Construction Sector in Portugal Ends 2021 on an Upswing

There was an 11.2% increase in licensed dwellings in new buildings.

An economic analysis of the construction sector, released today by AICCOPN (Association of Civil Construction and Public Works Industries), saw the construction sector ended 2021 positively, with growth in most indicators.

According to an estimate released by the National Statistics Institute, GDP rose by 4.9% in 2021, the highest since 1990, after the historic 8.4% decrease in 2020, the result of the COVID-19 pandemic.

Cement consumption in Portugal rose 5.8% year-on-year rise to 3.78 million tonnes in 2021, a high for the last ten years. Residential bank valuations also reached a new high in December of last year, up 11.2% y-o-y.

According to the information available up to the end of November 2021, licensing by Municipal Councils, which is an indicator of future activity in the building construction segment, saw an increase in the number of licensed works, with an overall gain of 7.2%, as a result of variations of 9.5% in residential buildings and 1.5% in non-residential buildings. The number of dwellings licensed in new buildings rose by 11.2%, year-on-year, to 25,621 homes.

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