Analytics, Construction, Estonia, Real Estate
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 15:39
In Q2, construction volume in Estonia decreased by 8%
The production value of Estonian construction enterprises amounted to 743 million euros, of which building construction accounted for 503 million euros and civil engineering for 240 million euros. Compared to the second quarter of 2019, the volume of building construction decreased by 12% and the volume of civil engineering works (roads, bridges, port facilities, pipelines, communication and electricity lines, sports fields, etc.) increased by 2%.
According to Merike Sinisaar, leading analyst at Statistics Estonia, the domestic construction market was affected the most by a decrease by almost a tenth in the volume of building construction. “The construction volume of civil engineering works has started to grow this year compared to the same period last year, but it does not make up for the decline in the volume of building construction,” said Sinisaar.
The construction volume of Estonian construction enterprises in foreign countries almost halved year on year. There was a fall in both building construction and civil engineering works. Construction in foreign countries accounted for 5% of the total construction volume; the share a year ago was 9%.
According to the Register of Construction Works, 2,177 dwellings were completed, which is nearly a fifth more than the year before. The majority of completed dwellings were in Tallinn, the rural municipalities in the vicinity of Tallinn and in Tartu county. Building permits were granted for the construction of 1,869 dwellings, which is 2% more than in the second quarter of 2019. The most popular type of building was a block of flats.
Completed non-residential buildings numbered 286, with a useful floor area of 306,000 m2 – these were primarily new trade, storage and industrial premises. Compared to the same quarter of 2019, both the useful floor area as well as the volume of completed non-residential buildings increased.
Statistics Estonia collects and analyses data for producing quarterly economic indicators of enterprises. The statistical activity is commissioned by the Ministry of Economic Affairs and Communications in order to determine how the Estonian economy is performing.
More detailed data have been published in the statistical database.
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