Analytics, Construction, Estonia, Real Estate

In the 3rd quarter of 2014, the production value of construction enterprises amounted to 640 million euros, of which the production value of building construction was 369 million euros and the production of civil engineering totalled 271 million euros. Compared to the 3rd quarter of 2013, the volume of building construction in real terms decreased 3% and the volume of civil engineering 14%.

The domestic construction market continues to be influenced mostly by the decrease of civil engineering volumes. In the 3rd quarter of the current year, also the repair and reconstruction volumes in building construction took a downturn compared to the same quarter of the previous year. At the same time, new building construction continued to grow.

The construction volume of Estonian construction enterprises in foreign countries decreased about a fifth compared to the 3rd quarter of the previous year, influenced mainly by the construction of buildings. Construction volumes in foreign countries accounted for 7% of the total volume of construction in the 3rd quarter of 2014.

According to the data of the Register of Construction Works, in the 3rd quarter of 2014, the number of dwelling completions was 432, i.e. the same as in the same period of 2013. More than a half of the completed dwellings were situated in one-family, two-family or terraced houses. 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 3rd quarter of 2014, building permits were granted for the construction of 945 dwellings, which is a third more than in the 3rd quarter a year ago. The most popular type of building was a block of flats.

The number of completed non-residential buildings was 181 with a useful floor area of 181,000 square metres – this was primarily made up of new agricultural, storage and industrial premises. Compared to the 3rd quarter of 2013, both the useful floor area and the cubic capacity of the completed non-residential buildings increased.