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CONSTRUCTION ACTIVITY IN EUROPEL’ACTIVITÉ DE LA CONSTRUCTION EN EUROPEDIE BAUTÄTIGKEIT IN EUROPA

EDITION 2017

EUROPEAN CONSTRUCTIONINDUSTRY FEDERATION

TOTAL CONSTRUCTION

€ 1,278BILLION

CONSTRUCTION WORKERS:

14.3 MILLION

3.3 MILLIONENTERPRISES

OF WHICH:95% ARE SME’S

WITH FEWER THAN 2093% WITH FEWER

THAN 10 OPERATIVES

28.9%OF INDUSTRIAL EMPLOYMENT

43.8%OF GROSS FIXED

CAPITAL FORMATION

ALL KEY FIGURES AS AT 2016 (EU 28)

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42.9 MILLIONWORKERS

IN THE EU DEPEND,

DIRECTLY OR INDIRECTLY, ON THE CONSTRUCTION SECTOR

6.4%OF EUROPE’S

TOTAL EMPLOYMENT

8.6%OF EU GDP

* Source: Communication from the Commission “The Competitiveness of the Construction Industry” COM(97) 539 of 4/11/1997, chapter 2

MULTIPLIER EFFECT:*

Created in 1905Legal personality under French law

26 countries (23 EU, Switzerland, Norway and Turkey)

29 National member federations representing firms:• of all sizes• of all building and civil engeneering specialties• practising all kind of working methods (whenever operationg as general contractors or as sub-contractors)

Associate members:EFFC European Federation of Foundation ContractorsEQAR European Quality Association for Recycling e.V.

Cooperation Agreement: NFB National Federation of Builders (UK)

FIEC

Partnerships

Sectoral Social Dialogue

Social Partner in the European Sectoral Social Dialogue of the Construction Industry together with FETBB-EFBWW-EFBH (European Federation of Building and Woodworkers)http://ec.europa.eu/social/main.jsp?catId=480‎

EICCooperation with EIC (European International Contractors) for activities beyond Europe’s borderswww.eic-federation.eu

CICAThe European founding member of CICA (Confederation of International Contractors’ Associations)www.cica.net

ECFParticipant in the ECF (European Construction Forum)www.ecf.be

EHFMember of EHF (European Housing Forum)www.europeanhousingforum.eu

CENPartner Organisation of CEN (European Committee for Standardisation)www.cen.eu

ECCREDIMember of ECCREDI (European Council for Construction Research, Development and Innovation)www.eccredi.org

WorldSkill EuropeAssociate Member of WorldSkills Europewww.euroskills.org

Campaigns & Portals

Renovate Europe Partner in the Renovate Europe Campaign www.renovate-europe.eu

Safety and health at work is everyone’s concern. It’s good for you. It’s good for business.

Healthy Workplaces for All AgesPromoting a sustainable working life

Healthy Workplaces (OSHA)

Partner in the OSHA (European Agency for Health and Safety at Work) Campaign on “Healthy Worpkplaces for All Ages”www.healthy-workplaces.eu

BUILD UPPartner of BUILD UP (The european Portal for energy efficiency in Buildings) www.buildup.eu

Projects

Posting of workersFIEC-EFBWW website on “Posting of workers”www.posting-workers.eu

Construction for youth

FIEC-EFBWW website on “Construction for youth”www.construction-for-youth.eu

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http://www.construction-for-youth.eu

CONTENTS

EU

AT

BE

BG

CY

CZ

DE

DK

EE

ES

FI

FR

GR

HU

IE

IT

LT

NL

PL

PT

RO

SE

SI

UK

CH

NO

TR

Introduction 6

Total construction output by country 7

European Union 8

Austria 24

Belgium 26

Bulgaria 28

Cyprus 30

Czech Republic 32

Germany 34

Denmark 36

Estonia 38

Spain 40

Finland 42

France 44

Greece 46

Hungary 48

Ireland 50

Italy 52

Lithuania 54

The Netherlands 56

Poland 58

Portugal 60

Romania 62

Sweden 64

Slovenia 66

United Kingdom 68

Switzerland 70

Norway 72

Turkey 74

List of the experts 76

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INTRODUCTION

It is a great pleasure for me to introduce this new edition (no. 60) of the annual FIEC Statistical Report.

The report provides an overview of recent de-velopments and perspectives in the construction industry in the various EU Member States, as well as a series of indicators with figures, both for each country and for the EU as a whole. The map shown opposite gives an overall view of the performance of the construction industry in the various European countries in 2016.

For the first time in almost a decade, the econo-mies of all EU Member States grew in 2016 and are expected to grow further throughout 2017 and 2018. This trend is generally supported by sustained improvement in employment, which is boosting private consumption; and very low financing costs and strengthening global activity, which is stimulating investment.

However, this outlook is overshadowed by high uncertainty due to the overall volatile political en-vironment in the EU and the world, in particular the new administration of the United States, the numerous upcoming elections in Europe, the Brexit negotiations, the Middle-East crisis and the issue of refugees.

Within this framework, the recovery of the construction activity, observed since 2014 (+1.7%), has continued at a modest but stable pace: +2.1% in 2015 and +2.2% in 2016. It is expected to grow by 2.2% in 2017. The main driving forces in 2016 were clearly the new housebuilding segment (+8%) and the private non-residential segment (+6.6%), influenced by the overall economic recovery.

Behind this overall picture however, the situation continues to vary significantly from one country to another. Indeed, despite the overall decline in the general government deficit, several Member States still have to cope with the necessary budgetary consolidation measures which have been put in place and which sometimes lead to significant cuts in public investment. This has a strong impact on our sector, in particular when it comes to building and maintaining public infrastructure.

In these circumstances, FIEC never stops reminding political decision-makers of the impor-tance of investment, both public and private, for the sake of the EU’s competitiveness. In the medium-term, projects financed under the Investment Plan for Europe (also known as the “Juncker Plan”) should increasingly support private and public investment as they progress from approval to implementation. This plan is expected to trigger €315 billion by the end of 2017 and negotiations for an increase in funds to €500 billion by 2020 are ongoing.

It is up to us to seize this opportunity and to mobilise our forces at all levels (EU, national, regional, local), in order to ensure that projects that can benefit not only larger companies, but also SMEs, are promoted to investors and eventually launched.

I would like to thank all the people in FIEC and from our Member Federations who have contributed to this report and I sincerely hope that its content will be useful and interesting for all readers.

