2,764
1,675
1,543
1,801
1,850
Total
2013
2014
NA
NA
NA
NA
NA
11,251
7,321
6,785
8,006
8,807
120
120
100
100
80
80
60
60
40
40
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 179
‘11
‘10
‘09
‘08
‘07
20
20
POPULATION 2015
10,328,000

Housebuilding
Non residential
Civil Engineering
Total Construction
61
2015a
single dwelling
ROMANIA
In 2015, the construction industry recorded the first signs
of recovery after a period of continuous fall between the
years 2009 - 2014. In 2015 there was an increase of
10.4% in the volume of output in the construction sector,
which amounted to €9.84 billion against € 8.94 billion in
2014.
Investment expenditure, including capital expenditure, as
well as that relating to development programmes was up by
5.2% compared to 2014, reaching €9.3 billion compared to
€7.36 billion in 2014.
Net investments in new construction accounted for 38.4%
in Q1 to Q3 2014, and in the same period of 2015, 46.8%.
62
In December 2015 compared to December 2014, the
volume of construction works increased by 14.2%.
Maintenance and current repairs increased by 5.8%
and new construction works by 6.6%. Capital repair
works increased by 71.6%. On construction objects
were decreased by 23.8% on residential buildings, nonresidential buildings by 16.2% and increased by 41.2% in
construction engineering.
In 2015, compared with 2014 the volume of construction
works increased by 10.4%.
On structural elements:
- New construction works increased by 5.2%.
- Capital repair works increased by 31.8%
- Maintenance and repairs increased by 13.3%
The volume of construction works on construction objects:
- Non-residential buildings increased by 1.1%.
- Residential buildings decreased by 5.8%
- Engineering construction increased by 20%.
Amidst the volume of production in the construction
sector increasing compared to that in 2014, the average
number of employees in the sector was 361,000 in 2015
compared to 348,000 people registered in 2014.
Gross average earnings in November 2015 were €464,
16.6% higher than in 2014 (€399).
2. Housebuilding
In December 2015, the volume of construction works in the
residential buildings sector decreased by 23.8% compared
to December 2014.
In 2015 the volume of works residential buildings
decreased by 5.8% compared to 2014.
In 2015 36,487 building permits were issued for residential
buildings, compared to 2014 when there were 37,672
permits.
Estimates for Q1 2016 show a decrease in the volume of
residential building work, and the number of permits to be
issued.
In the year 2015 compared to the year 2014 the volume
of non-residential buildings increased by 1.1%, a result
which was obtained by the investment increase in the
development of shopping centres and office buildings.
A total of 237 building permits were issued for
administrative buildings.
In engineering, the volume of construction works increased
by 20% in 2015 compared to 2014. An increase of 41.2%
was recorded for the month of December 2015 compared
to December 2014.
This result was possible thanks to a higher volume
of financial resources allocated to investments and a
greater volume of European funds allocated to sectorial
programmes.
In 2015, the Transport Ministry received a budget of €2.9
billion. Based on these allocations construction works in
various highway sections such as Lugoj - Deva, Timisoara
highway - Lugoj highway and Deva – Sibiu were continued.
In addition, work continued on the Transylvania highway.
In railway infrastructure, work continued on the
modernisation and renovation of the Curtici Sighisoararailway section and on the modernisation of
30 railway stations. , works integrated European railway
Corridor IV.
Work also continued on the Bucharest subway Line 5. This
is scheduled to be finished in 2016.
A major target of scientific research is the high-powered
laser at Magurele, the construction of which continued in
2015.
Significant areas of offices and commercial buildings were
developed, including Mega Mall Hypermarket Bucharest,
which received investment of €165 million).
A total of 26 power stations were retrofitted in the Moldova
area for E.ON
ROMANIA
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
9,715
-10.5
4.3
40.4
-2.5
5.0
4,733
-2.5
-13.2
63.4
-2.5
5.0
1.1.1. New
2,905
-5.2
-24.7
75.5
-2.5
5.0
1.1.2. R&M
1,828
3.5
9.3
47.2
-2.5
5.0
4,982
-22.2
29.6
23.8
-2.5
5.0
1.2.1. Private
3,841
-21.1
29.5
2.6
-2.5
5.0
1.2.2. Public
1,141
-34.7
31.2
309.1
-2.5
5.0
Civil Engineering
14,976
8.1
11.6
-18.2
20.0
5.2
24,691
0.1
10.3
0.4
10.0
5.1
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2016b
2012
2016b
NA
NA
NA
NA
NA
collective dwelling
NA
NA
NA
NA
NA
Total
2013
2014
NA
NA
NA
NA
NA
39,440
37,863
37,672
36,487
35,500
190
190
180
180
170
170
160
160
150
150
140
140
130
130
120
120
110
110
100
100
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 155
‘11
‘10
‘09
‘08
‘07
90
90
80
80
70
70
POPULATION 2015
19,830,000

Housebuilding
Non residential
Civil Engineering
Total Construction
63
2015a
single dwelling
SWEDEN
64
The outlook for the Swedish economy improved during the
autumn of 2015 and growth in 2016 is therefore expected
to be quite strong. Foreign trade is picking up, thanks to
the recovery in Europe, which accounts for nearly 70% of
the Swedish export market. There is a broad upturn in the
Swedish economy and all parts of the supply chain have
contributed to the sharp increase in GDP. A gloomier outlook
for the global economy will however affect the Swedish
economy during next year. Weaker disposable income
growth and negative net exports will slow down GDP growth
from 3.3% this year to 2.5% in 2017.
