Brief Analysis of the Viennese Construction Industry and Construction Cost Forecast 2023-24

In construction, there were cost increases in 2021 and 2022 that have not occurred on this scale since the 1970s. These affected all construction sectors and have intensified with the outbreak of the war in Ukraine. In the context of this project, current forecasts of construction cost development are made in order to be able to carry out realistic planning and cost estimates for projects in the construction sector. Due to the current high volatility of construction costs, a semi-annual update will be carried out until at least the end of 2024. In addition, brief analyses of the current situation of the Viennese construction industry will be prepared, which will be presented using the relevant labour market and economic indicators.