Published: 1 October 2021

EUR 1.6 billion were used for renovating commercial and office buildings

According to Statistics Finland, EUR 980 million were spent on renovating office buildings and EUR 620 million on renovating commercial buildings in 2020. Compared with the previous year, the renovation costs of commercial buildings decreased by 12 per cent and those of office buildings by 22 per cent. In total, the renovations of commercial and office buildings decreased by 19 per cent.

In 2020, industrial and warehouse buildings were renovated for EUR 1.3 billion and service buildings for EUR 1.6 million. The renovation costs of industrial and warehouse buildings decreased by 9.6 per cent and those of service buildings by 10.7 per cent from 2019.

The value of commercial and office building renovations was last studied with a sample survey concerning the renovations in 2017. The renovation costs for 2018 and 2019 have been estimated using renovation and expansion permits granted for commercial and office buildings. For industrial and warehouse buildings, the realised costs were studied with an inquiry in 2018 and the years 2019 to 2020 were estimated based on data on granted renovation and expansion permits. Correspondingly, the renovation costs of service buildings were studied with an inquiry for 2019 and estimated based on granted renovation and expansion permits for 2020.

Renovation costs of buildings by purpose of use of the building, EUR million

Year Use of the building
  Industrial buildings and warehouses Commercial buildings Office buildings Service buildings
2013 . . . 1,298
2014 . 669 910 1,223 1)
2015 919 668 1) 1,032 1) 1,229 1)
2016 1,030 1) 756 1) 1,140 1) 1,739
2017 1,125 1) 631 1,004 1,623 1)
2018 1,305 648 1) 1,120 1) 1,595 1)
2019 1,415 1) 709 1) 1,256 1) 1,834
2020 1,279 1) 623 976 1,639 1)
1) Estimated based on renovation and expansion permits

The table below contains costs of renovation building from the statistical release on renovations of buildings and dwellings in June and from this release on renovations of non-residential buildings. The renovation costs of these objects fell by 2.2 per cent from 2019.

Renovation costs of buildings and apartments, EUR million

Building type Year
  2020 2019 2018 2017 2016 2015
Owner-occupied dwellings, detached and semi-detached houses 4,004 3,719 4,163 3,687 4,180 3,942
Housing companies 2,412 2,321 2,146 2,527 2,438 2,323
State-subsidised rental dwelling companies 506 448 446 475 450 442
Industrial buildings and warehouses 1,279 1,415 1,305 1,125 1,030 919
Public service buildings 1,639 1,834 1,595 1,623 1,739 1,229
Office buildings 976 1,256 1,120 1,004 1,140 1,032
Commercial buildings 623 709 648 631 756 668
Total 11,439 11,702 11,423 11,072 11,733 10,555

Source: Renovation of buildings and apartments. Statistics Finland

Inquiries: Eetu Toivanen 029 551 3331, Liina Arhosalo 029 551 3612, rakennus.suhdanne@stat.fi

Head of Department in charge: Hannele Orjala

Publication in pdf-format (191.9 kB)

Tables

Tables in databases

Appendix tables


Updated 01.10.2021

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of buildings and apartments 2020. Helsinki: Statistics Finland [referred: 26.10.2021].
Access method: http://www.stat.fi/til/kora/2020/02/kora_2020_02_2021-10-01_tie_001_en.html