The market-oriented construction of non-residential
buildings continued going up in 2015 after a strong 2014. It
was mainly the commercial and real estate sector together
with increasing investment in the industrial sector that drove
the increase. This year, the economic outlook will keep
fuelling private non-residential investment. It is primarily the
commercial and real estate construction sector that will
contribute to the positive growth rate.
The slowdown in GDP growth will dampen the total
construction investment growth during the forecast period.
Last year, construction investment rose significantly, where
rising investment in residential construction was the main
driving force. This year residential investments will still be the
main engine while the civil engineering sector will decrease.
All in all, total construction investment will increase by 4%
in 2016. With regard to employment, 2015 was a weak
year, construction employment fell by approximatively 1%.
Employment growth will continue to be quite weak (but
nevertheless positive) in terms of the strong growth rates of
total construction during 2014 and 2015.
2.Housebuilding
Investment in residential construction began to rise in H2
2013. Investment in both single and multi-family dwellings
has contributed to the turnaround. The recovery will continue
throughout the forecast period, thanks to the housing
construction boom in 2014 and 2015.
For newly constructed buildings the forecast is 48,600
dwelling starts in 2015 and 46,000 this year. Expressed in
investment terms this means that new construction rose by
24% last year and will continue to increase by 13% this year.
Investment in repair and maintenance by 12% during 2015
after a quite strong 2014. This year households will reduce
their demand for repair and maintenance work due to a less
favourable tax deduction on ROT work (since January the
deduction is 30% - not 50% as before). Thus the private
and public property owners’ renovation of rental housing will
provide a positive contribution to the development in 2016.
All in all, total investment in housebuilding increased by 17%
last year, and will continue to increase by 8% in 2016.
Local Authorities and Regions expect a very strained
economy in the county council and municipal sector in both
2015 and 2016. On the other hand the large numbers of
asylum seekers in Sweden is putting enormous pressure on
the municipalities to construct a lot more public buildings.
There are also several large public sector projects (hospitals)
under construction and that is why we believe that public
investments will have a positive growth even though finances
are very strained. Overall, total investment in non-residential
buildings increased by 8% in 2015, and will continue to
increase by 2% in 2016.
Investment in civil engineering slowed down during
2015. It was mainly the private investment in the sectors
of postal, transport- and telecommunications that drove
the slowdown. The negative growth in the private civil
engineering sector will continue this year through reduced
investment in the energy and telecommunication sectors.
Public civil engineering investment increased in 2015. This
was because of a sharp increase in railway investments
(investments in roads and streets fell during 2015). Public
sector investment will continue to increase this year when
public spending on infrastructure increases (both on roads
and on railways). Total civil engineering investment rose by
only 1% last year and this year the sector will decrease by
the same number, i.e. -1%, due to the drop in the private
sector.
SWEDEN
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
Building
34,494
-3.5
-0.7
18.8
16.0
0.5
17,981
-11.8
0.9
19.8
16.7
7.6
1.1.1. New
9,566
-21.1
10.4
33.7
23.8
12.8
1.1.2. R&M
6,750
-3.3
-5.9
10.0
11.6
0.7
14,992
6.7
-2.3
14.2
8.0
2.3
1.2.1. Private
10,238
7.8
-2.6
13.5
10.9
2.5
1.2.2. Public
4,754
4.6
-1.6
15.5
2.2
2.0
Civil Engineering
8,213
11.7
-3.3
8.5
0.7
-0.6
57,724
-0.3
-1.3
15.1
10.0
4.1
1.1. Housebuilding
2.
(1 + 2)
Total Construction*
2016b
a: estimate - b: forecast. * Total construction is multiplied by 1.4 in order to include R&M.
2015a
2016b
6,628
collective dwelling
7,132
9,717
11,870
11,500
17,295
23,374
27,048
39,052
40,000
Total
2013
2014
2,112
3,542
5,232
6,520
7,000
26,035
34,048
41,997
57,442
58,500
120
120
110
110
100
100
90
90
80
70
80
60
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 435
‘11
‘10
‘09
‘08
‘07
70
POPULATION 2015
9,851,000

Housebuilding
Non residential
Civil Engineering
Total Construction
65
2012
single dwelling
SLOVENIA
In 2015, Slovenia continued to experience a growth in
its economy (+2.9%). It was mostly driven by the growth
in exports (+5.2%) while the construction industry faced
a decline (-7.3%). The growth of exports was due to
favourable conditions in main export markets while the
decline in construction was the consequence of the end of
the intensive period of public investments financed by EU
funds 2007-2013, from which the financed construction
works had to be completed in 2015.
The decline in construction did not influence employment
in construction in 2015, where the number of employees
remained mostly the same as it was in 2014.
66
The real estate market did not recover in 2015, although
the number of transactions of second hand apartments and
houses increased in Q1 to Q3. Data for Q4 are not available
yet. The process of sales of new apartments built in the
economic crisis, by subsequently bankrupt investors is rather
slow due to administrative reasons related to the insolvency
proceedings, as well as creditors’ expectations of excess
demand after market recovery.
After the 1st year of growth in the construction industry in
2014 (+15.6%), following the crisis that started in 2009,
in 2015 a decline was recorded again (-7.3%). The main
reason was that in 2015 all projects financed by EU Funds
for the financial period 2007-2013 had to be completed.
The decline was particularly pronounced in civil engineering
(-9%), while in buildings there was a smaller decline(-2.9%).
Residential buildings experienced a big drop (-10.7%), whereas
non-residential buildings experienced a small drop (-1.7%).
2015 was less favourable for construction than the year before.
In 2015 a very big drop of new signed contracts of 37.7% on
average was also recorded, the consequences of which will
show up in year 2016, so expectations for 2016 are very low.
