EECFA 2021 Winter Construction Forecast – 4th pandemic edition

EECFA’s 2021 Winter Construction Forecast Report was released on 6 December. Full reports can be purchased, and a sample report can be viewed here: www.eecfa.com. EECFA (Eastern European Construction Forecasting Association) conducts research on the construction markets of 8 Eastern-European countries.

We are more optimistic for 2022 in the Southeast European region of EECFA than in the previous forecast round. The drop in 2023 is caused by Bulgaria; the awaited shrinkage is so sizeable there that expansion elsewhere in the region might not counterbalance it. Expansion in the East European region of EECFA is foreseen to be smaller both in 2022 and in 2023 than in the previous forecast round. Growth in Turkey was revised downward.

Link to this viz ->

The largest Southeast European construction market of EECFA, Romania, is expected to see only moderate growth on the horizon. Serbia, having recorded the biggest expansion of almost 100% in the 2014-2020 period, is foreseen to plateau in the upcoming years. In Eastern Europe, in Turkey we maintain to believe that the recovery could start, but we lowered our growth expectation compared to our previous forecast. After 2 years of no-growth, Russia’s construction market is foreseen to expand gradually until 2023.

Bulgaria. The Bulgarian economy is recovering more slowly than expected, and the likely growth rate is 3.8% in 2021. However, residential construction looks strong thanks to low interest rates on housing loans, making home purchase more affordable. Real estate is also the safest and easiest way for those wanting to invest to avoid negative deposit rates. The pandemic and its lasting follow-up effects played an additionally strong cooling effect on non-residential construction because of a surge in office and industrial construction earlier and with an emptying pipeline. Zero progress on big-league infrastructure projects will take its toll on growth in civil engineering construction in 2021, but it is set to catch up in 2022. Total construction output in Bulgaria is anticipated to grow by 6.5% in 2021 and 16.5% in 2022. The lack of preparation for the new programming period 2021-2027 and the National Recovery and Resilience Plan are to negatively affect total construction output which is expected to drop by 24.9% in 2023.

Croatia. Croatia’s tourism season surpassed all expectations, driving a 16.2 percentage point swing in the country’s GDP growth, from -8.1% in 2020 to +8.1% this year, and a one-notch jump in its Fitch rating, to BBB. The near-term future of Croatia’s construction sector now depends greatly on the evolution of the COVID-19 pandemic, particularly its effect on tourism. EU and international financial institution crisis-relief funding will, though, soften any blow that the disease delivers. The City of Zagreb’s budget crisis, bureaucratic delays in spending crisis-relief money and much higher construction costs are other negative factors that will affect the growth of construction output, which must be assessed not for the sector as a whole, but segment by segment (e.g., hotels vs. residential).

Romania. The economy is expected to return to pre-pandemic levels, in terms of GDP, by the end of 2021, after growing 7% in real terms. The European Commission forecasts Romania’s GDP growth rate to stay above the EU average in both 2022 (5.1%) and 2023 (5.2%), and, with the help of the Recovery and Resilience Facility (RRF), construction would have a positive ground to grow upon. Total construction output in 2021 is predicted to slightly decline (-0.3%), but to recover and grow in 2022 and 2023. Low interest rates and excess liquidity coalesce into an expanding residential subsector, while non-residential construction continues to be impeded by pandemic-related changes to work habits and various restrictions. On the back of the RRF and the 2014-2020 EU cohesion funds, and despite ongoing difficulties and delays in implementing projects, civil engineering construction continues to have a high potential for growth.

Serbia. After the restrictions in 2020, economic recovery came faster than expected and GDP growth is estimated to reach at least 7.3% in 2021. This strong rebound is supported by accelerated construction activity and increased capital investments, where a high single-digit expansion is projected in 2021 outputs. Construction output is fuelled by civil engineering projects, but also the robust residential and industrial related constructions. Furthermore, budgetary expenditures for investments are planned to reach record levels, with 7.5% of GDP dedicated for this purpose in 2022. All indicators are pointing towards more extensive growth and sustained construction activity at record levels in this forecast horizon.

Slovenia. The Slovenian economy has rebounded stronger than expected after the pandemic. One of the strongest economic growth accelerators was gross fixed capital investment, causing construction output to get back on feet. Total construction output is projected to exceed EUR 4bln sooner than previously predicted – already in 2022 – and reach EUR 4,3bln in 2023. Construction cost growth will probably slow down from a hike in 2021, resulting in a more stable construction environment without supply shocks. This will enable several big civil engineering projects to continue apace, but the main contributor to construction output will be new residential projects. Of course, our forecasts remain contingent on the condition that no further lockdowns hinder the overall economic activity.

