In light of the complicated situation we find ourselves in, caused by the consequences of the pandemic and the war in Ukraine, PlanRadar has conducted new research into what are the main challenges facing the construction sector in the coming years and what we can do to mitigate their impact.
In this report we have analysed in more detail the main factors that have led us to this situation and the solutions proposed by experts such as the consultancy firm CBRE, among which we highlight the implementation of technological solutions.
Inflationary pressure and rising material costs
Undoubtedly, one of the biggest difficulties facing our economy is the inflation crisis. How can the construction sector cope with the huge increase in material costs? Supply chain difficulties in the wake of COVID and the consequences of the sanctions resulting from the war in Ukraine have severely affected the price of construction materials in recent years. However, the forecasts of the consultancy firm CBRE are a little more optimistic, expecting the surge of these costs to start to recede from 2023 onwards.
Read more: What’s behind UK construction material shortages and cost rises?
Labour shortages
Labour shortages, with older staff reaching retirement age and the need for wage improvements in the face of rising inflation, will also play an important role in the coming years.
Climate change
On the other hand, as we detailed in our last report “Architecture of the Future“, sustainability is a key factor for the designs of the future. Construction companies are increasingly being forced to meet the environmental demands of government and society.
Read more: 7 major risks in construction projects and how to avoid them
The need for technological solutions
What can we do in the face of this situation? The CBRE report provides us with several recommendations to mitigate the impact of this new reality and the rise in prices.
The ultimate goal of these recommendations is to achieve maximum efficiency, saving costs and improving time management. To this end, we cannot overlook the need for greater technological investment in the construction sector through the wide range of solutions we have, including our PlanRadar platform, whose mission is to make the entire construction lifecycle much easier, faster and more efficient.
Want to know more about PlanRadar and the benefits it can bring to your business? Try our platform for free or contact us for more information.
