After two consecutive years of decreases, the headwinds for the European construction industry persist. The number of housing units completed in Europe will fall to 1.46 million in 2025, down from 1.55 million in 2024. Only slight growth to 1.51 million housing units is expected for 2026. This is according to forecasts by the market forecasting network Euroconstruct, of which the ifo Institute is a member.