In 2015 the average cost for housing construction increased
by 1.2%. At the same time, labour costs increased by 1.6%
and material costs decreased by 1.1%.
In 2016 we estimate a big decline in overall construction
activity of 19%. For buildings, a decline of about 26% is
expected (-27% in housebuilding and 25% in non-residential
buildings). In civil engineering a decline of 15% is expected.
2.Housebuilding
The average decline of 11% in the residential buildings
construction market in 2015 was the consequence of low
demand in the residential market and the absence of longterm state housebuilding policy. Besides that, investment in
real estate, which for decades was considered in Slovenia
as one of the safest places for citizen’s savings, is no longer
considered as such.
Slightly reduced unemployment among young people in
2015, was not the reason for a noticeable growth in demand
for housing. Moreover, banks still remain cautious about
financing building projects.
According to available statistical data on new contracts
signed in 2015 we estimate a big drop (-27%) in
housebuilding in 2016.
In 2015 in non-residential buildings a slight drop of 2%
was recorded. EU fund investments for the financial period
2007-2013 in 2015 compensated for low investment
activity in the private sector. Private investments were low
and also national funds announced for investments to
support energy conservation measures in public buildings
remained relatively weak.
The predicted economic growth of the Slovenian economy
of 1.8% in 2016 will not be enough to prevent a big drop in
non-residential buildings, which we estimate at -25%.The
only segment where a positive trend could occur is slightly
more intensive reconstruction of public and residential
buildings, using national funds collected for energy efficiency
measures in buildings.
After high growth in 2013 and 2014, a decline in civil
engineering is expected for 2015. The -9% expected is a
bigger drop than we estimated last year. One of the reasons
was the additional reduction of already extremely low
investment activity in national road network reconstruction.
After the end of the support from EU funds from the
financial period 2007-2013 for financing national and
municipal infrastructure projects in 2015, in 2016 it is not
expected that new projects for the new financial period
2014-2020 can be financed yet. Besides that in the new
financing period there will be much less EU funding available
for civil engineering projects, than there was in previous
period.
As a result, expectations for 2016 are very low. The
estimated decline in civil engineering works is 15%. For the
absence of EU funds, we expect partial compensation from
higher investment in national road network reconstruction.
Money collected every year by vehicle owners for using
national roads, should all be used for their maintenance and
reconstruction, which was not the case in previous years.
There is also a public discussion taking place regarding the
implementation of the new infrastructure tax on liquid fuels,
specifically created for this purpose.
SLOVENIA
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
2016b
Building
580
34.6
-13.4
-10.6
-2.9
-26.2
160
37.8
-9.7
-10.4
-10.7
-28.4
1.1. Housebuilding
1.1.1. New
80
9.8
-19.8
-12.5
-10.7
-30.0
1.1.2. R&M
79
112.4
4.2
-8.2
-10.7
-26.7
410
33.3
-14.9
-10.8
-1.7
-25.5
1.2.1. Private
NA
NA
NA
NA
NA
NA
1.2.2. Public
NA
NA
NA
NA
NA
NA
1,048
31.0
5.1
30.4
-9.0
-15.2
1,621
32.8
-3.9
12.8
-7.3
-18.8
2.
(1 + 2)
Civil Engineering
Total Construction
collective dwelling
Total
2015a
2016b
2,206
2013
2,398
2014
2,215
2,356
2,427
833
632
344
259
246
12
20
19
18
18
3,051
3,050
2,578
2,633
2,691
140
140
120
120
100
100
80
80
60
60
40
40
20
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 39
‘11
‘10
‘09
‘08
‘07
20
POPULATION 2015
2,063,000

Housebuilding
Non residential
Civil Engineering
Total Construction
67
2012
single dwelling
UNITED KINGDOM
The United Kingdom continued in its track record of
economic growth during 2015, albeit at a slower pace. The
UK economy grew by 2.2% in 2015, compared to 2.5%
registered in 2014. Unemployment continued to fall to
record lows from 5.8% in 2014 to 5.1% in 2015.
UK construction output for non-residential building
amounted to €65.45 billion in 2015, compared to €64.58
billion in 2014. Overall, €47.89 billion came from the private
sector and €17.56 billion came from the public sector.
The Conservative Party, led by Prime Minister David
Cameron, secured an overall majority in the House of
Commons at the 2015 General Election. This allowed
Cameron to form a majority Conservative government
and push ahead with the UK’s renegotiation of its EU
membership. An agreement was reached at the European
Council of February 2016. The deal reached at that summit
will be put before a referendum of the British people on 23
June 2016, where it will be decided whether the UK will
remain a member of the EU.
68
There were 2.11 million workers employed in construction as
of Q3 2015. Although this means that 10,000 more people
joined the construction industry in 2014-2015, it made up
6.2% of total UK jobs in 2015 as opposed to 6.3% in 2014.
On the other hand, construction amounted to 6.5% of the
UK economy in 2014, up from 6.1 in 2013.
2. Housebuilding
The UK continues to be affected by an acute housing
shortage. The housing demand is far greater than the current
supply, thereby pushing property prices to record highs.
It has been repeatedly estimated that the UK needs to
build at least 245,000 new homes each year to bridge
the gap and satisfy the current demand rate, but recent
statistics from the Department for Communities and Local
Government showed that just 152,450 new dwellings
were completed in 2015. The great part of these home
completions came from the private sector, which delivered
118,070 new homes.
In terms of economic output, new housing brought a total
of €35.95 billion in 2015. The largest share (83.5%) of
this output continued to come from the private sector with
€30.05 billion.
