According to the Analysis, the building sector continues to face challenges, with higher interest rates and construction costs making households and businesses more cautious about investing in new property. Infrastructure, however, has continued to grow, supported by EU funding and investment in energy and digital networks. Energy-related construction shows the strongest growth, driven by renewable energy and grid expansion, while railway construction benefits from network renewals and cross-border projects.In housing, the number of building permits issued in the EU increased by around 15% between summer 2024 and the end of 2025 before broadly stabilising. Material prices are also gradually increasing, with 13% of EU producers planning to raise selling prices over the next three months in September, compared with 11% in January. At national level, ING expects construction activity in Germany to return to growth in 2026 after five years of contraction. Spain is expected to grow by 3%, while France is projected to contract by 2.5% and output in Poland to remain broadly unchanged. The full analysis also provides insights into the Netherlands and the outlook for 2027.

#EUConstruction