Analytics, Construction, Estonia, Real Estate

In the 2nd quarter of 2015, the production value of construction enterprises amounted to 512 million euros, of which the production value of building construction was 308 million euros and the production value of civil engineering was 204 million euros. Compared to the 2nd quarter of 2014, the volume of building construction in real terms decreased about a tenth and the volume of civil engineering stayed on the same level.

The domestic construction market was influenced the most by 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 13% compared to the 2nd quarter of 2014, influenced mainly by the construction of buildings. Construction volumes in foreign countries accounted for 10% of the total volume of construction in the 2nd quarter of 2015.

According to the data of the Register of Construction Works, in the 2nd quarter of 2015, the number of dwelling completions was 734, i.e. 66 dwellings 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 the neighbouring rural municipalities of Tallinn.

There is still a demand for new dwellings with a good location and high quality. In the 2nd quarter of 2015, building permits were granted for the construction of 1685 dwellings, which is a fourth more than in the 2nd quarter a year ago. The most popular type of building was block of flats.

The number of completed non-residential buildings was 204 with a useful floor area of 69,200 square metres – this was primarily made up of new storage, industrial and agricultural premises. Compared to the 2nd quarter of 2014, the useful floor area as well as the volume of completed non-residential buildings decreased.