Infrastructure output across 2015 increased to €22.48
billion from €16.78 billion in 2016. There are certain factors
that must be taken into account when assessing these
figures.
The planning of the high-speed railway link between London
and the North has generated much interest both on the side
of local contractors and large construction firms. It is likely
that infrastructure and civil engineering output will increase
greatly over the next five years. At the same time, the
prolonged decision-making process over airport expansion in
London and the south-east constitutes a relatively significant
block to further infrastructure capacity growth. A decision is
expected after July 2016
UNITED KINGDOM
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
163,316
-4.7
4.9
11.5
5.7
NA
65,368
-1.7
7.4
20.2
3.6
NA
1.1.1. New
35,954
-4.9
10.8
32.1
6.5
NA
1.1.2. R&M
29,414
1.3
4.3
8.9
0.3
NA
65,458
-6.9
2.4
8.3
1.3
NA
1.1. Housebuilding
2.
(1 + 2)
2015a
2016b
1.2.1. Private
47,896
-3.3
4.1
10.3
3.6
NA
1.2.2. Public
17,562
-14.1
-1.2
3.6
-4.3
NA
Civil Engineering
22,486
-7.9
7.2
-2.4
34.0
NA
185,802
-5.1
5.2
9.9
8.5
NA
Total Construction
NUMBER OF BUILDING STARTS IN RESIDENTIAL CONSTRUCTION
2016b
76,000
2012
NA
NA
NA
NA
collective dwelling
39,000
NA
NA
NA
NA
Total
2013
2014
NA
NA
NA
NA
NA
115,000
149,662
163,932
NA
NA
240
240
220
220
200
200
180
180
160
160
140
140
120
120
100
100
80
80
60
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 2,577
‘11
‘10
‘09
‘08
‘07
60
POPULATION 2015
64,597,000

Housebuilding
Non residential
Civil Engineering
Total Construction
69
2015a
single dwelling
SWITZERLAND
The Swiss economy is facing a major challenge: The
Swiss National Bank discontinued the minimum exchange
rate of 1€ = 1.20 CHF on 15th January 2015. As a
consequence, the exchange rate fell to parity and slowly
recovered to 1.10 CHF per Euro by the end of the year.
Therefore, the important export sector has to struggle with
a substantial overvaluation of the Swiss Franc. In view of
this, the estimated GDP growth of 0.7% for 2015 is pretty
remarkable and reflects the Swiss economy’s resilience.
70
Due to its strong domestic orientation, the Swiss
construction sector is not directly affected by the exchange
rate situation. However, the economic uncertainty is slowing
down investments, but the effects seem to be limited. More
important are saturation effects, mainly in the housing
market. A growth period of about a decade has ended.
The vacancy rate has been rising since 2013 and net
immigration decreased in 2015. Population growth is the
main demand factor in the housing market. We estimate
construction activity to have dropped about 4% to €57.5
billion in 2015. In the main construction work, the decline is
more pronounced. For the near future, we expect a stable
development. Fundamental factors such as as low interest
rates and high net immigration will continue to support
construction demand. Nevertheless, growth opportunities are
very limited.
2.Housebuilding
Housebuilding has been the main impulse for growth in
construction activity for about a decade. This ended in
2015. We estimate that housing construction activities
contracted about 5% to €27 billion in 2015. The vacancy
rate grew from 0.96% in 2013 to 1.19% in 2015, reflecting
an increasing saturation of the market. There are various
contributing factors: net immigration, which is the main
driver of population growth, dropped about 10% in 2015. In
spite of this, the level is still pretty high. Another factor is an
article in the Swiss Constitution approved by the electorate
in March 2012 forbidding new secondary residences in
communities with more than 20% secondary residences
of the total number of flats. Construction companies felt
its full effects in 2015. In some mountainous regions of
Switzerland, housing activities dried up almost completely.
Rising housing prices due to low interest rates and
increasing scarcity of building land are also reducing the
demand for housing. However, the main consequences of
high prices are shifts in the demand: the share of rental flats
of the total amount of new flats grew from about one quarter
a decade ago to more than half of the total in 2015. In the
same period, the share of single-family-homes dropped from
one third to less than 20%. In recent years, the share of
condominiums has dropped too. As for the supply side, the
historically low interest levels are encouraging investments in
rental building, which may explain part of the effect. For the
next few years, we expect housing construction activities to
remain stable.
The non-residential sector has profited from high
investments in public buildings and in office buildings in past
few years. However, there is an oversupply of office space
in certain areas, which is limiting potential growth in nonresidential-buildings. We saw a slight decline in the activity in
2015 and expect no significant changes in 2016.
Due to overall balanced public budgets, there is no general
need for cutting down infrastructure spending like in many
countries of the EU. However, we assume that activity in civil
engineering slightly declined in 2015, amounting to €12.4
billion. For 2016, we see the activity in civil engineering
staying roughly at the same level.
In the long run, prospects are still good. Unlike a few years
ago, the need for infrastructure investment is undisputed by
now. Traffic jams and often overcrowded trains make that
fact obvious. In February 2014, a new financing fund for
railway infrastructure was accepted in a popular vote, which
will allow improvement and expansion of the rail network. A
similar fund is planned for road infrastructure, but it still has
to go through the legislative procedure. A popular vote is
likely to take place in the H1 of 2017.