Russia. The construction industry in Russia is going through the second year of the pandemic relatively successfully, and the previously expected stagnation in 2021 is likely to turn into a 3.2% growth by the end of the year. This unexpectedly good result was enabled by segments with traditionally active government participation: residential and civil engineering which were supported by large funds. The non-residential subsector also contributed to the growth of the construction market in 2021, mainly due to the massive completion of objects whose construction was previously postponed from 2020. But because all these factors are temporary, construction market growth in 2022 and 2023 will lessen and is prognosticated to post +1.9% and +1.2% per year, respectively, as a part of the potential for the positive dynamics was already exhausted in 2021.

Turkey. The Turkish economy started to regain senses from the pandemic blow in Q3 2020, which continued with high GDP growth in Q2 2021. Although Turkey removed most COVID-19 related restrictions on 1 June 2020 with the elevated number of vaccinations, now, like across Europe, the fourth wave of the pandemic has started (yet with relatively fewer new cases). The estimated economic growth rate by end 2021 is about 10%, but the primary concern in recent months has been high inflation caused by the national currency’s devaluation. Building starts expanded greatly, but completions registered a small drop in the first 9 months of 2021. The government requires interest rates (also for mortgages) to be kept at less than half of the rate of rise in building construction cost. Keeping real incomes positive during high inflation times is important for demand for commodities like housing and other real estates. Turkey’s total construction output is prognosticated to be positive in the forecast horizon with an average growth of 2.6% up to 2023.

Ukraine. For the construction sector in Ukraine, 2021 marks the year of completion of the construction regulation reform launched back in 2019. In mid-September, the newly created State Inspectorate for Architecture and Urban Planning began to work as a full-fledged new body with its own structure, powers, and new work principles. Ukraine’s construction market in H2 2021 has showed a good recovery in investment activity and the resumption of construction. The residential subsector remains the driver of the construction sector due to stable demand from the population. The main constraint in the development of the construction market in 2021 has been increased construction costs despite the active implementation of residential projects against the backdrop of the revival of mortgage lending, increased demand from the manufacturing sector, as well as high volumes of financing.

Q3 2021 Permit-Completion in EECFA area

Latest update: 19 November (with Q3 2021 data in all countries but Ukraine)

We have an all new Permit-Completion visualization of the 8 EECFA (Bulgaria, Croatia, Romania, Russia, Serbia, Slovenia, Turkey, Ukraine) + 1 Euroconstruct countries (Hungary).

Open the full visualization with the link below and come back here for hints:

EECFA Permit-Completion Quarterly – 19 November 2021

Continue reading Q3 2021 Permit-Completion in EECFA area

Rental housing: a potential growth spot in the Russian market

Written by Andrey Vakulenko – MACON Realty Group, EECFA Russia

The residential rental market in Russia is now at the initial stage of development: professional* projects are just beginning to appear, and almost the whole supply is made up of private units in the unorganized* market. However, the active participation of the state and the expected set of measures to stimulate developers and support demand for rental housing should contribute to the active development of the segment: by 2030 at least 45 million sqm of rental houses are planned to be built. At the same time, the longer-term potential is estimated by market experts at the level of at least 20% of the total housing stock in Russia, with the current value of 6% (in absolute terms, about 520 million sqm). Even with the partial realization of the indicated potential, rental housing will certainly play a major part in the Russian construction market in the coming years.

*In this article, by ‘organized/formal/professional, we mean rental objects under professional management such as apart-hotels, rental houses with professional operators, co-living and so on, while by ‘unorganized/informal’ segment we mean individuals renting out their own apartments.

source: DOM.RF

Current rental market

Total rental supply in Russia is estimated at 240 billion sqm (DOM.RF) with about 97% rented by private individuals and most of them not being officially registered with no taxes paid. Yet, professional rental properties (apart-hotels, apartment buildings, co-living, etc.) throughout Russia total at about 60 units, with 45 located in Moscow and St. Petersburg. The segment, despite the current relatively low supply, is developing quite actively, though: over the past 3 years, the market increased 1.6 times in project number, and will likely continue to grow rapidly in mid-term since 31 new projects are under construction with 18.2 thousand dwellings (now the volume of supply in the market is about 10.4 thousand dwellings and about 3.3 thousand beds in co-living).