Prof. Thomas BauerChairman of the Economic and Legal Commission

C’est avec grand plaisir que je vous présente cette nouvelle édition (N° 60) du rapport statistique annuel de la FIEC.

Il dresse l’inventaire des récentes avancées et pers-pectives pour le secteur de la construction dans les différents États membres européens et fournit di-vers indicateurs chiffrés, tant pour chaque membre que pour l’Union européenne dans son ensemble. Par ailleurs, la carte ci-jointe donne un aperçu global des performances de l’industrie de la construction dans les différents pays européens en 2016.

Pour la première fois depuis presque une décennie, la situation économique de tous les États membres de l’UE s’est améliorée en 2016 et devrait poursuivre sa croissance en 2017 et 2018. En général, cette tendance bénéficie de l’amélioration durable de l’emploi qui favorise la consommation des ménages, ainsi que des coûts de financement très faibles et du renforcement de l’activité mondiale qui stimulent l’investissement.

Cependant, cette perspective est atténuée par une forte incertitude due au climat politique général volatile au sein de l’UE et du monde, en particulier la nouvelle administration des États-Unis, les nombreuses élections à venir en Europe, les négociations du Brexit, la crise au Moyen-Orient et la question des réfugiés.

Dans ce contexte, la reprise de l’activité de la construction, constatée depuis 2014 (+1,7%), s’est poursuivie à un rythme relativement modeste, mais stable: +2,1% en 2015 et +2,2% en 2016. Elle devrait augmenter de 2,2% en 2017. Les principaux moteurs de croissance en 2016 étaient sans équivoque le secteur des nouvelles constructions résidentielles (+8%) et le segment non-résidentiel privé (+6,6%), influencés par la reprise économique globale.

Néanmoins, derrière ce tableau d’ensemble, la si-tuation continue de varier de façon significative d’un pays à l’autre. En effet, malgré la diminution globale du déficit public, plusieurs États membres doivent encore faire face aux mesures de consolidation budgétaire requises qui ont été mises en place et qui sont parfois à l’origine de coupes sombres dans l’investissement public. Cela a une forte influence sur notre secteur, en particulier sur la construction et l’entretien des infrastructures publiques.

Dans ces circonstances, la FIEC n’a de cesse de rappeler aux décideurs politiques l’importance de l’in-vestissement, à la fois public et privé, dans l’intérêt de la compétitivité de l’UE. À moyen terme, les projets financés par le Plan d’investissement pour l’Europe (également appelé « Plan Juncker ») doivent soutenir les investissements privés et publics lorsqu’ils passent de l’approbation à la mise en place. Ce plan devrait générer 315 milliards d’euros d’ici la fin de l’année 2017 et les négociations pour augmenter ce plan à 500 milliards d’euros d’ici 2020 sont en cours.

C’est donc à nous de saisir cette opportunité et d’unir nos forces à tous les niveaux (européen, national, régional, local) pour veiller à promouvoir auprès des investisseurs des projets qui seront à la fois bénéfiques aux plus grandes entreprises, mais aussi aux PME, afin qu’ils puissent enfin être démarrés.

Je souhaiterais remercier toutes les personnes de la FIEC et de nos fédérations membres qui ont participé à ce rapport, et j’espère sincèrement que tous ses lecteurs trouveront son contenu utile et intéressant.

Professeur Thomas Bauer Président de la Commission économique et juridique

Es ist mir eine große Freude, Ihnen diese neue Ausgabe (Nr. 60) des jährlichen Statistikberichts der FIEC zu präsentieren.

Der Bericht enthält einen Überblick über die jüngsten Entwicklungen und Perspektiven der Bauwirtschaft in den einzelnen EU-Mitgliedstaaten sowie eine Reihe von Indikatoren mit Zahlen auf Länder- und EU-Ebene. Die Karte auf der gegenüberliegenden Seite bietet eine Gesamtübersicht zur Performance der Bauwirtschaft in den einzelnen europäischen Ländern im Jahr 2016.

Zum ersten Mal in beinahe einem Jahrzehnt wiesen die Volkswirtschaften aller EU-Mitgliedstaaten in 2016 wieder ein Wachstum auf und es ist zu erwarten, dass sich dieses Wachstum 2017 und 2018 fortsetzt. Dieser Trend wird allgemein von einer andauernden Verbesserung der Beschäftigungslage gestützt, die den privaten Verbrauch ankurbelt, sowie von sehr niedrigen Finanzierungskosten und einer sich erho-lenden globalen Konjunktur, die stimulierend auf die Investitionstätigkeit wirkt.

Dieser Ausblick wird jedoch von hohen Unsicherheiten aufgrund der insgesamt unbeständigen politischen Lage in der EU und der Welt überschattet, insbesondere die neue Regierung in den USA, die diversen bevorstehen-den Wahlen in Europa, die Brexit-Verhandlungen, die Krise im Nahen Osten und die Flüchtlingsfrage.

Vor diesem Hintergrund setzte sich in der Bauwirtschaft die Erholung, die seit 2014 (+1,7%) zu beobachten ist, in einem zwar bescheidenen aber beständigen Tempo fort: +2,1% in 2015 und +2,2% in 2016. Die Wachstumsprognose für 2017 liegt bei 2,2%. Die wichtigsten Triebkräfte im Jahr 2016 waren eindeutig die Segmente Wohnungsneubau (+8%) und privater Nichtwohnungsbau (+6,6%), denen die allgemeine Konjunkturerholung zugutekam.

Hinter diesem Gesamtbild verbergen sich jedoch sehr unterschiedliche Situationen in den einzelnen Ländern. Trotz der insgesamt rückläufigen Staatsdefizite müssen mehrere Mitgliedstaaten die vorgenommenen, erforderlichen Maßnahmen zur Konsolidierung ihrer Haushalte bewältigen, die manchmal zu deutlichen Einschnitten in die öffentlichen Investitionen führen. Das hat schwerwiegende Folgen für unseren Sektor, insbesondere was den Bau und die Unterhaltung öffentlicher Infrastrukturen betrifft.

Unter diesen Umständen lässt die FIEC nicht nach, die politischen Entscheidungsträger an die Bedeutung von öffentlichen und privaten Investitionen zu erinnern. Die Wettbewerbsfähigkeit der EU hängt davon ab. Mittelfristig dürften die unter dem Investitionsplan für Europa (auch bekannt als „Juncker-Plan“) finanzierten Vorhaben private wie öffentliche Investitionen auf ihrem Weg von der Genehmigung zur Durchsetzung zu-nehmend unterstützen. Dieser Plan soll bis Ende 2017 315 Milliarden Euro in Bewegung setzen, wobei bereits Verhandlungen laufen, um die Mittel bis 2020 auf 500 Milliarden Euro aufzustocken.

