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Published: 11 December 2019

Value of renovation projects of construction enterprises directed to buildings was EUR 9.2 billion in 2018

According to Statistics Finland, the value of building projects was EUR 21.2 billion in building construction enterprises with at least five employees in 2018. Of building construction made by enterprises, EUR 9.2 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 and newbuilding projects

Renovation building and newbuilding projects

No change in the share of renovation building from 2017

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 9.2 billion and that of newbuilding EUR 12.0 billion. The growth in the euro-dominated value of renovation building slowed down in both building construction and specialised construction.

The value of building projects of large enterprises with over 50 employees focusing on main contracts was EUR 11.7 billion, of which newbuilding constituted 69 per cent. For smaller building construction and specialised construction enterprises, the value of projects was EUR 9.5 billion, of which the share of renovation building was 58 per cent. Newbuilding projects grew in building construction enterprises.

The statistics do not contain data on the projects of smaller construction enterprise that employ under five persons. Renovation building concentrates on the smallest 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 persons 60 40
Enterprises employing 10 to 49 persons 58 42
Large enterprises employing over 50 persons 31 69
All total 44 56

Of all building construction projects in renovation building, 53 per cent concerned renovations of residential buildings and 47 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, Eetu Toivanen 029 551 3331,

Director in charge: Mari Ylä-Jarkko

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Appendix tables

Updated 11.12.2019

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of building construction enterprises 2018. Helsinki: Statistics Finland [referred: 29.9.2023].
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