SWITZERLAND
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
2015a
2016b
Building
43,724
4.7
7.3
-2.5
-3.0
-1.0
26,298
3.7
6.6
-1.9
-4.0
-1.0
1.1.1. New
19,250
3.9
6.3
-1.8
-3.1
-1.5
1.1.2. R&M
7,048
2.9
7.4
-2.3
-6.5
0.5
17,426
6.3
8.3
-3.3
-1.5
-1.0
1.2.1. Private
10,770
5.9
12.3
-3.3
-1.5
-1.0
1.2.2. Public
6,655
6.8
2.5
-3.3
-1.5
-1.0
Civil Engineering
12,037
8.5
0.0
-1.7
-2.0
0.0
55,760
5.5
5.6
-2.3
-2.8
-0.8
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2016b
10,500
2012
9,500
7,500
7,100
6,800
collective dwelling
43,800
46,500
47,000
45,600
46,000
Total
2013
2014
NA
NA
NA
NA
NA
54,300
56,000
54,500
52,700
52,800
130
130
120
120
110
110
100
100
90
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 582
‘11
‘10
‘09
‘08
‘07
90
POPULATION 2015
8,340,000

Housebuilding
Non residential
Civil Engineering
Total Construction
71
2015a
single dwelling
NORWAY
Total construction activity amounted to €54 billion in current
market prices in 2014, which gives a yearly volume growth
of 1.7%. All growth rates in the following text concerning
Norway are measured in constant prices, and hence depict
the volume growth. Our estimate for 2015 is €56.6 billion
in current prices, and the forecast for 2016 shows €59
billion. The average exchange rate between NOK and EUR
in 2010; 1€=8.0NOK, has been used. We estimate that total
construction output grew moderately by 2.3% in 2015.
72
The drop in demand for new non-residential buildings from
the private business sector seems to have been neutralised
by increased demand for new dwellings and R&M works
on existing dwellings from the household sector, as well
as increased demand from the public sector. Thus, the
overall building activity is in fact expected to grow weakly
by 1.4% in 2016. Thanks to a civil engineering boom,
we expect the total construction output to grow by 4.2%
in 2016. The Government is on a mission to improve
Norway’s substandard road- and railway infrastructure, and
the production of new energy plants and power lines is
increasing strongly.
Slower economic growth caused by the sharp drop in
petroleum investments is the explanation behind reduced
demand for new buildings from the business sector, but so
far, it seems that the problems in the oil and gas sector will
only moderately affect demand for construction works from
the public and household sector.
Estimated total employment in construction was 206,000
people in 2015, which is a 3% increase from 2014. In 2016,
we expect 2% growth in total construction employment.
2. Housebuilding
The housing demand has been strong in recent years, but
several bottlenecks on the supply side have limited housing
construction. Norway holds a (not-so-glamorous) top position
among OECD-countries in terms of the number of days
to process a building permit application. With around 220
days on average, we are clearly in the lead as the slowest
country, ahead of Poland in second place with 180 days. As
a result of this, housing starts have been limited to 27,800
units on average each year in the period 2010-2015.
Despite prospects of weaker contributions from economic
and demographic demand drivers, strong growth in house
prices in 2015 indicates that the fundamentals of demand
for new housing are present. We believe that there is
demand enough to start at least 30,500 dwellings in 2016.
We forecast that 9,150 of these will be single dwellings,
19,825 will be collective dwellings and the rest will be in the
category “other”.
Considering the housing market in monetary terms,
investments in new residential construction (dwellings,
garages and holiday houses) is estimated at €12.4 billion
(current market prices) in 2015. This represents an annual
growth of only 1.2%. The forecast for 2016 is however
somewhat brighter, we expect 3.3% growth in investments in
new residential construction.
The R&M market for residential buildings is estimated at €6.2
billion in 2015 (current market prices), which gives an annual
growth of 3%. In 2016, we expect that a weaker growth in
both consumption and in households’ disposable income will
lead to a weaker growth in R&M residential of around 1.5%.
Slower economic growth with subsequent higher
unemployment will result in reduced demand for new offices,
commercial buildings and other non-residential buildings for
the private sector. Demand from the public sector is more
or less unaffected by the economic slowdown, and planned
projects should in general be carried out.
We estimate that the investments in new private nonresidential buildings declined by 10.5% (measured in
constant prices) in 2015, and we forecast a further decline
of 5% in 2016. On the other hand, investments in new public
non-residential buildings increased by 18.5% in 2015, and
we expect a further small growth of 1.6% in 2016.
Development in the R&M non-residential market is more
stable, and we estimate growth of around 3.7% in 2015 and
forecast a further 2.2% growth in 2016. The R&M market
has been more affected by repair works after damages
related to natural disasters in recent years. Additionally,
political measures aimed at improving energy efficiency
in existing buildings are stimulating demand and thus
contributing to growth in the R&M-markets.
Construction output (investments and R&M) in nonresidential buildings is estimated at €21.6 billion in 2015
(measured in current market prices), which represents a low
annual growth of 1.6%.
This market has been growing at impressive rates for the last
10 years. Growth seems to have been somewhat weaker
in 2015, but still solid - about 4% for new investments and
maintenance as a total. Total civil engineering activity is
estimated at €16.4 billion in current market prices in 2015.
It seems that the real boom will come in 2016, when we
expect 15% growth in investments and 2.7% growth in
maintenance. Road works, energy works and investments in
water works and sewage systems, in harbours and airfields,
will be the main drivers and will counteract the negative
effects of declining railway investments.
NORWAY
production
Mln. €
fixed prices
1.
