The latest data on buildings’ maintenance and improvement work price indices in France reveals a positive trend in the first quarter of 2023. According to the Institute for Planning and Economic Analysis (IPEA), the overall index for buildings’ maintenance and improvement work stood at 126.6, representing a 2.3% increase compared to the previous quarter and an impressive 8.9% increase compared to the same quarter last year.
Residential Buildings Lead the Way Residential buildings accounted for the majority of the growth, with a price index of 127.5, indicating a 2.4% quarterly increase and a significant 9.5% increase year-on-year. Non-residential buildings also experienced positive growth, albeit slightly lower, with a price index of 125.2, showing a 2.3% increase from the previous quarter and a solid 7.7% increase from the first quarter of 2022.
Various Types of Work Show Positive Performance Analyzing the different types of work within buildings’ maintenance and improvement, several categories stood out with notable growth. Electrical installation (4321) saw a 2.9% quarterly increase, while plumbing, heating, and air-conditioning installation (4322) experienced a similar growth rate. Other construction installations (4329) witnessed a 3.5% increase, while plastering (4331) and joinery installation (4332) both showed a 2.1% growth. Roofing (4391) demonstrated a strong quarterly growth rate of 3.0%, and other specialized construction activities (4399) recorded a 1.0% increase.
Positive Outlook for the Sector The consistent growth in buildings’ maintenance and improvement work prices reflects the ongoing demand for construction services in France. The robust performance of the residential sector indicates a positive outlook for the real estate market, while the growth in non-residential buildings suggests continued investment in commercial and infrastructure projects. The increase in various types of work demonstrates the diverse nature of the construction industry and the continued need for specialized services.
The buildings’ maintenance and improvement work price indices provide valuable insights into the economic landscape of the construction sector in France. These figures not only reflect the current state of the industry but also serve as an important reference for businesses and policymakers involved in the construction and real estate sectors.