The Dutch construction industry remains in crisis with recovery possibly only in sight in 2015, a report by the Dutch Economic Institute for Construction (EIB) showed on Thursday.

After the crisis in 2009 and 2010 and a brief revival in the beginning of 2011, Dutch construction decreased by 7 percent in 2012 from a total production value of 56.3 billion euros (76.2 billion U.S. dollars) in 2011 to 52.4 billion euros in 2012. The industry is expected to shrink a further 5 percent this year.

Meanwhile, housing investments declined by almost 20 percent in two years.

The biggest fall last year was in the production of houses, decreasing by 10 percent. "Even with improved housing demand in 2013, house construction in 2014 will show no signs of recovery," stated the EIB. "The year 2014 is a transition year on the road to recovery in the period 2015-2018."

In Europe, only the construction industry in Spain, Ireland and Portugal was worse.

"The cause of the very poor performance of the Dutch housing market in the past five years should primarily be sought in the (differential) government policy," said the EIB, which stated that measures such as the reduction of mortgage interest and stricter lending rules had negative impacts.

"In addition, there is still a very negative trend in mortgage rates in our country as an important difference with other European countries, and indeed with the United States."

The crisis also hit the construction labor market. Unemployment in construction in the past year nearly doubled from 6 percent to 11 percent.