Growth in construction in 2007

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An estimated 80,000 new homes were handed over to new owners in 2007.

15 January 2008

AMSTERDAM – An estimated 80,000 new homes were handed over to new owners in 2007. That is considerably more than in 2003 when construction of new homes reached a low point of 60,000 units. This emerged on Tuesday from the annual report from the Economic Institute for the Construction Business (EIB).

Growth in non-residential building construction was even greater than in the homes sector, says the EIB.

The outlook for the construction sector as a whole in 2008 is also good. The growth of building volume will decrease somewhat, to 3 percent, but in light of high levels of current production "2008 will be dubbed a top year."

Residential building will also show strong growth in 2008. Both growth in new build production and investment in home improvement will be between 4 and 4.5 percent. The number of newly built homes will grow further, if the number of permits granted is to be believed. The growth in non-residential building however will level off in 2008.

The EIB predicts that in the medium to long term the growth in building volume as a whole will level off. "With the exception of building maintenance, this implies declining production in new building in both the residential and non-residential sectors."

Employment at building companies rose 1.5 percent in 2007.

[Copyright Expatica News + ANP 2008]

Subject: Dutch news

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