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Vigo’s PXOM Triggers 2025 Shift Toward New Construction as Renovations Recede

Higher project budgets alongside a chronic labor shortfall signal cost pressure into 2026.

Overview

  • - New-build projects in Vigo and its area reached 353 in 2025, up 6.97% year over year, with a 22.6% surge in the second half, according to COATPO.
  • - Renovation activity fell 9.88% to 538 projects after several years of prominence boosted by post‑pandemic and EU incentives.
  • - The Presupuesto de Ejecución Material totaled €438 million in 2025 (+65.64%), with the average per project up to €438,755 (+72.33%), reflecting pricier materials and wages and a heavier tilt to new builds.
  • - COATPO expects an active 2026 with new construction maintaining momentum and renovations likely easing, while urging attention to the national housing plan and faster permitting.
  • - Across Pontevedra province, single-family homes jumped 41.53% to 736, and 54 buildings were initiated to deliver 1,625 homes, up from 47 buildings and 1,430 homes in 2024.