Plans for regulation

The active development of professional rental homes, the need to regulate the shadow rental market, as well as the current state policy to improve living conditions in Russia in general, have led to new legislative initiatives with three main goals: 1) creating conditions for the further development of the formal market; 2) tightening the regulation of the informal segment; 3) creating a large block of social rental housing on preferential terms for citizens with below-average wages who cannot afford to take out mortgage.

In August 2021, the Ministry of Construction proposed a number of amendments to the current state program dubbed ‘Provision of affordable and comfortable housing and utilities for citizens of the Russian Federation’. Although the planned changes have not yet been adopted and are being examined by anti-corruption experts, it is highly probable that they will come into force. The main measures of the state program for the rental segment are: 1) tax incentives, including building or creating 1buying out apartments (a separate section) in a building under construction and making it a rental object rental homes through collective investment mechanism, 2) tax deduction in the amount equal to rent payments, 3) building or creating rental homes through PPP schemes, 4) subsidizing rent and 5) the provision of land plots on preferential terms.

These measures will ensure the annual volume of rental housing construction of about 5 million sqm by 2030. The stages of implementation are as follows:

  • By end 2021: tax incentives, preferential terms for the provision of land and connection to engineering networks will be developed,
  • By 2024: a fully transparent and legal rental market must be created,
  • By 2030: 45 million sqm of rental housing built (between 2022 and 2030).

Social rental housing

The planned changes are to create the social rental housing segment mainly through the state-owned company DOM.RF, which is currently one of the main financial institutions for the development of the housing sector in Russia. They intend to provide preferential rent for people in need of better housing conditions and for citizens with below-average incomes who cannot afford to take out a mortgage loan to purchase own housing. It will subsidize up to 80% of the rental rate for these categories of citizens. In 2021–2024 about RUB 650 billion will be allocated for this purpose. It is planned to attract private investors and developers to implement social housing projects to build such facilities on preferential terms and are guaranteed to receive the required demand. The difference between the reduced preferential rate and the market rental value will be covered by the state budget, so developers’ lost profit will be compensated for. This should stimulate the construction of new rental homes and increase the attractiveness of the segment for developers previously not interested in such projects due to the long payback periods and the high level of market risks.

Whitening the segment

Another important area of ​​the regulation to contribute to the development of formal rental housing in professional projects is the measures to increase the transparency of the informal market. According to expert estimates, over 90% of housing in Russia is rented out by landlords not paying taxes. Even though the situation slightly improved after the law on the self-employed came into force which lowered the tax rate for renting out housing from 13% to 4% (under several conditions), but most of the market remains in the shadows. Authorities intend to resolve this issue through the introduction of measures in 2021-2024. As of September 2021, the real steps are still under discussion and specific decisions have not yet been made, but, in general, the following steps are planned:

  • a unified electronic system for all residential lease transactions with data from the register being transferred directly to the tax office,
  • a standard lease agreement to protect the rights of tenants,
  • a unified online register of owners renting out housing,
  • to regulate relations between tenants and landlords, a special state-owned company will be created as an intermediary between the parties,
  • penalties for failure to provide data on renting out residential property, and
  • a publicly available ‘blacklist’ of homeowners evading tax liability.

Although this will likely increase the security of rental transactions for tenants, the main difficulty of the transition to the new system will be that it is voluntary for homeowners to register, transfer their data and start paying taxes. Thus, it is planned to provide tax incentives for landlords complying with the new rules in good faith, and to develop additional support measures such as the possibility of introducing a system of guarantees on the part of an intermediary company against non-payments for landlords, as well as insurance against early termination of the contract unilaterally by the tenant, among others. It is also assumed that penalties will gradually be introduced with a long transition period.

Despite all the advantages, the regulation of the informal rental market will lead to increased rental charges: additional taxes and other costs that landlords will have when switching to the new system will be passed on to tenants. This will raise the competition of the informal market with formal rental properties that on average are significantly more expensive than renting homes from individuals, limiting demand for them.

Residential forecast for Russia is available in the latest EECFA Forecast Report Russia up to 2023. For orders and sample report, please visit eecfa.com. EECFA (Eastern European Construction Forecasting Association) conducts research on the construction markets of 8 Eastern-European countries, including Russia.

