Murcia’s construction sector defies national slump

Murcia’s Building Boom Image: Shutterstock/ Bannafarsai_Stock

IN 2023, while Spain faced a 15 per cent drop in construction and a 10 per cent budget reduction, the Region of Murcia defied the trend with a 5 per cent growth in construction projects and a 2.8 per cent budget increase.

Resilient Murcia: A Closer Look at the Construction Sector’s Success

Murcia completed 1,508 constructions, showcasing resilience amid national challenges. The construction sector, particularly driven by private initiatives, experienced a boost, with new builds and renovations leading the way. Despite ranking sixth nationally in completed projects, Murcia’s positive trajectory is notable, attributed to its ability to navigate inflation and rising material costs. The sector’s buoyancy is reflected in a 4.2 per cent increase in projects worth €868.64 million, representing nearly half of the total construction budget.

2024 a Positive Outlook

As 2024 unfolds, experts foresee a promising year for the construction industry nationwide, fuelled by European funds and political resolutions, offering potential for growth and recovery.

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Written by

Catherine McGeer

I am an Irish writer who has been living in Spain for the past twenty years. My writing centers around the Costa Cálida. As a mother I also write about family life on the coast of Spain and every now and then I try to break down the world of Spanish politics!