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The New Build Market Will Grow by 49% in 2022

The number of new build homes will grow by 49% in 2022, according to a report prepared by the Royal Institution of Chartered Surveyors and the General Council of Technical Architecture in Spain (CGATE).

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Residential development remains well ahead of work on non-residential building projects and civil building works, which grew by 20% and 14%, in 2021, respectively.

But it’s not all good news. Profit margins have a negative net balance of 13%. In addition, 86% of the sector is concerned about rising costs and 82% about the lack of qualified workers. The study forecasts that building work, taking into account the cost of materials and workers, will become 8.84% more expensive by 2022.

Read the full article in Spanish.

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