Construction faced a range of constraints throughout 2022. Material prices continued to rise and labour became more expensive. But even so, the sector has shown resilience: housing construction increased by 3.7% in 2022, according to estimates by the Association of Civil Construction and Public Works Industries (AICCOPN). And, according to ECO, for 2023, everything indicates that the production of housing construction will continue to grow between 1.5% and 4.5%, predicts the association.

The housing segment evolved positively throughout 2022, despite the constraints related to the rise in prices of construction materials, prices of houses for sale, as well as interest rates on mortgage loans. According to data compiled by AICCOPN and released in a statement sent to newsrooms, the main indicators evolved in the following positive way in 2022 compared to the same period last year:

  • - Number of licensed accommodations in new constructions increased by 5.4%;
  • - Amount of new housing credit granted until October increased by 7.6%;
  • - Median value of housing for bank valuation purposes increased by 13.9% in November compared to the same period last year;
  • - Family home transactions in the first 9 months of 2022 increased by 8% in number and 22.9% in value.

“In this way, taking into account the evolution of indicators in 2022 and factors such as the level of demand for housing, the current framework of interest rates, the increase in demand for more energy-efficient solutions, and the larger vector in the PRR [Plan of Recovery and Resilience] being housing, the forecast for 2023 points to a growth rate between 1.5% and 4.5%, which corresponds to a midpoint of 3.0%, in this segment, after the increase of 3 .7% estimated for 2022”, highlights AICCOPN in the document.


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