According to estimates by the Catalonia Institute of Construction Technology (ITeC) construction of new housing in Spain will increase by 5% in 2014 and 15% in 2015.
2013 will see construction started on 40,000 new units which is 20% down on 2012 figures. ITeC’s predictions are that these numbers will rise to 45,000 in 2014 and 60,000 in 2015.
Josep Ramón Fontana, the Head of Economic Perspectives at ITeC has labeled the current construction statistics ‘derisory’ and has drawn an unfavourable comparison with those that were registered during the crisis of 1991-1993 during which construction began on an annual average of 250,000 units.
ITeC predicts that the Spanish construction sector (Including residential & non-residential development, civil engineering, restoration and renovation) will contract by 23.8% in 2013, 7.7% in 2014 and 1.5% in 2015.
, President of ITeC, and Josep Ramón Fontana
head of the the company’s Economic Perspectives department,
give a press conference
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