Fundamental factors determining the segment:

  • Insufficient level of living space and low availability of housing. At the moment, the former indicator is at the level of about 26 sqm/person, less than the values ​​in most European countries and less than the level of comfortable living conditions (30 sqm/person). The construction of at least 600 million sqm would be required, which, with the current volume of completion, would take at least 8 to 10 years. The level of affordability of own housing for the wide range of the population is low. According to the estimates of DOM.RF and the Ministry of Construction, mortgage loans – the key means to buy housing in Russia – are currently unaffordable for 35% of the population who needs to improve living conditions. Such families will not be able to take out a mortgage even with a zero loan rate as their income will be insufficient for monthly repayments. Housing rental is a potential solution, so social rental projects are of key importance.
  • Low level of development of the rental housing market. As of end 2020, only about 6% of the Russian population (about 8.8 million people or about 5.5 million families) lived in rental housing, while this figure in developed countries can reach 50%-60%. Even in the largest Russian cities with the most developed rental markets, the share of rental housing in the total stock does not exceed 10%, which can also be assessed very low.
  • High potential for development. DOM.RF (by far the biggest rental housing operator in Russia) estimates a realistic achievable share of rental housing in the total stock at about 20% long-term. With the current volume of the housing stock (about 3.9 billion sqm), this is potentially about 750 million sqm of rental housing, (about 240 million sqm already built and about 520 million sqm still to be built). The current version of the state program plans to build about 45 million sqm of rental housing until 2030. The market potential will surely not be exhausted in the coming years, making the overall prospects favorable for the segment in the long run.
  • Pandemic effects. The pandemic has had two main consequences. First, a sharp deterioration in the macroeconomic climate last year and a long-expected economic recovery after the recent shocks. Against the backdrop of falling real incomes, own housing has become even more inaccessible for many people, and for some, renting can become a permanent replacement. Second, although less significant to the rental market, the growing popularity of remote work and new sources of demand for rental housing. With many companies shifting to a fully or partially decentralized work format, employees have more opportunity to choose where to work. This raises the number of digital nomads, i.e. employees not tied to an office and having the opportunity to work from any Russian city. The number of transactions in the rental market in mid-term will to some extent grow due to this category. One of the trends in the rental housing is the workspitality format focusing on the needs of such nomads (separate work areas, co-working spaces, meeting rooms).
  • The absence of major growth in real incomes and the lack of macroeconomic prerequisites for this on the horizon. Real disposable income was in the negative between 2014 and 2017 (the decline varying from 0.5% to 4.5% per year), followed by a short period of positive correction (+0.1% in 2018 and +1% in 2019), and then by another decline at end 2020 (-3.5%). Thus, purchasing power has actually been declining for 7 years. At the same time, the Ministry of Economic Development forecasts a rather moderate dynamics of this indicator in 2021-2023: +1.6%-1.9% per year in a conservative scenario and +2.4%-3% per year in the baseline scenario. But even in the best case, by 2023 purchasing power will not return to the level of 2013, which should not contribute to more home purchases, but should grow demand for the rental market.
Continue reading Rental housing: a potential growth spot in the Russian market
  • 1
    buying out apartments (a separate section) in a building under construction and making it a rental object

EECFA countries in the European Commission’s 2021 Macro Forecast

EECFA has again examined the main changes in the prospects between the Autumn 2020 and Spring 2021 Macro Forecasts of the European Commission for those EECFA member countries which are covered by this forecast; Bulgaria, Croatia, Romania, Russia, Serbia, Slovenia, Turkey, plus Hungary.

Written by Bálint Parragi, EECFA Research, ELTINGA

After a severe recession during last year, the global economy as a whole could grow again in Spring 2021, and it is expected to continue doing so. As the first chart shows, GDP in all countries could recover fast and return to an increasing trajectory.

In Autumn 2020, projections showed the majority of the countries in the EECFA region with a stagnating or very slowly increasing economy. This was mainly due to the composition of the 3-year-average comprising a year with a very deep recession, and the two upcoming years with cautious estimations of growth. The only two economies with growth exceeding 1% were Serbia and Turkey (2.3% and 2% respectively) as these economies shrank least in 2020 (-1.8% and -2.5%).

