The production value of buildings construction in Spain experienced notable fluctuations between 2013 and 2023. Starting at €48.24 billion in 2013, it peaked at €79.39 billion in 2018. However, beginning in 2019, a downtrend became apparent, with the value declining to €67.04 billion in 2023. The most significant year-on-year variations show substantial recovery post-2013's low, particularly a notable 26.12% increase in 2018. Yet the market has contracted since 2019, with a -2.39% year-on-year decrease in 2023 and an average annual decline of -3.32% over the last five years.
Forecasting future values from 2024 to 2028, a continued decline is predicted. The average annual decrease (CAGR) over the next five years is -2.02%, leading to an anticipated value of €59.07 billion in 2028.
Future trends to watch for include the impact of economic policies on construction investment, technological advancements in building techniques, and potential fluctuations in demand influenced by demographic shifts and urbanization trends. Monitoring these factors will be critical for anticipating further market developments.