Unsere Aufgabe ist es nun, diese Chance zu nutzen und unsere Kräfte auf allen Ebenen (EU, national, regional, lokal) zu mobilisieren, um sicherzustellen, dass Investoren Vorhaben vorlegen und letztendlich auch durchführen, die nicht nur größeren Unternehmen zugutekommen, sondern auch den KMU.

Ich möchte allen bei FIEC und unseren Mitgliedsver-bänden danken, die an diesem Bericht mitgewirkt haben und ich hoffe, dass er für alle Leser nützliche und interessante Inhalte enthält.

Prof. Thomas BauerVorsitzender Wirtschafts- und Rechtsausschuss

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TOTAL CONSTRUCTION OUTPUT BY COUNTRY

NB:The text and data contained within the European report have been drawn up on the basis of the national reports supplied by the FIEC Member Federations.

EU2.2%

AT1.6%

BE3.6%

NL7.0%

LUNA

IE12.5%

BG-5.9%

RO-4.8%

CH3.9%

CYNA

TRNA

CZNA

PL-4.1%

DE3.1%

DK5.8%

NO7.8%

SE10.4%

EE2.7%

LT-9.4%

ES3.0%

UK0.4%

PT-3.3%

FI6.0%

FR2.6%

HRNA

GR-2.1%

IT0.3%

MTNA

SKNA

SI-13.2%

HUNA

NB:Le texte et les données du chapitre Union Européenne ont été élaborés sur la base des rapports nationaux envoyés par les fédérations membres de la FIEC.

NB:Der Text und die Zahlen des Kapitels „Europäische Union“ beruhen auf den von den FIEC-Mitgliedsverbänden zur Verfügung gestellten nationalen Berichten.

Variation of production in real terms on previous year (2016/2015)

Variation du volume de la production sur l’année précédente (2016/2015)

Reale Veränderungsrate im Vergleich zum Vorjahr (2016/2015)

Co-operation Agreement

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1. General economic overview

According to the European Commission’s February 2017 economic forecast, the European economic recovery is expected to continue. GDP growth in the EU as a whole is forecast to reach 1.8% this year and the next. For the first time in almost a decade, the economies of all EU Member States are expected to grow throughout 2016, 2017 and 2018.

However, the outlook is over-shadowed by greater than usual uncertainty. This is due to the - as yet unclear - intentions of the new administration in the United States concerning key policy areas, as well as the numerous elections to be held in Europe this year and the imminent “Article 50” negotiations with the UK. Further uncertainties are linked to the geo-political situ-ation in the Middle-East and to the handling of the refugee crisis.

Private consumption is set to remain the main growth driver, supported by sustained improve-ment in the employment rate and in nominal wage growth. However, with inflation rising (+1.8% in 2017 in the EU), limiting the growth of household purchasing power this year and the next, private consumption is expected to slow down.

Investment is set to continue grow-ing but only moderately (+2.9% in the EU in 2017), supported by very low financing costs and strength-ening global activity. However, the share of investment in GDP remains below that seen at the turn of the century (20% in 2016, com-pared to 22% in 2000-2005). This persistent weakness in investment casts doubt over the sustainability of the recovery and the economy’s potential growth.

The economic recovery is con-tinuing to have strong positive

1. Aperçu économique général

Selon les prévisions économiques de la Commission européenne de février 2017, l’économie européenne devrait poursuivre sa reprise. La croissance du PIB dans l’ensemble de l’UE devrait atteindre 1,8% cette année et l’année suivante. Pour la première fois depuis près de dix ans, les économies de tous les États membres de l’UE devraient croître en 2016, 2017 et 2018.

Ces perspectives sont toutefois assom-bries par un climat d’incertitude plus grand qu’à l’accoutumée. Cela est dû au fait que la nouvelle administration améri-caine doit encore clarifier ses intentions dans des domaines politiques clés, ainsi que par les nombreuses élections qui doivent se tenir en Europe cette année et les prochaines négociations avec le Royaume-Uni en vertu de l’« article 50 ». D’autres incertitudes sont liées à la situa-tion géopolitique au Moyen-Orient et à la gestion de la crise des réfugiés.

La consommation privée devrait rester le principal moteur de croissance et sera soutenue par des améliorations durables de l’emploi et une hausse plus impor-tante des salaires nominaux. Toutefois, la croissance de la consommation privée est appelée à ralentir, car l’inflation va augmenter (+1,8% en 2017 dans l’UE) et limiter la hausse du pouvoir d’achat des ménages cette année et l’année prochaine.

L’investissement devrait poursuivre sa progression, mais à un rythme modéré (+2,9% dans l’UE en 2017), stimulé par des coûts de financement très faibles et le redressement de l’activité mondiale. La part des investissements dans le PIB reste toutefois inférieure à ce qu’elle était au tournant du siècle (20% en 2016, par rapport à 22% en 2000-2005). Cette faiblesse persistante de l’investissement sème le doute sur le caractère durable de la relance et le potentiel de croissance de l’économie.

La reprise économique continue à avoir d’importants effets positifs sur les marchés du travail, après les réformes

1. Allgemeine Konjunkturlage

aut der Konjunkturprognose der Europäischen Kommission vom Februar 2017 ist zu erwarten, dass sich die kon-junkturelle Erholung fortsetzen wird. Für die gesamte EU wird für das laufende und das kommende Jahr ein BIP-Wachstum von jeweils 1,8% prognostiziert. Erstmalig seit fast einem Jahrzehnt wird in allen EU-Mitgliedstaaten für 2016, 2017 und 2018 ein Anstieg der Wirtschaftsleistung erwartet.

Dieser Ausblick wird jedoch von größerer Unsicherheit als sonst überschattet. Dies ist zurückzuführen auf die – bisher unkla-ren – Absichten der neuen Regierung in den Vereinigten Staaten in zentralen Politikfeldern, die zahlreichen in diesem Jahr anstehenden Wahlen in Europa und die bevorstehenden Verhandlungen zu Artikel 50 des EU-Vertrags mit dem Vereinigten Königreich. Weitere Unsicherheit ergibt sich aus der geopo-litischen Lage im Nahen Osten und der Bewältigung der Flüchtlingskrise.