Sectors
2015a
2012
2013
2014
Building
34,804
4.4
-0.7
-0.3
1.7
1.4
15,972
6.5
2.8
-4.4
1.8
2.7
1.1.1. New
10,613
7.2
4.1
-7.8
1.2
3.3
1.1.2. R&M
5,359
5.1
0.1
3.2
3.0
1.5
18,832
2.7
-3.7
3.5
1.6
0.3
1.2.1. Private
12,022
3.0
-5.1
3.1
-2.5
-0.7
1.2.2. Public
6,810
1.9
-0.6
4.2
9.7
2.0
Civil Engineering
14,139
10.3
4.5
7.0
3.7
11.3
48,943
5.9
0.7
1.7
2.3
4.2
1.1. Housebuilding
2.
(1 + 2)
Total Construction
2015a
2016b
2015a
2016b
8,772
collective dwelling
8,704
8,369
9,150
9,300
20,454
21,113
19,235
19,825
20,150
Total
2013
2014
1,648
1,612
1,793
1,525
1,550
30,874
31,429
29,397
30,500
31,000
200
200
180
180
160
160
140
140
120
120
100
100
8080
BILLION
2016b
2015a
‘14
‘13
‘12
2007 = 100
GDP 2015
€ 410
‘11
‘10
‘09
‘08
‘07
6060
POPULATION 2015
5,166 ,000

Housebuilding
Non residential
Civil Engineering
Total Construction
73
2012
single dwelling
TURKEY
The construction sector has been at the forefront of Turkey’s
economic development over the last decade. The industry
accounts for almost 5% on average of total GDP, and employs
nearly 2 million people. When the sector’s direct and indirect
impact on related industries, such as building materials,
construction machinery, engineering and architecture, are
taken into account, the share of the sector in the overall
economy reaches 30%.
74
As for the renovation of unsafe housing in earthquake-prone
regions, the Urban Transformation Programme introduced
by the government in 2012 slowed down in 2015, whereas
large scale qualified housing projects were replaced by
demolition and reconstruction of single buildings.
Office building construction growth has also been increasing
in recent years.
Despite recent economic slowdown in the country, the
construction sector looks to continue its moderate growth
in the coming years due to the government’s programme
of urban renewal and a string of large-scale infrastructure
projects, in line with the corresponding high rates of population
growth and urbanisation.
The Istanbul Finance Centre Project is underway on the
Anatolian side of Istanbul. According to projections, the
Centre will create a financial district in Istanbul which will
provide employment for 30,000 people. Once completed, the
financial district will be larger than its counterparts in New
York and London.
In correlation with the GDP growth trend, the Turkish
construction sector output has fluctuated over the recent
years. According to the Turkish Statistical Institute (TurkStat)
data, construction growth shrank from 2.2% in 2014 to
1.7% in 2015. Thus, the growth of the construction sector
was relatively low in comparison to the growth of the overall
economy, which accounted for 4% in 2015.
On the other hand, the retail and wholesale construction
market decreased by almost 30% from 4,476 building
permits issued in 2014 to 3,142 building permits in 2015.
Moreover, 5,710 occupancy certificates were issued in
2015, showing a 26% decrease in comparison with 2014.
To date,Turkish contractors have completed almost 8,800
projects in 5 continents and 108 countries with a total
business volume of USD 326 billion. Almost 90% of the works
are undertaken in North Africa, Eurasia and the Middle East.
2.Housebuilding
Due to the growing population in recent years, urbanisation,
increased levels of income and improved standards of
living, demand for real estate is constantly increasing in
the country. Thus, the residential market registered a peak
in 2015 with an increase of housing sales of 10.6% in
comparison with the previous year.
Moreover, residential property sales to foreigners increased
by 20.4% in 2015. According to data released by TurkStat,
half of the 22,830 properties sold to foreigners in Turkey,
were sold to Iraqis, Saudis, Kuwaitis, Russians and British.
On the other hand, two general elections in 2015 and the
period of uncertainty in the Turkish economy afterwards,
resulted in a decrease in the supply of housing.
TurkStat figures show that 866,800 building permits for
housing units were issued in 2015, a 15.5% decrease in
comparison with 2014.
Moreover, in 2015 the number of housing units with
occupancy certificates decreased by 6% compared to 2014.
Hotel construction experienced negative growth in 2015
as well. Ukraine-related economic sanctions against Russia,
escalating security concerns in the region, and the turmoil in
Syria caused big falls in hotel reservations by foreign visitors
and led to the sharp decrease in the number of building
permits and occupancy certificates for hotel buildings issued
in 2015 by 41% and 55% respectively.
There is an increasing involvement of the private sector in
civil engineering projects in Turkey.
During the last few years, the private sector has undertaken
some major infrastructure projects in energy, transport,
health and communication fields under the PPP model. By
the end of 2015, the total volume of investment in these
projects, that had already been put out to tender amounted
to USD 36 billion.
The civil engineering production index in construction
for 2014 reached 107.9 units (base year 2010 = 100),
recording a decrease of nearly 11% over 2013, whereas
2015 figures increased by almost 8% compared to 2014.
The Third Istanbul Airport, the Third Bosphorus Bridge,
several health centres and energy production projects are
considered to be the largest ongoing projects. Large-scale
infrastructure investments are projected to continue in 2016
as well, with port, high-speed railway, subway and highway
projects.
DE © Marco 2811 - fotolia.com
TURKEY
collective dwelling
2012
2013
2014
2015a
2016b
19,507
23,219
24,822
21,471
21,000
747,919
812,919
1,001,416
845,343
825,000
Total
4,452
3,492
4,446
3,701
3,500
771,878
839,630
1,030,684
870,515
849,500
140
140
130
130
120
120
110
110
100
100
90
90
80
80
BILLION
2016b
2015a
‘14
‘13
‘12
2010 = 100
GDP 2015
€ 646
‘11
‘10
‘09
‘08
‘07
70
70
POPULATION 2015
78,741,000

Housebuilding
Civil Engineering
Total Construction
75
single dwelling
LIST OF THE EXPERTS
AT
CY
EE
Bundesinnung Bau – BI Bau
Schaumburgergasse 20/8
AT – 1040 Wien
Federation of the Building Contractors
Associations of Cyprus – OSEOK
3A, Androcleous Str.
