The only economic figure that will not return to pre-crisis levels even in 2025 will be investments.
The analytical data show that despite the financial injections of tens of billions of euros from the NSRF and the Recovery Fund, despite the recovery of the real estate market, the gross capital formation is still at least 35% below 2009. The main reason investments continue to lag is investing in housing.
Gross fixed capital formation at current prices reached 36.3 billion euros in 2024, against €34.18 billion in 2023. An increase is recorded but the performance of 2008 (€55.6 billion) and 2009 (€48 billion) is still far above it.
Despite the rally in prices, capital investments in the real estate market are not following suit. In 2006, investments in housing approached €22 billion and in 2007 €25.2 billion. In 2024, the year closed with €5.6 billion, an amount slightly higher (approximately €330 million) than 2023. The percentage drop still exceeds 72% even if the comparison year is 2009, when the downward trend of the real estate market had already begun. The gap created is so wide it seems extremely difficult for the time being that it will be filled by other sources of investment.