Zentraler Wachstumstreiber bleibt wei-terhin der private Konsum, gestützt durch eine nachhaltige Verbesserung der Lage am Arbeitsmarkt und der Steigerung der Bruttolöhne. Diese Entwicklung dürfte jedoch an Schwung einbüßen, wenn die Inflationsrate ansteigt (+1,8% in der EU im Jahr 2017) und damit das Kaufkraftwachstum der privaten Haushalte in diesem und im kommenden Jahr gebremst wird.

Bei den Investitionen ist ein weiteres, wenn auch moderates Wachstum zu erwarten (+2,9% in der EU im Jahr 2017), gestützt durch sehr geringe Finanzierungskosten und eine Belebung der globalen Wirtschaftstätigkeit. Der Investitionsanteil am BIP liegt jedoch weiterhin unter dem zur Jahrtausendwende verzeichneten Stand (20% im Jahr 2016 gegenüber 22% im Zeitraum 2000-2005). Diese anhaltende Investitionsschwäche lässt Zweifel hinsichtlich der Nachhaltigkeit der Konjunkturerholung und des potenziellen Wirtschaftswachstums aufkommen.

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Sectors 2008 2009 2010 2011 2012 2013 2014 2015 2016a 2017b

1. Building -0.6 -9.4 -0.5 2.7 -2.9 -2.1 2.4 1.7 2.9 2.4

1.1. Housebuilding -3.3 -10.3 2.8 2.9 -2.3 -1.6 4.9 2.5 4.7 2.9

1.1.1. New -9.6 -16.6 7.3 6.5 -4.6 -1.9 6.2 3.8 8.0 4.7

1.1.2. R&M 1.6 -3.0 1.8 1.8 0.3 -0.4 4.0 2.1 1.8 1.6

1.2. Non residential ** 2.8 -8.8 -5.5 1.7 -3.8 -2.6 0.6 -0.1 3.2 1.6

1.2.1. Private 2.8 -11.6 2.2 2.2 -2.7 -2.0 0.8 0.7 6.6 1.9

1.2.2. Public 3.1 0.7 -1.7 -0.7 -8.1 -3.8 3.5 -2.3 -5.9 0.9

2. Civil Engineering 2.3 0.8 0.9 0.6 -5.9 -1.8 -1.1 6.1 -0.3 1.1

(1 + 2) Total Construction * -0.2 -7.6 -0.6 2.3 -3.5 -1.9 1.6 2.1 2.2 2.2

* without: CY, CZ, EE, GR, HR, HU, IE, LU, LV, MT, SK ** incl. R&M

80

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96

98

100

102

104

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

Housebuilding - Logement - Wohnungsgebau Non residential - Non-résidentiel - Nichwohnbau Civil Engineering - Génie Civil - Tiefbau Total Construction - Bauwesen

2008 = 100

VARIATION OF PRODUCTION IN REAL TERMS ON PREVIOUS YEAR (%)

VARIATION DU VOLUME DE LA PRODUCTION SUR L’ANNÉE PRÉCÉDENTE (%)

REALE VERÄNDERUNGSRATE IM VERGLEICH ZUM VORJAHR (%)

INVESTMENT IN CONSTRUCTION INVESTISSEMENT DANS LA CONSTRUCTION INVESTITIONEN IN BAUWESEN

€ 14,834BILLION € 1,278 BILLION

GDP 2016 TOTAL CONSTRUCTIONOUTPUT 2016

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effects on labour markets, following extensive structural reforms in sev-eral Member States. Employment growth is projected to remain relatively solid in 2017 and 2018. In the EU as a whole, unem-ployment is expected to fall from 8.5% in 2016 to 8.1% this year and to 7.8% in 2018. These are the lowest unemployment figures since 2009 but they remain above pre-crisis levels.

2. Overall construction activity

Against this background, overall construction output in the EU in 2016 amounted to €1,278 billion, which represented 8.6% of GDP.

The recovery observed since 2014 (+1.7%) continued at a modest but stable pace in 2015 (+2.1%) and 2016 (+2.2%) and is expected to reach +2.2% in 2017. The main driving force in 2016 was clearly the new housebuilding segment (+8%). Influenced by the overall economic recovery, the private non-residential segment also showed a strong upward trend (+6.6%). However, at the same time, the public non-residential sector decreased quite significantly (-5.9%) and civil engineering activ-ity stabilised (-0.3%).

Behind this overall picture the situation continues to vary signif-icantly from country to country. A positive sign, however, is that activity in 2016 improved in a greater number of EU countries. In particular, this was the case in France (+2.6%) and Italy (+0.3%) where the never ending drop in activity finally stopped. In general, the Nordic countries recorded significant growth, with +10.4% in Sweden, +6% in Finland, +5.8% in Denmark, +2.7% in Estonia, as well as +7% in the Netherlands, +3.6% in Belgium and an impres-sive +12.5% in Ireland. Austria also finally recorded growth (+1.6%). Germany and the United Kingdom remained the engines of the EU

structurelles de grande ampleur menées dans plusieurs États membres. L’emploi devrait continuer à croître à un rythme relativement soutenu en 2017 et 2018. Pour ce qui est de l’UE dans son ensemble, le chômage devrait diminuer, de 8,5% en 2016 à 8,1% en 2017 et à 7,8% en 2018. Ces chiffres du chômage sont les plus bas depuis 2009, mais restent supérieurs aux niveaux d’avant la crise.

2. Activité globale de construction

Dans ce contexte, la production de l’ac-tivité globale de construction dans l’UE s’est élevée en 2016 à 1 278 milliards €, ce qui représente 8,6% du PIB.

La reprise observée depuis 2014 (+1,7%) s’est poursuivie à un rythme modeste, mais stable en 2015 (+2,1%) et 2016 (+2,2%) et devrait atteindre +2,2% en 2017. Le principal moteur du secteur en 2016 a clairement été le segment de la construction résidentielle (+8%). Influencé par la reprise écono-mique globale, le segment non-résidentiel privé a aussi montré une forte tendance à la hausse (+6,6%). Mais on a observé au même moment une diminution assez significative de l’activité du segment non-résidentiel public (-5,9%) et une stabilisation de l’activité du génie civil (-0,3%).

