Strong demand

Estimates published by the SPS, an association of enterprises in the Czech construction industry, forecast that the building sector will see growth of 5 per cent in 2008. According to the SPS there is a potential demand for building projects worth around € 189 bn up until 2015. New-build homes are expected to account for € 39 bn of the total, and home renovations for € 45 bn. Demographic forecasts point to a need for 50 000 new homes annually until 2015. The potential of the refurbishment sector is considerable, in view of the great proportion of concrete slab type buildings in need of renovation in the Czech Republic's existing building stock.