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Published: 10 December 2020

Value of renovation projects of construction enterprises directed to buildings was EUR 9.5 billion in 2019

According to Statistics Finland, the value of building projects was EUR 21.4 billion in building construction enterprises with at least five employees in 2019. Of building construction made by enterprises, EUR 9.5 billion were directed to renovation building, around 60 per cent of which was done by specialised construction enterprises and 40 per cent by actual building construction enterprises.

Renovation building and newbuilding projects

Renovation building and newbuilding projects

No change in the share of renovation building from the previous year

The share of renovation building in all building construction projects was 44 per cent, which was the same as in the year before. The value of renovation building was EUR 9.5 billion and that of newbuilding EUR 11.9 billion. The euro-dominated value of renovation building decreased in building construction, whereas in specialised construction the growth increased.

The value of building projects of large enterprises with at least 60 employees focusing on main contracts was EUR 9.9 billion, of which newbuilding constituted 68 per cent. For smaller building construction and specialised construction enterprises, the value of projects was EUR 11.5 billion, of which the share of renovation building was 55 per cent. The value of newbuilding projects decreased in building construction enterprises compared to the previous year.

The statistics do not contain data on the projects of the smallest construction enterprises that employ less than five people. Renovation building concentrates on small construction enterprises and, as the number of employees grows, the share of newbuilding in the enterprise’s building construction projects grows.

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 people 52 48
Enterprises employing 10 to 59 people 56 44
Large enterprises employing at least 60 people 32 68
All total 44 56

Of all building construction projects in renovation building, 49 per cent concerned renovations of residential buildings and 51 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 less than five people.

Source: Renovation of building construction enterprises. Statistics Finland

Inquiries: Elina Peltoniemi 029 551 3088, Liina Arhosalo 029 551 3612,

Head of Department in charge: Hannele Orjala

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Appendix tables

Updated 10.12.2020

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of building construction enterprises 2019. Helsinki: Statistics Finland [referred: 20.5.2024].
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