Derrière ce tableau d’ensemble, la situation continue à varier énormément d’un pays à l’autre. Le fait que l’activité en 2016 se soit améliorée dans un plus grand nombre de pays de l’UE est toute-fois un signe positif. Cela a en particulier été le cas en France (+2,6%) et en Italie (+0,3%), où la baisse incessante de l’ac-tivité a finalement pris fin. Globalement, les pays nordiques ont enregistré une croissance importante, avec +10,4% en Suède, +6% en Finlande, +5,8% au Danemark, +2,7% en Estonie, ainsi que +7% aux Pays-Bas, +3,6% en Belgique et une progression impressionnante de +12,5% en Irlande. L’Autriche a elle aussi connu une croissance de l’activité (+1,6%). L’Allemagne et le Royaume-Uni sont restés les moteurs de l’UE dans le secteur, avec une progression de respectivement +3,1% et +0,4%. Il

Die wirtschaftliche Erholung wirkt sich weiterhin äußerst positiv auf den Arbeitsmarkt aus, nachdem verschie-dene Mitgliedstaaten umfassende Strukturreformen umgesetzt haben. In den Jahren 2017 und 2018 wird ein relativ solides Beschäftigungswachstum erwartet. Für die Gesamt-EU wird ein Rückgang der Arbeitslosenquote von 8,5% im Jahr 2016 auf 8,1% in diesem Jahr und auf 7,8% 2018 prognostiziert. Hierbei handelt es sich um die niedrigsten Arbeitslosenzahlen seit 2009, auch wenn diese weiterhin über den Werten der Jahre vor der Krise liegen.

2. Entwicklung in der Bauwirtschaft

Vor diesem Hintergrund lag das Gesamtvolumen der Bauinvestitionen in der EU im Jahr 2016 bei 1 278 Mrd. Euro, ein Anteil von 8,6% am BIP.

Die Erholung des Jahres 2014 (+1,7%) setzte sich 2015 (+2,1%) und 2016 (+2,2%) moderat und stabil fort und soll 2017 einen Wert von +2,2% erreichen. Größter Wachstumstreiber 2016 war eindeutig der Wohnungsneubau (+8%). Unter dem Einfluss der allgemeinen Konjunkturerholung erlebte auch der pri-vate Nichtwohnungshochbau einen starken Aufwärtstrend (+6,6%). Im öffentlichen Bereich des Nichtwohnungshochbaus war die Entwicklung mit -5,9% jedoch signifi-kant negativ, während sich die Bautätigkeit im Tiefbau nahezu unverändert zeigte (-0,3%).

Auf Länderebene zeichnen sich in Abgrenzung zur Gesamtlage zum Teil sehr unterschiedliche Entwicklungen ab. Positiv ist jedoch, dass in mehr EU-Ländern im Jahr 2016 Zuwächse bei der Bautätigkeit zu verzeichnen waren. Dies gilt insbeson-dere für Frankreich (+2,6%) und Italien (+0,3%), wo der endlos scheinende Rückgang der Bautätigkeit endlich ein Ende fand. In Skandinavien wurde erheb-liches Wachstum verzeichnet (Schweden +10,4%, Finnland +6%, Dänemark +5,8%). Gleiches gilt für Estland (+2,7%), die Niederlande (+7%), Belgien (+3,6%) und Irland (beeindruckende +12,5%). Auch Österreich konnte endlich wie-der Wachstum verbuchen (+1,6%). Deutschland und das Vereinigte Königreich bleiben die Wachstumsmotoren der EU

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NB: The absolute value figures concerning the total volume of construction are given for guidance only and are provisional. The reason for this is that in the various countries these figures are not necessarily calculated on the same basis.

Country 2015(1) Constr. (2) Total economy (1)/(2)

United Kingdom 141.5 2,300 6.2%Germany 124.8 2,730 4.6%France 106.0 1,950 5.4%Italy 70.1 1,475 4.8%Spain 54.6 976 5.6%Poland 31.3 399 7.8%Netherlands 28.0 608 4.6%Sweden 22.8 438 5.2%Belgium 20.0 367 5.4%Austria 19.4 303 6.4%Finland 11.5 181 6.4%Denmark 11.0 236 4.7%Romania 9.3 141 6.6%Czech Republic 8.6 150 5.7%Portugal 6.2 161 3.8%Ireland 6.0 237 2.5%Slovakia 5.6 71 7.9%Hungary 3.8 92 4.2%Greece 3.7 155 2.4%Lithuania 2.4 34 7.3%Luxembourg 2.3 46 5.0%Croatia 1.9 37 5.2%Slovenia 1.8 33 5.5%Bulgaria 1.7 39 4.3%Latvia 1.4 22 6.5%Estonia 1.1 17 6.2%Cyprus 0.6 16 3.6%Malta 0.3 8 3.7%EU28 697.6 13,220 5.3%Switzerland 31.3 568 5.5%Norway 29.6 346 8.6%Turkey 63.0 681 9.3%

Country 2016a(1) Constr. (2) GDP (1)/(2)

Germany 310 3,134 9.9%United Kingdom 175 2,356 7.4%France 165 2,214 7.5%Italy 126 1,671 7.5%Spain 108 1,114 9.7%Netherlands 61 697 8.7%Sweden 48 459 10.6%Poland 48 466 10.2%Belgium 44 422 10.5%Austria 35 350 9.9%Finland 32 216 14.8%Denmark 26 277 9.3%Czech Republic 17 171 9.9%Ireland 15 266 5.6%Portugal 11 185 5.8%Romania 9 168 5.6%Greece 9 176 5.1%Bulgaria 8 47 17.5%Slovakia 7 81 8.9%Hungary 6 112 5.2%Luxembourg 6 54 10.6%Lithuania 2 38 6.0%Estonia 2 21 10.3%Croatia 2 46 4.4%Latvia 2 25 8.0%Slovenia 2 40 4.2%Cyprus 2 18 9.4%Malta 1 10 8.2%EU28 1,278 14,834 8.6%Switzerland 61 591 10.4%Norway 60 405 14.7%Turkey 129 776 16.7%

GROSS VALUE ADDED - CONSTRUCTION / TOTAL ECONOMY

VALEUR AJOUTEE BRUTE - CONSTRUCTION / TOTAL ECONOMIE

BRUTTOWERTSCHÖPFUNG - BAUGEWERBE / GESAMTWIRTSCHAFT

CONSTRUCTION INVESTMENT/GDP INVESTISSEMENT CONSTRUCTION/PIB BAUINVESTITIONEN/BIP

Current prices in Bln. € %

Current prices in Bln. €

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in the sector, recording growth of +3.1% and +0.4% respectively. One must recall however that in many cases, these increases in activity are measured against historically low baselines.

