The end of the super bonus and the start of the closure of the National Recovery and Resilience Plan (PNRR): the construction growth recorded in 2024 has come to a halt, and will decline in 2025. The market trend has changed since last year: turnover has dropped by 1.5% to €7.8 billion, and investments have declined by 2%.
This is what emerges from the annual report by CNA Construction. According to the analysis, the residential and private non-residential sectors have contracted severely , at -13.1% and -6.6% , respectively. The real estate market is holding up (+5.4%), and spending on tenders has returned to previous levels, although their value has decreased by 48%. On the other hand, public works have grown by 20%, keeping the sector afloat. However, Sardinian companies have received only 17% of the value of contracts exceeding one million euros in the last four years. Employment has grown by 16.5%, and the supply system has held up (-80 companies).
Forecasts for 2025 see the regional construction market valued at €7.4 billion, reflecting a real contraction of 4.5%, with investment falling by 5.9%. Moderating the extent of the decline are the resilience of public works (+0.1%) and ordinary maintenance (+1.2%), which offset the effects of the decline in residential (-11.4%) and non-residential (-3.7%) construction.
"The market is moving from an extraordinary growth phase (2021-2023)," state Francesco Porcu and Mauro Zanda, regional secretary of the CNA and president of the Construction Federation, respectively, "to a more cautious and selective phase in the two-year period 2024-2025: the exceptional incentives of the Superbonus are running out, credit remains tied up, and the weight of public works becomes crucial to sustaining activity levels above the pre-pandemic average. "Public policies will be crucial for the sector," they add, "from national ones, which are expected to reorganize tax incentives (see the European Green Homes Directive), to regional ones, which are called upon to organize and streamline the administrative structures responsible for the planned management of public resources and, more generally, foster aggregation processes between companies, and give centrality to human capital, skills, and training."
