How much work does the construction sector have at the moment?
“The sector is not having an easy time, due to higher prices and higher interest rates,” says Sven Nouten of Embuild. “Last year, housing construction declined by 7.1 percent. We expect a further decline of 5.3 percent this year.”
The trend is different with renovations. “There was still growth there, although it dropped from 4.6 percent in 2022 to 1 percent in 2023. This year we expect a slight increase of 1.6 percent.”
Although it must also be emphasized that 2022 was a fairly exceptional year, with a lot of activity, due to the catch-up process after the corona crisis.
“In the long term, we cannot help but be optimistic,” says Nouten. “Many additional homes are needed to meet the housing shortage. In addition, Europe wants all homes to be CO2 neutral by 2050. To achieve this objective, the renovation rate must be three times higher in Flanders, and even four times higher in Brussels and Wallonia. “
2024-02-17 06:41:00
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