Real estate boom expected, Hungary is the leader
Positive development in the construction industry in Europe
The construction industry in Europe is flourishing as it has been since the global financial crisis. In 19 European countries, industry sales will grow by 3.5 percent this year, according to the research group Euroconstruct. "A stronger growth existed in Europe for the last time in 2006," said Ludwig Dorffmeister, real estate expert at the Munich Ifo Institute.
For the first time, construction demand in all 19 countries surveyed - including Austria - increased at the same time. The leader is Hungary with an estimated revenue increase of about a quarter. The experts are not expecting the trend to end: By 2020, a further six percent increase across Europe is to be expected.
For Germany, researchers expect the construction industry to accelerate in 2017, also driven by housing demand. The Euroconstruct Group employs economic researchers and real estate professionals from 19 countries, including Germany, the United Kingdom, France, Italy and Switzerland.
Vienna, on 28.11.2017
Translator: Elena Garanina