CY – 1060 Nicosia
Estonian Association of Construction
Entrepreneurs (EACE)
Pärnu mnt 141
EE – 11314 Tallinn
T (+357.22) 75.36.06
F (+357.22) 75.16.64
[email protected]
http://www.oseok.org.cy
T (+372) 687 04 35
F (+372) 687 04 41
[email protected]
http://www.eeel.ee
T (+43.1) 718.37.37.0
F (+43.1) 718.37.37.22
[email protected]
http://www.bau.or.at
Expert: Mrs Lefki Pantelidou Kosta
Fachverband der Bauindustrie – FVBI
Schaumburgergasse 20/8
AT – 1040 Wien
ES
CZ
T (+43.1) 718.37.37.0
F (+43.1) 718.37.37.22
[email protected]
http://www.bau.or.at
Association of Building Entrepreneurs
of the Czech Republic – SPS
(-12/2014)
Expert: Mr Peter Scherer
Expert: Mr George Skala
BE
DE
Confederación Nacional de la Construcción –
CNC
C/ Diego de León 50
ES – 28006 Madrid
T (+34.91) 562.45.85 / 561.97.15
F (+34.91) 561.52.69
[email protected]
http://www.cnc.es
Expert: Mr José-María Duelo
76
Confédération Construction
34-42 rue du Lombard
BE – 1000 Bruxelles
T (+32.2) 545.56.00
F (+32.2) 545.59.00
[email protected]
http://www.confederationconstruction.be
Expert: Mr Jean-Pierre Liebaert
BG
FI
Hauptverband der Deutschen
Bauindustrie e.V. – HDB
Kurfürstenstraße 129
DE – 10785 Berlin
T (+49.30) 212.86.0
F (+49.30) 212.86.240
[email protected]
http://www.bauindustrie.de
Expert: Mr Heinrich Weitz
Confederation of Finnish Construction
Industries – RT
Unioninkatu 14 – PO Box 381
FI – 00131 Helsinki 13
T (+358.9) 129.91
F (+358.9) 628 264
[email protected]
http://www.rakennusteollisuus.fi/
Expert: Mr Sami Pakarinen
Bulgarian Construction Chamber – BCC
6 Mihail Tenev Str.
BG – 1784 Sofia
T (+359.2) 806.29.11 / 806.29.62
F (+359.2) 963.24.25
[email protected]
http://www.ksb.bg
Expert: Mrs Tatyana Bachvarova
CH
SBV
SSE
SSIC
FR
Zentralverband des Deutschen
Baugewerbes – ZDB
Kronenstraße 55-58
DE – 10117 Berlin
T (+49.30) 20.31.40
F (+49.30) 20.31.44.19
[email protected]
http://www.zdb.de
Expert: Mr Andreas Geyer
Schweizerischer Baumeisterverband
Société Suisse des Entrepreneurs
Società Svizzera degli Impresari-Costruttori
Societad Svizra dals Impressaris-Constructurs
Schweizerischer Baumeisterverband – SBV
Société Suisse des Entrepreneurs – SSE
Weinbergstraße 49 – Postfach 198
CH – 8042 Zürich
T (+41.44) 258.81.11
F (+41.44) 258.83.35
[email protected]
http://www.baumeister.ch
Expert: Mr Silvan Müggler
DK
Dansk Byggeri
Nørre Voldgade 106
Postboks 2125
DK – 1358 Kobenhavn K
T (+45) 72 16 00 00
F (+45) 72 16 00 10
[email protected]
http://www.danskbyggeri.dk
Expert: Mr Finn Bo Frandsen
Fédération Française du Bâtiment – FFB
33 avenue Kléber
FR – 75784 Paris Cedex 16
T (33-1) 40.69.51.00
F (33-1) 45.53.58.77
[email protected]
http://www.ffbatiment.fr
Expert: Mr Loïc Chapeaux
Fédération Nationale des Travaux Publics –
FNTP
3 rue de Berri
FR – 75008 Paris
T (33-1) 44.13.31.44
F (33-1) 45.61.04.47
[email protected]
http://www.fntp.fr
Expert: Mr Jean-Philippe Dupeyron
LIST OF THE EXPERTS
IT
Association Panhellénique des Ingénieurs
Diplômés Entrepreneurs de Travaux Publics –
PEDMEDE
23 rue Asklipiou
GR – 106 80 Athènes
Associazione Nazionale Costruttori Edili –
ANCE
Via Guattani 16-18
IT – 00161 Roma
T (+30) 2.10 361.49.78
F (+30) 2.10 364.14.02
[email protected]
http://www.pedmede.gr
T (+39.06) 84.56.71
F (+39.06) 84 56 75 50
[email protected]
http://www.ance.it
Experts: Ms Eleni Papagianni
Mr Alkiviadis Papadopoulos
Mr Efstratios Zissimopoulos
LT
Expert: Mrs Anna Bimbo
HR
PL
Korporacja Przedsiebiorcow Budowlanych
KPB UNI-BUD
(-12/2014)
PT
Portuguese Federation of construction and
public works’ industry – FEPICOP
Praça de Alvalade, n.º 6, 7º Fte
PT – 1700 – 036 Lisboa
T (+351.21) 311 02 00
F (+351.21) 355 48 10
[email protected]
http://www.fepicop.pt
Lithuanian Builders Association – LSA
Lukiškių st. 5-501, 502
LT – 01108 Vilnius
Experts: Mr António Manzoni de Sequeira
Mr Paulo Lobo
T (+370) 52 12 59 01
F (+370) 52 12 59 01
[email protected]
http://www.statybininkai.lt
RO
LU
The Romanian Association of Building
Contractors – ARACO
17 Papiu Ilarian Street
cod 031691, Sector 3
RO – Bucharest
Groupement des Entrepreneurs du Bâtiment et
des Travaux Publics – GEBTP
7 rue Alcide de Gasperi
LU – 1615 Luxembourg
T (+40.21) 316.78.96
F (+40.21) 312.96.26
[email protected]
http://www.araco.org
National Federation of Hungarian
Contractors – ÉVOSZ
Döbrentei tér 1.
