According to Statistics Estonia, in the 1st quarter of 2011 compared to the same quarter of the previous year, the total production of Estonian construction enterprises in Estonia and foreign countries grew 34%, of which 29% on domestic market.
In the 1st quarter of 2011, the production value of construction enterprises amounted to 264 million euros (4.1 billion kroons), of which the production value of building construction was 176 million euros and the production of civil engineering totalled 88 million euros (2.7 and 1.4 billion kroons, respectively). Compared to the same quarter of 2010, the volume of building construction increased about 40% and the volume of civil engineering more than a fourth. The rapid growth in construction volumes was mainly influenced by the low reference base in 2010 when the decline on the construction market was the biggest. Regardless of the rapid increase in construction production in the 1st quarter of 2011, the construction volumes have reached the level of the 1st quarter of 2004. During the last years the construction market has been supported mainly by the construction of infrastructure objects, but by now also the building construction is on the upswing due to favourable conditions created for reconstruction of buildings.
The construction volume of Estonian construction enterprises in foreign countries increased 71% compared to the 1st quarter of the previous year. The increase was mainly caused by the building constructions. The share of the construction volumes in foreign countries accounted for 15% of the total volume of construction volume in the 1st quarter.
Compared to the 4th quarter of the previous year, the seasonally and working-day adjusted construction volume increased by 14%.
According to the data of the Register of Construction Works, in the 1st quarter of 2011, the number of dwelling completions was 366, i.e. about two times less than in the same period of 2010. More than a half of completed dwellings were situated in one-family, two-family or terraced houses. The majority of completed dwellings were situated in the neighbouring rural municipalities of Tallinn. In spite of the consumer’s price sensitivity the demand for new dwellings with good location and quality has grown continuously. In the 1st quarter of 2011, building permits were granted for the construction of 990 dwellings, which exceeded the number of dwellings in the previous quarter as well as in the 1st quarter of 2010. The most popular type of building was blocks of flats.
In the 1st quarter of 2011, the number of completed non-residential buildings was 143 with the useful floor area of 72,000 square metres. The useful floor area of transport, agriculture and industrial buildings increased the most. Compared to the same period of 2010, the useful floor area and the cubic capacity of completed non-residential buildings decreased.
Construction volume index and its trend, 1st quarter 2000 – 1st quarter 2011
(average of quarters of 2005 = 100)
Source: Statistics Estonia
Filed under: Real estate