The shrinkage is partly due to limited licensing, rising unemployment and financial uncertainty among consumers due to the corona crisis.
The 69,000 homes that will be completed this year are already about 1,500 fewer than in 2019. The further decline means that the housing shortage in the Netherlands will increase even further. Real estate agents and the Vereniging Eigen Huis (VEH), among others, have regularly called for more houses to be built.
In a report on construction, ING also notes that the volume shrinkage in the sector last year amounted to about 1 percent. The limited contraction was partly due to small construction companies, which saw their turnover increase.
The latter was due to the fact that consumers had their houses renovated during the corona period. “The effect of the corona crisis will be visible in 2021. The sector is then expected to shrink by 4 percent ”, ING warns. This is due to a smaller financial scope for consumers and declining investments in commercial buildings.
The most important financial news every morning.
Invalid email address. Please fill in again.