Construction investment increased slightly in 2023
Construction expenditure in Switzerland rose slightly by 0.2 per cent in 2023. Investments in building construction fell by 0.3 per cent. Investments in civil engineering increased by 2.7 per cent.
Construction investment in Switzerland rose by 0.2 per cent in nominal terms in 2023 compared to the previous year. According to a press release, investments in building construction fell by 0.3 per cent and those in civil engineering increased by 2.7 per cent. Compared to the previous year, 2.5 per cent less was invested in new construction projects and 4.4 per cent more in renovation projects. These are the provisional results of the construction statistics from the Federal Statistical Office(FSO).
Total construction expenditure, i.e. construction investment plus public maintenance expenditure, increased by 0.3 per cent in 2023, although a price-adjusted decline of 2.5 per cent was recorded.
Public clients – the federal government, cantons and municipalities – increased investment in civil engineering by 3.9% and in building construction by 8.5%. By contrast, private clients spent less on civil engineering (-2.3%) and building construction (-1.9%) in 2023.
A decline of 2.5 per cent was recorded for investment in new construction. Private clients spent 4.8 per cent less on new construction projects. In contrast, investment in conversions increased by 4.4 per cent.
In addition to private renovation activity, which increased by 3.9 per cent, the public sector also invested more in new buildings (6.9 per cent) and renovations (5.2 per cent) compared to the previous year, according to the FSO press release.