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Housing construction in Europe: a renewed decline after a short recovery

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  • Volker Rußig

Abstract

Housing construction in Europe is experiencing a particularly stubborn phase of weak activity. True, a slight recovery was recorded in 2003 and 2004; the number of completed units in new residential buildings is likely to increase by more than 2.2 million units in 2004 (nearly an 8% increase over 2001) in the 15 western European and 4 eastern European countries of the Euroconstruct group. However, already for 2005 a strong drop of the completions of single homes is predicted that will not be offset by the renewed slight rise in units in new residential buildings. The outlook for 2006 calls for stagnation for both building categories at low levels.

Suggested Citation

  • Volker Rußig, 2004. "Housing construction in Europe: a renewed decline after a short recovery," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(13), pages 22-28, July.
    • Handle: RePEc:ces:ifosdt:v:57:y:2004:i:13:p:22-28
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    References listed on IDEAS

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    1. Volker Rußig & André Scharmanski, 2004. "Housing prices in Europe: continuing upward trend with marked regional differences," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(11), pages 30-36, June.
    2. Sven Rady & Volker Rußig, 2004. "Fluctuations of the Real Estate Market: Microeconomic foundations and macroeconomic consequences," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 23.
    3. Volker Rußig, 2004. "Optimism budding slowly in Europe’s construction industry," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(06), pages 38-45, March.
    4. Volker Rußig, 1999. "Gebäudebestand in Westeuropa : fast 17 Mrd. m² Wohn- und Nutzfläche; ausgewählte Ergebnisse der Studie," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 52(12), pages 13-19, October.
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    1. Volker Rußig, 2005. "Renewed decline in owner-occupied houses dampens new residential construction in Europe – Results of the Euroconstruct Winter Conference 2004," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(02), pages 30-38, January.
    2. Volker Rußig, 2004. "Allmähliche Erholung in Europas Bauwirtschaft," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(15), pages 22-29, August.
    3. Volker Rußig, 2005. "Germany retards the upswing of Europe’s construction industry – selected results of the Euroconstruct 2005 summer conference," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(14), pages 39-45, July.

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    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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