The decline on the construction market turned to increase
According to Statistics Estonia, in the 3rd quarter of 2010 compared to the same period of the previous year, the total production of Estonian construction enterprises in Estonia and in foreign countries increased 1.2%. The decline on construction market, which had lasted for two and half years compared to the same quarter of the previous year turned to a rise again in the 3rd quarter this year.
The increase was caused by the construction enterprises operating in foreign countries. The construction volume of these enterprises increased about a fourth compared to the 3rd quarter of 2009. The increase was caused by the building constructions. At the same time the decline of building construction on the domestic construction market continued. Although the construction of civil engineering increased significantly, the total domestic market could not gain growth yet in yearly comparison because of the low level in building construction. The construction volumes on domestic construction market fell 1% compared to the 3rd quarter of 2009.
In the 3rd quarter of 2010, the production value of construction enterprises amounted to 6.4 billion kroons (408 million euros), of which the production value of building construction was 3.3 billion kroons and the production of civil engineering totalled 3.1 billion kroons (212 and 196 million euros, respectively). Compared to the same period of 2009, the volume of building construction decreased 9% and the volume of civil engineering increased 15% at constant prices.
Compared to the 2nd quarter of 2010, the seasonally and working-day adjusted construction volume increased by 7%.
According to the data of the Register of Construction Works, in the 3rd quarter of 2010 the number of dwelling completions was 481, i.e. about a half less than at the same period of 2009. 65% of completed dwellings were situated in block of flats. The majority of completed dwellings were situated in Tallinn. The demand for new dwellings is increasing. In the 3rd quarter building permits were granted for the construction of 526 dwellings, which exceeded the number of dwellings in the 2nd quarter this year as well as in the 3rd quarter of 2009. The most popular type of building was one-family dwelling.
In the 3rd quarter of 2010, the number of completed non-residential buildings was 174 with the useful floor area of 87,000 square metres. The useful floor area of office and commercial buildings increased the most. Compared to the 3rd quarter of 2009, the useful floor area and the cubic capacity of completed non-residential buildings decreased.
Construction volume index and its trend, 1st quarter 2000 – 3rd quarter 2010 (average of quarters of 2005 = 100)