On the other hand, the results are quite different in the European Commission’s Spring 2021 report where every EECFA country registers a positive GDP growth with all of them being at least 0.5%. The order of countries is almost identical to the one in Autumn 2020 and we can see a grouping of countries:

  • The first one is the group of the highest growing two countries, Serbia and Turkey again. This time, Turkey has a higher average growth, though (+3.7% and +2.8% respectively). The significant growth is the result of the slight contraction (or even growth) during 2020 (-1% in Serbia and +1.8% in Turkey).
  • The second group consists of countries with a negligible growth according to the Autumn 2020 report (+0.4-+0.7%) but with a more remarkable increase projected in Spring 2021; above 1% in each case and reaching 1.5% in Romania, Hungary, and Slovenia.
  • The economies in the last category: Croatia, Russia, together with the EU, all decreased according to the Autumn 2020 report, but in the Spring 2021 report it seems that they have better prospects in the future as they may grow to a little extent (+0.5-+1.1%).

When it comes to total investment (gross fixed capital formation) data, two general conclusions can be drawn:

  • Firstly, the projection in Spring 2021 is higher for every country than the Autumn 2020 values. The upward revision is especially remarkable for Turkey, Croatia, and Romania. This again could mean that economic recovery is expected to be a rapid process.
  • Secondly, the expected GFCF growth is positive in every country in 2021, except for Russia where it is close to zero. However, the countries are not homogeneous as Romania, Serbia, Turkey, Croatia and Slovenia have an expected growth within 4%-6%, but Hungary, Bulgaria, and Russia, as well as the EU, has a growth smaller than 2% (average of 2020-2021-2022).

Construction investment growth (where available – click the arrow on the chart above) has been revised upward everywhere, but while in Bulgaria it has grown by just 0.4 percentage points, it has multiplied in Hungary, Slovenia and Romania. For the latter, it has even exceeded 8% per annum. Construction’s share in total investment in EECFA countries and Hungary ranges from 55% (Bulgaria) to 64% (Romania), with Hungary and Slovenia in between (62% and 59%, respectively).

All these represents the Commission’s opinion. If you are curious about our opinion on Eastern European construction markets or you need construction forecast on segment level, please consult with the latest EECFA reports. For a sample report and order, visit eecfa.com

Q3 2020 Permit-completion results of EECFA countries

[status on 30.11.2020]

Most figures were published about Q3 2020, the period in between the 2 waves of the pandemic. Permit figures have started to recover in Turkey. In Serbia and Romania housing permit is still very high. Bulgaria is over the recent peak. Dive in the updated graphs about Eastern-European countries:

  1. Residential permit-completion (number of dwellings)
  2. Non-residential permit-completion (floor area and number of buildings)

And our forecast until 2022 is just days away, out on 8 December 2020.

Q2 2019 Permit-completion results of EECFA countries

As all Q2 figures are available, our visualizations with the 8 EECFA countries are updated.

In the Balkans, 4 out of five countries are peaking in housing permits. Especially Bulgaria, Romania and Serbia are at outstanding levels. In the meantime, Turkey has touched further lows in Q2; the quarterly permit figure is hardly higher than that of Ukraine.

Discover the full visualization at Tableau Public
Turkey: housing permit-completion, source: TUIK, EECFA

Full visualization:
1. Residential permit-completion (number of dwellings)

Ukraine and Romania are also close to their recent peaks in non-residential permits; the level of these in terms of sqm is not exceptional, though. Serbia has the big story in non-residential. Around 2.6 million sqm of permitted space (in the latest 4 quarters together) is huge, 2.5 times higher than back in 2008.

Full visualization:
2. Non-residential permit-completion (floor area and number of buildings)

Serbia: non-residential permit-completion, source: SORS, EECFA

Építésaktivitás vizualizálva – Magyarország

A posztot és a tableau viz-t összeállította: Gáspár János, Buildecon

EBI-dataviz-teljes-építési-piac

Korábban írtunk már ezen a blogon is az EBI Építésaktivitási Jelentésről, amikor bemutattuk ezen kutatásunk első eredményeit. A kutatás lényege, hogy egyedi építési projektek adataiból olyan aggregátumokat alakítsunk ki amelyek új, naprakész információt hordoznak az építési piac szegmenseinek aktuális alakulásáról. Most egy következő szintre léptünk.

