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Published: 11 December 2018

Value of renovation projects of construction enterprises directed to buildings was EUR 8.9 billion in 2017

According to Statistics Finland, the value of building projects was EUR 20.4 billion in building construction enterprises with at least five employees in 2017. Of building construction made by enterprises, EUR 8.9 billion were directed to renovation building, around one-half of which was done by specialised construction enterprises and one-half by actual building construction enterprises.

Renovation building projects by industry

Renovation building projects by industry

Share of renovation building grew

The shares of renovation building and newbuilding in all projects directed to construction of buildings came still closer to each other. Renovation building accounted for 44 per cent of all projects while the corresponding figure was 42 per cent in 2016. The value of renovation building was EUR 8.9 billion and that of newbuilding EUR 11.5 billion. The growth in renovation building took place in both building construction and specialised construction.

Newbuilding projects by industry

Newbuilding projects by industry

The value of building projects of large enterprises with over 50 employees focusing on main contracts was EUR 10.7 billion, of which newbuilding constituted 70 per cent. For smaller building construction and specialised construction enterprises, the value of projects was EUR 9.7 billion, of which the share of renovation building was 59 per cent.

Shares of renovation building and newbuilding, per cent

  Renovation building as a share of all building projects, % Newbuilding as a share of all building projects, %
Enterprises employing 5 to 9 persons 59 41
Enterprises employing 10 to 49 persons 59 41
Large enterprises employing over 50 persons 30 70
All total 44 56

Of all building construction projects in renovation building, 52 per cent concerned renovations of residential buildings and 48 per cent other buildings.

The statistics on construction enterprises' renovation building are based on a sample of building construction enterprises with at least five employees. The inquiry comprises in total approximately 1,100 enterprises. Building construction enterprises refer to such construction enterprises whose projects concern buildings. The inquiry does not include the value of founder contracting or the value of projects of construction enterprises employing under five persons.

Source: Renovation of building construction enterprises. Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Merja Järvinen 029 551 2458,

Director in charge: Mari Ylä-Jarkko

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Appendix tables

Updated 11.12.2018

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of building construction enterprises 2017. Helsinki: Statistics Finland [referred: 19.7.2024].
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