The production of new housing in the Basque Autonomous Community (CAV) has increased by 19%, and by 13% in Bizkaia. During 2022, the production of 5,649 new homes in the BAC and 2,540 in Bizkaia began.

In addition, the production of subsidized housing has regained momentum with the update of the maximum sale prices of VPO as of the second half of 2022, after more than a decade frozen, according to the Ascobi 2022 report on the construction and real estate development sector. of the Association of Builders and Promoters of Bizkaia (Ascobi-Bieba).

However, with this recovery compared to 2021, production figures prior to the pandemic have not been reached. In comparison, the number of housing starts compared to 2019 is still 12% lower in the BAC and 32% in Bizkaia. “This improvement of 2022 does not change the scenario of low production of new housing that has been maintained in the Basque Country in a structural way during the last decade and that, with production rates of just two homes per thousand inhabitants, cannot meet the large demand of new, free and protected housing, of the Basque society”, affirmed Ascobi.

According to the data from the report, employment in the construction sector has increased by 10% (5,400 more jobs) and totals 58,900 employees in the Basque Country as a whole. In Bizkaia, employment increased by 10.5%, reaching 32,700 workers.

Regarding the amount of public works tendered during the past year, it has increased by 15% in the BAC as a whole and by 37% in Bizkaia compared to 2021. “However, the sharp increase in production costs causes an increase of the number of deserted tenders and deteriorates the margins in the works carried out”, they assess from Ascobi.

The sale of housing maintains its growth

The real estate market, both in Biscay and in the Basque Country, has increased its total home purchase and sale operations during 2022 and has reached the highest figures in the last 15 years, especially due to the dynamism of the used home market. In Bizkaia the total increase is 14% and in the BAC it is 10% compared to 2021.

New home sales have increased by 16% in Bizkaia. The survey on the evolution of the average price of housing in Bizkaia shows a continued trend towards a moderate rise in average prices with respect to previous years, both in new and used housing.

Source: Eitb

Alia

Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.