“It is estimated that, in 2025, the construction sector will play a decisive role in the evolution of national economic activity, with total production, in real terms, growing by 4% at the midpoint of the forecast range and reaching an estimated value of 23,700 million euros”, says the Association of Civil Construction and Public Works Industry (AICCOPN).

According to the business association, last year, the Gross Production Value (GVP) of construction would have registered a growth of 3%, “reflecting the resilience of the sector in the face of significant challenges, such as labour shortages, the evolution of the price of raw materials, energy and construction materials, in addition to high financing costs.”

“Among the segments of the construction sector, civil engineering stood out, driven by public investment financed by European funds, such as the RRP [Recovery and Resilience Plan] and Portugal 2030”, he details, adding that the housing and non-residential “also recorded positive developments, although more moderately”.

For 2025, and considering, in particular, the evolution of licensing in 2024, AICCOPN predicts growth in production in this segment of between 1.5% and 3.5%, warning that “this pace will be insufficient to meet national needs”, based on the 8.5% increase in the number of accommodation transactions and 13.6% in their value in the first nine months of last year.