Several other countries recorded a negative trend. These include Bulgaria (-5.9%), Greece (-2.1%) albeit at a much slower pace than in recent years, Lithuania (-9.4%) and Slovenia (-13.2%). In Poland, Romania and Portugal (-4.1%, -4.8% and -3.3% respectively), the poor figures for 2016 seem to be a one-off, partially resulting from the transition between two financial periods for EU co-financ-ing programmes.

The sector remains affected by the economic and political uncertain-ties within the EU and at the inter-national level mentioned above, in particular with regard to long-term public and private investment. In spite of this, activity is forecast to grow at the same pace in 2017 (+2.2%). In particular, the contri-bution of the various construction segments to this growth will be more balanced, as all of them are expected to grow, albeit only mod-erately. The main driver will remain new housebuilding (+4.7%)

In the medium term, projects financed under the Investment Plan for Europe (also known as the “Juncker Plan”) should increas-ingly support private and public investment as they progress from approval to implementation. This Plan is expected to trigger €315 billion by the end of 2017 and negotiations for an increase in financing to €500 billion by 2020 are ongoing.

3. New housebuilding

The historically low interest and mortgage rates, as well as improvements in the labour market

convient toutefois de rappeler que, dans de nombreux cas, ces augmentations de l’activité sont mesurées par rapport à des chiffres de référence historiquement bas.

Plusieurs autres pays ont enregistré une tendance négative. Il s’agit notamment de la Bulgarie (-5,9%), de la Grèce (-2,1%), mais à un rythme plus lent qu’au cours des dernières années, de la Lituanie (-9,4%) et de la Slovénie (-13,2%). En Pologne, en Roumanie et au Portugal (-4,1%, -4,8% et -3,3%), les faibles chiffres pour 2016 semblent être exceptionnels, en partie à cause de la transition entre deux périodes financières pour les programmes de cofinancement de l’UE.

Le secteur reste touché par le climat d’incertitude économique et politique au sein de l’UE et à l’échelle interna-tionale (comme mentionné plus haut), en particulier en ce qui concerne les investissements publics et privés à long terme. Malgré ce contexte difficile, l’activité devrait croître au même rythme en 2017 (+2,2%). La contribution des différents segments de la construction à cette croissance sera notamment plus équilibrée vu que tous ces segments devraient enregistrer une croissance, quoique modérée. La construction résidentielle restera le principal moteur de croissance (+4,7%).

À moyen terme, les projets financés dans le cadre du Plan d’investissement pour l’Europe (aussi connu sous le nom de « Plan Juncker ») devraient soutenir davantage les investissements publics et privés au fur et à mesure qu’ils progressent du stade de l’approbation à celui de la mise en œuvre. Ce plan devrait générer 315 milliards € d’ici la fin 2017 et des négociations pour augmen-ter le financement à 500 milliards € d’ici 2020 sont en cours.

3. Construction résidentielle

La construction résidentielle (+8% en 2016) continue à être soutenue par des taux d’intérêt et hypothécaires historique-ment bas ainsi que par des améliorations

mit Zuwächsen von 3,1% bzw. 0,4%. Zu berücksichtigen ist jedoch, dass die Verbesserungen in vielen Ländern von historisch niedrigen Ausgangswerten erfolgten.

In mehreren anderen Ländern ging die Bautätigkeit zurück, unter anderem in Bulgarien (-5,9%), Griechenland (-2,1%, wenn auch wesentlich geringer als in den Vorjahren), Litauen (-9,4%) und Slowenien (-13,2%). In Polen, Rumänien und Portugal (-4,1%, -4,8% und -3,3%) scheinen die schlechten Ergebnisse für das Jahr 2016 einmalige Ereignisse zu sein, die auf den Übergang zwischen zwei Finanzierungsperioden der Kofinanzierungsprogramme der EU zurück-zuführen sind.

Die Bauwirtschaft leidet weiterhin unter der wirtschaftlichen und politischen Unsicherheit in der EU sowie auf inter-nationaler Ebene, insbesondere mit Blick auf langfristige öffentliche und private Investitionen. Trotz dieser Vorzeichen wird für 2017 ein unvermindertes Wachstum der Bautätigkeit prognostiziert (+2,2%). Der Beitrag der verschiedenen Bausegmente zu diesem Wachstum wird sich ausgewogener gestalten als im Vorjahr, da in allen Segmenten – wenn auch moderate – Zuwächse erwartet wer-den. Wachstumsmotor wird wie gehabt der Wohnungsneubau sein (+4,7%).

Mittelfristig sollten über den Investitionsplan für Europa (auch „Juncker-Plan“ genannt) finanzierte Projekte private und öffentliche Investitionen, die von der Genehmigungs- in die Umsetzungsphase gehen, in zuneh-mendem Maße anstoßen. Über diesen Plan sollen bis Ende 2017 Investitionen in Höhe von 315 Mrd. Euro generiert wer-den. Zudem laufen Verhandlungen über eine Erhöhung des Finanzierungsrahmens auf 500 Mrd. Euro bis 2020.

3. Wohnungsneubau

Das historisch niedrige Niveau von Zinsen und Hypothekenzinsen sowie die Erholung am Arbeitsmarkt und der Anstieg der verfügbaren Einkommen der Privathaushalte erweisen sich weiterhin als Stütze für den Wohnungsneubau

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production (Mln. € fixed prices) Per cent variation of production in real terms on previous year

