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Published: 9 December 2021

Value of renovation projects of construction enterprises directed to buildings was EUR 7.7 billion in 2020

According to Statistics Finland, the value of building projects was EUR 19.6 billion in building construction enterprises with at least five employees in 2020. Of building construction by enterprises, EUR 7.7 billion were directed to renovation building, around 53 per cent of which was done in the specialised construction industry and 47 per cent in the actual building construction industry. The value of renovation building decreased by nearly 19 per cent from 2019.

Renovation building and newbuilding projects 2012 — 2020

Renovation building and newbuilding projects 2012 — 2020

Share of renovation building diminished in medium-size enterprises

The share of renovation building of all building construction projects fell to 39 per cent. In medium-size enterprises with 10 to 59 employees, the share of renovation building decreased by ten percentage points from the year before. The value of renovation building was EUR 7.7 billion and that of newbuilding EUR 11.9 billion. The growth in the euro-dominated value of renovation building fell in both building construction and specialised construction.

The value of building projects of large enterprises with at least 60 employees focusing on main contracts was EUR 9.7 billion, of which newbuilding constituted 70 per cent. The value of projects was EUR 1.5 billion for small construction enterprises and EUR 8.5 billion for medium-size enterprises. The value of newbuilding projects fell from the previous year in building construction and rose in specialised construction.

Of renovation building, 49 per cent was directed to residential buildings and 51 per cent to other buildings. 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 by size category in 2020, per cent

Renovation building as a share of all building projects, % Newbuilding as a share of all building projects, %
Enterprises with 5 to 9 employees 60 40
Enterprises with 10 to 59 employees 46 54
Large enterprises with at least 60 employees 30 70
All enterprises, total 39 61

The statistics on renovation building of construction enterprises are based on a sample of construction enterprises with at least five employees. The sample of 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 persons.

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 9.12.2021

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of building construction enterprises 2020. Helsinki: Statistics Finland [referred: 20.7.2024].
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