The Italian construction sector might see losses of € 34 billion © CRESME LAB Remote ThinkTank
Before the current health emergency, the Italian construction sector was in a period of growth. At the end of 2019, a growth of 2.4% was expected thanks to new construction projects. As for 2020, a similar development was predicted with investments amounting to an estimated € 141 billion.
However, according to preliminary estimates by Cresme, not more than € 107 billion are going to be invested this year. This corresponds to losses of € 34 billion for the Italian construction sector. Looking at the figures for 2019 (€ 138 billion), however, losses are at € 31 billion.
This equally affects the residential and non-residential constructor sector (public and private). Compared to 2019, investments in new constructions could plummet by more than a fifth (-22.6%). The impact on renovations, on the other hand, is more difficult to quantify and has been estimated at -23.5% by Cresme.
Thus, the residential sector could lose € 3.9 billion worth of new constructions and € 13.2 billion worth of renovations compared to the expectations of the beginning of 2020.
