First more, then less

Building is flourishing in Europe. Seen in comparative terms, the Irish and the Spanish are among the major initiators of building projects. In these countries the number of housing units completed in 2006 came to 213 and 160 respectively for every 10 000 inhabitants. Germany looks very modest in comparison, with just 28 completions per 10 000 inhabitants. While Euroconstruct forecasts that 2007 will be a good year for the European construction industry, the prospects for the next few years are less good: it is expected that there will be eleven per cent more housing units completed in 2007 than in 2005 in the 19 countries surveyed, but six per cent fewer in 2009 compared with 2007.