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North Macedonia Terraced Housing Construction Industry Analysis
Terraced housing construction projects in North Macedonia have seen a steady growth in recent years. Terraced houses, also known as row houses or townhouses, are becoming more popular due to their affordability and space-saving design. In North Macedonia, terraced houses are mostly found in urban areas, particularly in Skopje, the capital city.
The current scenario in the terraced housing construction projects industry in North Macedonia is promising. The demand for affordable housing has increased due to the rising population and the trend of urbanization. According to the National Bank of North Macedonia, the country's construction sector grew by 7.8% in 2019, driven by the increase in the construction of residential buildings.
The government has also taken steps to promote the construction industry by providing incentives and support to developers. The ?Macedonia 2025? project, launched in 2015, aims to encourage foreign investment in the country's economy, including the construction industry. The government has also streamlined the procedures for obtaining construction permits, making it easier for developers to start new projects.
In terms of industry outlook, the terraced housing construction projects industry in North Macedonia is expected to continue its growth trajectory. The increasing demand for affordable housing and the government's support for the construction industry are expected to drive the sector's growth in the coming years.
However, there are some challenges that the industry may face. One of them is the shortage of skilled labor in the construction industry, which may lead to delays in project completion and increased costs. Additionally, the COVID-19 pandemic has had a significant impact on the industry, with disruptions in supply chains and restrictions on construction activities. These challenges, however, can be addressed by promoting training and skills development for workers and implementing safety measures on construction sites.
In conclusion, the terraced housing construction projects industry in North Macedonia is in a positive state, with increasing demand for affordable housing and government support for the construction industry. While challenges may arise, there are measures that can be taken to overcome them and ensure the sector's continued growth.
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