Analytics, Construction, Estonia, Real Estate
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 23:41
In Q3, production of Estonian construction enterprises decreased by 5%
Print version
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.
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