Amid several major disruptions to the world economy such as the war in Ukraine and COVID-19 related lockdowns in China, construction markets around the world are feeling the heat. In addition, high demand is putting more pressure on already strained supply chains, leading to material issues and higher prices.
The report noted that 38.6% of markets surveyed were classified as “hot” (28.4%) or “overheating” (10.2%), where conditions are deemed at risk of acting as a brake on development, according to the release. This is up from 10% in 2021, while the number of “cold” markets fell from six to only one.
