Hungarian construction market to grow 5% in 2015
According to a new report entitled “Construction sector in Hungary 2015 - Development forecasts for 2015-2020” published by the analytical and research company PMR, following a drop of almost 9% year on year in 2012, Hungarian construction output recovered in both 2013 and 2014 growing by more than 14% year on year in each of the two years. The growth was driven mostly by civil engineering construction, which experienced an increase of over 24% year on year in 2014. In non-residential construction, following an estimated rise of less than 3% in 2014, Hungarian non-residential construction is expected to experience nearly 5% increase in 2015, as a number of projects, particularly on the warehouse and office markets, are expected to begin. On the other hand, the non-residential subgroup which is likely to lag behind all others is retail facility construction.
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