HU – 1013 Budapest
T (+352) 43.53.66
F (+352) 43.23.28
[email protected]
http://www.fedil.lu
Expert: Mrs Cristina Driga
T (+36.1) 201.03.33
F (+36.1) 201.38.40
[email protected]
http://www.evosz.hu
NL
HUP – UPG
Radnička cesta 52
HR – 10 000 Zagreb
T (+385 1) 4897.580
F (+385 1) 4897.556
[email protected]
http://www.hup.hr
Experts: Mr Zdenek Karakas
Ms Tatjana Gracic
HU
Expert: Mr Pol Faber
Expert: Mr Zoltán Pete
IE
Construction Industry Federation –
CIF Construction House
Canal Road
IE – Dublin 6
T (+353.1) 40.66.000
F (+353.1) 496.69.53
[email protected]
http://www.cif.ie
Expert: Ms Jeanette Mair
SE
Bouwend Nederland
Postbus 340
NL – 2700 AH Zoetermeer
T (+31-79) 325 22 52
F (+31-79) 325 22 90
[email protected]
http://www.bouwendnederland.nl
Expert: Mr Wim Schreurs
Sveriges Byggindustrier – BI
Storgatan 19
BOX 5054
SE – 102 42 Stockholm
T (+46.8) 698 58 00
F (+46.8) 698 59 00
[email protected]
http://www.bygg.org/
Expert: Mr Fredrik Isaksson
SI
NO
Entreprenørforeningen – Bygg og Anlegg
EBA
P.O. Box 5485 Majorstua
NO – 0305 Oslo
T (+47) 23 08 75 00
F (+47) 23 08 75 30
[email protected]
http://www.eba.no
Experts: Mrs Siw Linderud
Mrs Torild Engh
Chamber of Construction and Building
Materials Industry of Slovenia - CCBMIS
Dimiceva 13
SI – 1504 Ljubljana
T (+386 1) 58 98 242
F (+386 1) 58 98 200
[email protected]
http://www.gzs.si
Expert: Mr Jože Renar
77
GR
LIST OF THE EXPERTS
SK
Zvaz stavebnych podnikatelov
Slovenska ZSPS
Sabinovska 14
SK – 821 02 Bratislava
T (+421.2) 43 633 263
F (+421.2) 43 426 336
E [email protected]
http://www.zsps.sk
TR
Associate Members:
Member of:
EFFC
CICA
European Federation of Foundation Contractors
Forum Court
83 Copers Cope Road
Beckenham
GB – Kent BR3 1NR
Confederation of International Contractors’
Associations
3 rue de Berri
FR – 75008 Paris
T (+44.208) 663.09.48
F (+44.208) 663.09.49
[email protected]
http://www.effc.org
EQAR
Turkish Contractors Association – TCA
Birlik Mahallesi, Dogukent Bulvari, 447.
Sokak No. 4
TR – 06610 Cankaya-Ankara
T (+90.312) 439.17.12/13
F (+90.312) 440.02.53
E [email protected]
http://www.tmb.org.tr
Expert: Ms Cigdem Cinar
UK
78
National Federation of Builders
National Federations of Builders — NFB
Spectrum House, Suite AF29,
Beehive Ring Road, Gatwick,
UK -West Sussex, RH6 0LG
T (+44) 8450 578160 / 1293 586540
F (+44) 8450 578161 / 1293 536827
[email protected]
http://www.builders.org.uk
Expert: Mr Giorgio Buttironi
T (+33) 1 58 56 44 20
F (+33) 1 58 56 44 24
[email protected]
http:// www.cica.net
In Close Cooperation with:
EIC
European Quality Association for Recycling e.V.
Kronenstraße 55-58
DE – 10117 Berlin
T +49.30) 203.14.575
F (+49.30) 203.14.565
[email protected]
http://www.eqar.info
European International Contractors
Kurfürstenstrasse 129
DE – 10785 Berlin
T (+49) 30 212 86 244
F (+49) 30 212 86 285
E-mail: [email protected]
http://www.eicontractors.de
Cooperation Agreement:
NFB
National Federation of Builders
National Federations of Builders
Spectrum House, Suite AF29,
Beehive Ring Road, Gatwick,
UK -West Sussex, RH6 0LG
T (+44) 8450 578160 / 1293 586540
F (+44) 8450 578161 / 1293 536827
[email protected]
http://www.builders.org.uk
Coordination / Coordination / Koordination
Christine Le Forestier - FIEC
Domenico Campogrande - FIEC
Design inextremis.be
Traduction / Translation / Übersetzung
DSDB, Bruxelles
BIM
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EUROPEAN CONSTRUCTION
INDUSTRY FEDERATION
Avenue Louise 225
BE-1050 Brussels
T +32(0)2 514.55.35
T +32(0)2 511.02.76
[email protected]
www.fiec.eu
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