Country 2016a 2013 2014 2015 2016a 2017bAT Austria 34,410 -0.9 -0.1 -0.6 1.6 1.4

BE Belgium 38,035 -0.9 1.2 1.6 3.6 2.2

BG Bulgaria 7,627 -6.4 17.5 21.4 -5.9 NA

CZ Czech Rep. NA -11.5 -3.3 7.2 NA NA

DE Germany 268,564 -1.1 1.9 0.3 3.1 2.0

DK Denmark 24,439 0.9 3.6 3.9 5.8 1.2

EE Estonia 1,894 3.2 -2.1 -3.8 2.7 NA

ES Spain 117,334 -9.5 1.2 4.9 3.0 3.2

FI Finland 28,326 -3.2 -3.7 3.3 6.0 2.0

FR France 156,448 -1.4 -5.1 -3.0 2.6 3.0

GR Greece 9,164 -13.4 -19.9 -3.3 -2.1 NA

IE Ireland 14,226 1.2 10.1 7.6 12.5 NA

IT Italy 119,879 -7.5 -5.2 -1.0 0.3 0.8

LT Lithuania 1,921 11.3 16.7 -3.5 -9.4 NA

NL Netherlands 62,475 -5.3 2.2 8.0 7.0 4.5

PL Poland 48,800 -6.0 8.7 6.7 -4.1 3.7

PT Portugal 10,531 -15.0 -4.5 1.5 -3.3 2.6

RO Romania 23,425 10.3 0.4 9.6 -4.8 7.1

SE Sweden 42,595 -1.3 9.4 8.3 10.4 4.8

SI Slovenia 1,468 -3.8 12.7 -3.2 -13.2 7.5

UK United Kingdom 181,938 5.2 9.9 5.7 0.4 NA

EU European Union 1,193,500 -1.9 1.6 2.1 2.2 2.2

CH Switzerland 61,353 2.2 2.0 -1.8 3.9 1.1

NO Norway 50,450 1.5 1.2 1.7 7.8 3.5



BE Belgium 31,695 -0.3 1.7 1.8 4.4 2.7

BG Bulgaria 2,481 -7.7 -0.9 13.2 -10.2 NA

CZ Czech Rep. NA -6.0 NA NA NA NA

DE Germany 231,801 -1.2 1.8 0.5 3.2 2.0

DK Denmark 16,710 -1.5 7.7 3.2 5.5 3.6

EE Estonia 1,345 3.6 3.4 -1.8 12.8 NA

ES Spain 97,126 -5.3 2.5 5.4 5.0 4.9

FI Finland 19,942 -4.6 -4.6 -0.1 7.8 2.4

FR France 119,728 -3.0 -4.9 -2.4 2.0 3.4

GR Greece 1,142 -31.6 -53.8 -28.2 -15.2 NA

IE Ireland 10,687 4.5 11.4 9.1 13.5 NA

IT Italy 104,915 -7.3 -5.2 -1.4 0.3 0.6

LT Lithuania 1,127 15.3 23.7 4.7 -2.2 NA

NL Netherlands 47,700 -7.2 1.9 10.5 8.8 5.4

PL Poland 33,900 -4.5 8.1 7.8 -2.3 1.8

PT Portugal 5,492 -15.9 -7.8 2.1 1.4 3.1

RO Romania 10,070 7.5 40.4 -4.8 6.1 6.4

SE Sweden 33,700 -0.7 9.8 9.6 11.9 5.7

SI Slovenia 696 -13.4 -10.7 9.7 6.4 10.2


EU European Union 958,720 -2.1 2.4 1.7 2.9 2.4

CH Switzerland 47,350 2.5 1.8 -1.6 3.5 1.3

NO Norway 35,613 -0.4 -0.4 1.4 6.7 1.2

TOTAL CONSTRUCTION TOTAL CONSTRUCTION BAUWESEN

BUILDING BÂTIMENT HOCHBAU

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and rising disposable income for households, continue to support new housebuilding (+8% in 2016). This segment represented 21.8% of the EU’s total construction activity and was the main engine of the sector in many Member States. A further increase of 4.7% is expected in 2017.

In 2016, an increase was observed in Germany (+9.2%), where the residential market represented 61% of total construction activity. Other countries also experienced growth. In Spain (+4.5%), house prices started growing again in the more dynamic regions. France (+7.4%) was helped by incentive mechanisms like the zero rate loan and the “Loi Pinel” in favour of rental investment. The United Kingdom’s growth (+8.4%), was achieved amidst a housing shortage. Belgium’s growth (+5%) was mostly due to a transition in energy efficiency requirements in Flanders. In Poland (+4%), the residential market represents only 30% of total construction activity. In Portugal (+2.6%) and Austria (+1.6%), rising house prices stim-ulated investment in housing.

The Nordic countries even experienced a boom: +26.6% in Denmark, where the on-going negotiations on housing taxa-tion might have a “stop and go” effect in the near future, +20% in Finland, +37% in Sweden, as well as +11.7% in the Netherlands, partly because of a strong inflow of asylum seekers for whom dwell-ings were (and still are) needed. Ireland (+13.2%) was boosted by the Action Plan “Rebuild Ireland” and the recent “Help to Buy” scheme for first-time buyers.

At the same time, other countries recorded a decrease, like Bulgaria which had a strong decline of 16.5%. Also, in Italy, it was the only declining segment in 2016 (-3.4%) where housebuilding

sur le marché du travail et l’augmentation du revenu disponible pour les ménages. Ce segment représentait 21,8% de l’ac-tivité globale de construction dans l’UE et a été le principal moteur du secteur dans de nombreux États membres. Une augmentation supplémentaire de 4,7% est prévue en 2017.

En 2016, une hausse de l’activité a été observée en Allemagne (+9,2%), où le marché résidentiel représentait 61% de l’activité globale de construction. D’autres pays ont aussi connu une belle progression. En Espagne (+4,5%), les prix des habitations sont repartis à la hausse dans les régions plus dyna-miques. La France (+7,4%) a été aidée par des mécanismes d’incitation, comme le prêt à taux zéro et la « loi Pinel » en faveur de l’investissement locatif. La croissance du Royaume-Uni (+8,4%) a été réalisée dans un contexte de pénurie de logements. La croissance de la Belgique (+5%) s’explique en grande partie par une transition dans les exigences en matière d’efficacité énergétique en Flandre. En Pologne (+4%), le marché résidentiel ne repré-sente que 30% de l’activité globale de construction. Au Portugal (+2,6%) et en Autriche (+1,6%), la hausse des prix des logements a stimulé les investissements dans le secteur résidentiel.

Les pays nordiques ont même connu un véritable essor de l’activité: +26,6% au Danemark, où les négociations en cours sur la taxation des logements pourraient avoir un effet « stop and go » dans un avenir proche, +20% en Finlande, +37% en Suède, et +11,7% aux Pays-Bas, en partie à cause d’un afflux impor-tant de demandeurs d’asile pour lesquels des logements ont été (et sont encore) nécessaires. L’Irlande (+13,2%) a été soutenue par le Plan d’action « Rebuild Ireland » et le récent programme « Help to Buy » destiné à ceux qui achètent un logement pour la première fois.

Au même moment, d’autres pays ont enregistré une baisse de l’activité, comme la Bulgarie qui a connu une forte chute de 16,5%. En Italie aussi, il s’agissait du seul segment en baisse en

(+8% im Jahr 2016). Dieses Segment stand für 21,8% der gesamten euro-päischen Bauinvestitionen und bleibt in vielen Mitgliedstaaten ein wichtiger Wachstumstreiber. Für 2017 wird ein weiterer Anstieg von 4,7% erwartet.