Röviden a legfontosabbak:

  • A vizualizációval a három mutatószámunkat, (1) Aktivitás-Kezdés, (2) Teljesítmény, (3) Aktivitás-Befejezés, összefüggéseiben mutatjuk meg.
  • Az Aktivitás-Kezdés, hasonlóan az építési engedélyhez, un. előidejű mutatószám, azaz rövidtávú előrejelző képessége van. Az Aktivitás-Kezdés alakulása meghatározza, hogyan fog a Teljesítmény és az Aktivitás-Befejezés alakulni.
  • Az építési piac minden szegmensére látható, hogy milyen értékben indultak el kivitelezési munkák, hogy ez milyen Teljesítmény és milyen befejezési értéket eredményez. A legürdülő menük segítségével több részpiac, illetve több szegmens egyszerre is vizsgálható.
  • Érdemes teljes képernyős módban nézni, a jobb alsó sarokban lévő  ikonra kattintva tud erre a nézetre váltani.
  • 2018 3. negyedévről készült jelentés mögötti adatokat jelenítettük meg. Az azóta eltelt negyedévekről folyamatosan frissítettük a vizualizációt. Ha érdekli a legfrissebb, 2019 1. negyedéve, vagy bármilyen kérdése van, kérem írjon nekünk: ebi@ibuild.info.
  • Az alapadatok, vagyis az egyedi építési projektek forrása az ibuild.info, a mutatókat és az aggregálás módszertanát az ELTINGA és a Buildecon közösen dolgozta ki.

2016 Permit-Completion results of EECFA countries

See this summary table on how construction permit ended up in 2016 in the

  • 8 EECFA Countries where we have members
  • and in Hungary (as Buildecon is the Hungarian member to EUROCONSTRUCT)

T12+

and here you can follow the development of both permit and completion on interactive charts:

  1. Residential permit-completion (number of dwellings)
  2. Non-residential permit-completion (floor area and number of buildings)

On the residential graphs, the number of dwellings is displayed, and you can choose the countries and the data type. Besides these options, on non-residential graphs you can also choose the indicator type (floor area or number of buildings)

Beyond market feeling: 3 indicators we created for understanding better what is happening on the construction market

This post of mine appeared first on the EUROCONSTRUCT blog in mid-February and introduced one of our researches in Hungary. This research is about creating such aggregates from the data of individual construction projects which carry new, up-to-date information on the current performance of construction market segments. Since then, however, we have published our first findings for the EECFA member Romania as well. Most of the original text stands for Romania too, but there are some differences so these are included in brackets.

1_intro_normal
Thanks to The National Bank of England for the fan chart and Cosgrove Hall Films for Jamie and the Magic Torch

The regular fan-chart of The Bank of England’s GDP forecast is perfectly honest about the challenge we all face while putting together historical construction data and forecast. Uncertainty is there, not only on the right, but on the left of the dotted line as well, thanks to revisions. This post is focusing on how uncertainty surrounding the present and some months ahead in the future could be eased with aggregated construction project data. These are Hungarian and Romanian examples.

Continue reading Beyond market feeling: 3 indicators we created for understanding better what is happening on the construction market

EBI Építésaktivitási Jelentés

  • Hány darab irodaprojekt építése kezdődött meg 2016 1. félévben az országban?
  • 114 darab
  • De ebből mennyi az új építés, és mekkora a volumene?
  • 33 darab és az összes becsült építési érték 66 milliárd forint.
  • És mennyi felújítási projekt indult el oktatási épületeken?
  • 80
  • Milyen értékben?
  • 14.9 milliárd forintnyi, ami 20%-kal kevesebb, mint 2015 1.  félévében.

Az összes magas és mélyépítési szegmensre ilyen és ehhez hasonló adatokat állítunk elő egy kutatás keretében, melynek első kézzel fogható összegzése szeptemberben készült el. Az összes az jelenti, hogy a lakásépítést külön, a nem-lakáscélú magasépítést 9, a mélyépítést 8 szegmensbe kategorizálva aggregáljuk az egyedi építési projektadatokat.

Ezt a posztot egyfajta kézikönyvnek szánjuk, hogy bemutassuk milyen adatok kerültek az EBI Építésaktivitási jelentésbe.

A sajtóanyag itt elérhető: .zip (egy pdf és néhány kép)

A teljes anyag az ibuild.info oldalán olvasható (regisztáció után)

1. A fenti példát folytatva, azon kívül, hogy 114 irodaprojekt kivitelezési munkái indultak el az országban 2016 1. félévében, azt mutajuk még be, hogy ezek várt építési értéke 88 milliárd forint, és hogy ez háromszor annyi mint az előző év hasonló időszakában elindult irodaprojektek építési értéke.

aktivitas_1

Continue reading EBI Építésaktivitási Jelentés