Private conversion projects boost construction investments in 2022
Construction investments increased by 1.8% in nominal terms in 2022 compared to the previous year. Private renovation investments increased in particular. Investments in building construction increased by 2.3% and those in civil engineering fell by 0.1%. This is shown by the provisional results of the construction statistics of the Federal Statistical Office (FSO).
Total construction expenditure is made up of construction investments and public maintenance work. They increased by 1.5% in 2022. However, since construction prices have risen sharply, this results in a real minus of 5.9%. Construction investments showed a nominal increase of 1.8% year-on-year. On the other hand, expenditure on public maintenance work recorded a decline of 1.4% compared to the previous year.
Private clients invested heavily in conversion projects
Investments in new buildings (+0.3%) and conversions (+4.2%) increased in 2022 compared to the previous year. This positive result is due to private clients, who invested significantly more in conversions (+7.2%). In the same period they also spent more on new construction projects (+0.3%). The public clients – i.e. the Confederation, cantons and municipalities – increased their investments in new buildings within the year (+0.3%). On the other hand, they spent less on renovation projects (-0.1%).
Positive development of building construction investments
Switzerland-wide, more was invested in building construction (+2.3%) compared to 2021. Both private clients (+2.4%) and the public sector (+1.3%) contributed to this positive result. In contrast, investments in civil engineering (-0.1%) declined within a year. Public clients spent less on infrastructure construction (-0.9%). Private clients, on the other hand, invested more in civil engineering (+3.2%).
Outlook for 2023
The work in progress (expenditure) for the following year 2023 for construction projects under construction (incl. public maintenance work) increased by 1.6% as of the reporting date 31.12.2022 compared to the previous year’s reporting date.
Source: bfs.admin.ch