The growth in construction volumes continues

In the 3rd quarter of 2012, the production value of construction enterprises amounted to  634 million euros, of which the production value of building construction was 347 million euros and the production value of civil engineering 287 million euros. Compared to the 3rd quarter of 2011, the volume of building construction in real terms increased 12% and the volume of civil engineering 18%.

The growth on the construction market continues to be driven by repair and reconstruction works of buildings and construction of infrastructure objects.

The construction volume of Estonian construction enterprises in foreign countries increased 12% compared to the 3rd quarter of 2011. The increase was only caused by building construction. The share of the construction volumes in foreign countries accounted for 9% of the total volume of construction in the 3rd quarter this year.

The construction of new residential buildings is still in decline. According to the data of the Register of Construction Works, in the 3rd quarter of 2012, the number of dwelling completions was 385, which is by a fifth less compared to the same period last year. Most of the completed dwellings were situated in blocks of flats. The majority of completed dwellings were located in Tallinn. There is still demand on the market for new dwellings with a good location and high quality. In the 3rd quarter of 2012, building permits were granted for the construction of 601 dwellings, which exceeds more than by a tenth the number of building permits granted for dwellings in the 3rd quarter of 2011. The most popular type of building was one-family house.

In the 3rd quarter of 2012, the number of completed non-residential buildings was 186 with a total useful floor area of 109,300 square metres – this was primarily made up of new transport, education, agricultural and industrial premises. Compared to the 3rd quarter of 2011, the useful floor area and the cubic capacity of completed non-residential buildings increased.

Construction volume index and its trend, 1st quarter 2000 – 3rd quarter 2012
(average of quarters of 2005 = 100)