Analytics, Construction, Lithuania, Real Estate

Against III quarter 2007, the number of dwellings equipped in 1–2 dwelling buildings increased by 18%. Their useful floor area made 155.5 thousand m² (66% of the total useful floor area of completed dwellings). In III quarter 2008 against III quarter 2007, construction of dwellings in blocks of flats decreased by more than 7%.  

New residential buildings completed

In III quarter 2008, more than 59% of dwellings were built in Vilnius county, 19% – in Kaunas county, 12% – in Klaipėda county. The average useful floor area per dwelling made 95.2 m².

New residential buildings completed by county

In III quarter 2008, 2141 building permits were issued for the construction of 2170 residential buildings (of which 71 – blocks of flats, 1 – hostel), i.e. by 318 building permits, or 13%, less than in III quarter 2007. In III quarter 2008 against II quarter 2008, the number of building permits for the construction of dwellings decreased by 492, while the useful floor area decreased by 35.2 thousand m².

Almost 98% of all building permits were issued for the construction of 1–2 dwelling buildings, while only 2% – for the construction of blocks of flats.

Building permits for the construction of new residential buildings

In III quarter 2008, 1251 non-residential buildings were constructed countrywide, whose total floor area made 424.6 thousand m², i.e. by 43.9 thousand m² more than in III quarter 2007. By the total floor area, industrial buildings and warehouses (119.2 thousand m²), trade, hotels and public catering enterprises (119.1 thousand m²) cover the vastest range.

In III quarter 2008, 565 buildings permits for the construction of 813 non-residential buildings were issued with the total floor area of 411.2 thousand m², i.e. by 215.0 thousand m² less as compared to III quarter 2007. By the total floor area, most (33%) permits were those for the construction of trade, hostels and public catering enterprises, agricultural (23%), industrial buildings and warehouses (20%), etc.

According to provisional data, in III quarter 2008, investment in long-term tangible assets made LTL 5560 million; however, the growth rate did not reach even 1% as compared with III quarter 2007.

The major part (63%) of the total investment was allocated for the construction, 35% – for acquisition of long-term assets of all kinds. Against III quarter 2007, investment in construction of buildings and civil engineering structures remained almost unchanged (0.6%). Investment for acquisition of land had been decreasing: in III quarter 2008, it decreased by 42% as compared with III quarter 2007.

For the construction and purchase of residential buildings, LTL 750 million (13% of the total investment) were allocated, which is by 9% more than in III quarter 2007 (in II quarter 2008, the respective changed made up 38%).

Against II quarter 2008, investment in long-term tangible assets increased by 5%, while seasonally adjusted – by only 0.6% (investment process is influenced by the seasonality factor).

Material investment

In III quarter 2008, work carried out by construction enterprises at their own account totaled LTL 3589 million; the value of works carried out within the territory of the country made LTL 3551 million (99%), outside the country – 1%, or LTL 38 million. The bulk of construction (54%) fell per construction of buildings; civil engineering works accounted for 46%.

New construction work accounted for LTL 1732 million, which made up almost half (49%) of all construction work carried out within the country, reconstruction works – LTL 914 million (26%), repairs and restoration – LTL 826 million (23%), other works – LTL 79 million (2%). 

Construction work carried out by type of constructions

In III quarter 2008, construction volumes increased by 3% as compared to III quarter 2007. The increase in construction growth rates within the country was determined by the construction of civil engineering structures (LTL 1622 million). Civil engineering works increased by 18%, while construction works (LTL 1929 million) decreased by 6% as compared with III quarter 2007. The increase in construction work was not influenced by the number of working days.

Construction works were influenced by the seasonality factor. Over III quarter 2008 against II quarter 2008, construction volumes within the territory of the country increased by 12%, while seasonally adjusted – increased by 3%.

Changes in construction work carried out

At constant prices, growth, drop (-), times