Construction volumes decreased in 3Q

According to Statistics Estonia, in the 3rd quarter of 2015 compared to the same quarter of the previous year, the total production of Estonian construction enterprises in Estonia and foreign countries decreased 5%. If only the Estonian construction market is taken into account, the construction volumes decreased 10%.

In the 3rd quarter of 2015, the production value of construction enterprises amounted to 614 million euros, of which the production value of building construction was 370 million euros and the production value of civil engineering was 244 million euros. Compared to the 3rd quarter of 2014, the volume of building construction in real terms stayed on the same level and the volume of civil engineering decreased by about a tenth.

Compared to the same period of 2014, the domestic construction market was influenced the most by a decrease in civil engineering. There was also a decrease in repair and reconstruction work in building construction. At the same time, new building construction continued to grow.

The construction volume of Estonian construction enterprises in foreign countries increased by more than a half compared to the 3rd quarter of 2014, influenced mainly by the construction of buildings. Construction volumes in foreign countries accounted for 13% of the total volume of construction in the 3rd quarter of 2015.

According to the data of the Register of Construction Works, in the 3rd quarter of 2015, the number of dwelling completions was 985, i.e. two times more than in the same period of 2014. More than a half of the completed dwellings were situated in blocks of flats. The majority of completed dwellings were situated in Tallinn.

There is still a demand for new dwellings with a good location and high quality. In the 3rd quarter of 2015, building permits were granted for the construction of 1,512 dwellings, which means that the number of building permits issued increased by a half compared to the 3rd quarter of 2014. The most popular type of building was block of flats.

The number of completed non-residential buildings was 292 with a useful floor area of 166,300 square metres – this consisted primarily of new industrial, storage and commercial premises. Compared to the 3rd quarter of 2014, the useful floor area as well as the volume of completed non-residential buildings decreased.Diagram: Construction volume index and its trend, 1st quarter 2000 – 3rd quarter 2015

Source: Statistics Estonia

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: