Study: Modular construction on the advance

  • 4 years ago

According to calculations by the construction experts at management consultants McKinsey, housing companies will increasingly opt for modular construction when building homes in the near and distant future. This is because building with industrially prefabricated parts has many advantages. It saves construction costs and shortens construction time. According to forecasts, modular construction is expected to reach a market volume of 130 billion dollars in Europe and the USA by 2030.

Above all, the high and constantly rising construction costs, as well as the shortage of living space, call for a new and forward-looking concept with which more living space can be created in a shorter time and rental costs fall. According to experts at McKinsey, modular construction is expected to reduce construction time by 20 to 50 percent and achieve construction cost savings of up to 20 percent.

The German Housing Association (GdW) and other real estate companies are also in favor of modular construction of residential buildings. In cooperation with the federal government, they have drawn up a framework agreement that defines the requirements of serial and modular construction. Together with the construction industry and the Federal Ministry of Construction, the aim is to build high-quality but more cost-effective housing in the future.

Source: GdW

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