New Building Construction in Europe May Have Peaked

Europe’s new building construction has likely reached its peak, according to a recent analysis by Euroconstruct, a forecasting network focused on the building sector.

The group found that both residential and non-residential construction across the continent has entered a period of decline after years of strong growth.

Demographic change is driving the change because population declines, especially in working‑age groups, are expected to reduce demand for new residential and commercial floor space across much of Europe. 

Construction of housing, garages and holiday homes has already dropped substantially in Norway and many other European countries, according to Euroconstruct.

Read the full report here.