2016 wurde in Deutschland ein deut-liches Plus verzeichnet (+9,2%) – hier machte der Wohnungsbau 61% der Bauinvestitionen aus. Aber auch in anderen Ländern gab es einen Aufschwung: In Spanien (+4,5%) zogen die Preise im Wohnungsneubau in den dynamischeren Regionen wieder an, in Frankreich (+7,4%) machten sich finanzielle Anreize wie zinsfreie Kredite und die „Loi Pinel“ zur Förderung von Investitionen in Mietimmobilien bemerkbar, während das klare Plus im Vereinigten Königreich (+8,4%) auf die Wohnungsknappheit zurückzuführen ist. Das Wachstum in Belgien (+5%) erklärt sich vor allem durch strengere Richtlinien bei den Energieeffizienzvorgaben in Flandern. In Polen (+4%) macht der Wohnungsbau nur 30% der Bauinvestitionen aus. In Portugal (+2,6%) und Österreich (+1,6%) haben steigende Preise für Wohnimmobilien die Investitionsbereitschaft erhöht.

In Skandinavien kann man sogar von einem wahren Boom sprechen: +26,6% in Dänemark, wo die laufenden Verhandlungen zum Thema Wohnsteuer in naher Zukunft zu einem „Stop & Go“-Effekt führen könnten, +20% in Finnland, +37% in Schweden und +11,7% in den Niederlanden, unter anderem aufgrund des starken Zuzugs von Asylsuchenden, für die Wohnraum benötigt wurde (und wird). Irland (+13,2%) profitierte vom Aktionsplan „Rebuild Ireland“ und dem kürzlich angelaufenen Förderprogramm „Help to Buy“ für Erstkäufer von Immobilien.

In anderen Ländern wurden im sel-ben Zeitraum rückläufige Tendenzen ermittelt, wie beispielsweise in Bulgarien mit -16,5%. In Italien war der Wohnungsneubau im Jahr 2016 das einzige rückläufige Segment (-3,4%). Der Wohnungsbau wurde hier ausschließlich von Bautätigkeiten in den Bereichen

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Country 2016a 2013 2014 2015 2016a 2017bAT Austria 15,977 -0.1 -0.6 0.1 1.5 1.6

BE Belgium 17,609 -1.8 6.0 3.9 3.5 1.4

BG Bulgaria 735 -4.3 -0.4 5.6 -14.9 NA


DE Germany 163,784 -0.8 3.0 1.5 4.3 2.6

DK Denmark 10,137 -6.2 7.3 4.5 8.9 3.1

EE Estonia NA 11.5 24.1 -6.1 NA NA

ES Spain 61,716 -5.6 5.0 5.8 5.2 5.6

FI Finland 11,608 -3.3 -6.3 0.4 9.1 2.6

FR France 73,621 -3.5 -6.0 -1.1 3.5 4.4

GR Greece NA NA NA NA NA NA

IE Ireland 6,799 -1.8 15.9 8.8 9.8 NA

IT Italy 63,064 -3.3 -4.2 -1.9 0.1 0.6

LT Lithuania 396 13.2 50.2 38.3 10.4 NA

NL Netherlands 27,450 -8.9 2.8 20.2 13.2 6.6

PL Poland 14,200 -6.3 5.9 10.4 2.9 2.1

PT Portugal 2,677 -18.0 -10.0 2.5 5.0 3.0

RO Romania 4,795 -13.2 63.4 -11.8 11.9 4.1

SE Sweden 20,213 0.9 15.6 16.1 17.0 8.7

SI Slovenia 302 -9.7 -10.4 24.8 35.4 13.2

UK United Kingdom 65,345 7.4 20.2 -0.4 4.0 NA


CH Switzerland 28,487 2.7 0.9 -2.7 3.6 1.6

NO Norway 19,414 2.5 -3.7 2.8 11.0 1.7


Country 2016a 2013 2014 2015 2016a 2017bAT Austria 11,007 0.1 -0.8 0.0 1.6 1.8

BE Belgium 7,492 -1.6 10.0 3.4 5.0 0.9

BG Bulgaria 588 -5.9 -2.5 4.9 -16.5 NA


DE Germany 56,290 5.1 8.5 7.9 9.2 6.9

DK Denmark 2,845 -16.5 4.2 17.2 26.6 8.2

EE Estonia NA 4.5 63.3 5.4 NA NA

ES Spain 37,485 -7.0 6.0 4.5 4.5 5.5

FI Finland 5,272 -9.6 -13.0 -2.8 20.0 4.0

FR France 32,743 -6.0 -11.9 -3.0 7.4 8.6


IE Ireland 3,772 -4.5 32.5 12.7 13.2 NA

IT Italy 19,186 -12.4 -14.0 -6.8 -3.4 -1.4

LT Lithuania 304 41.2 47.7 29.8 21.2 NA

NL Netherlands 12,150 -15.6 -2.0 28.7 11.7 8.8

PL Poland 10,500 -8.7 6.0 13.5 4.0 1.9

PT Portugal 1,686 -23.3 -19.9 1.7 2.6 1.4

RO Romania 2,362 -24.7 75.5 -29.3 12.1 7.9

SE Sweden 12,572 10.4 27.9 24.1 37.0 13.3

SI Slovenia 192 -19.8 -12.5 24.3 71.9 15.0



CH Switzerland 20,311 2.1 0.9 -3.6 3.1 2.3

NO Norway 12,734 3.8 -7.5 3.2 16.8 1.7

HOUSEBUILDING LOGEMENT WOHNUNGSBAU

NEW HOUSEBUILDING LOGEMENT NEUF WOHNUNGSNEUBAU

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activity was sustained exclusively by renovation and maintenance activity. Moreover, 2015 recorded the lowest level of new construc-tion permits for houses.

4. Rehabilitation and maintenance

Rehabilitation and maintenance activity was relatively stable before and throughout the crisis, thereby cushioning the entire construction sector. This trend is expected to continue in the near future. In 2016, R&M activities grew by 1.8%, reflecting growth in this segment in the majority of EU countries. A further increase of 1.6% is expected in 2017.

In 2016 this segment developed positively in Austria (+1.4%), Belgium (+2.5%) and Germany (+1.8%). In the latter, efforts were mostly put into energy efficiency of housing. The segment also devel-oped in Denmark (+3.3%), Spain (+6.2%), Finland (+1.5%), Ireland (+5.8%), and Italy (+1.7%), where it is the growth engine of the housebuilding segment. Other countries with a similar trend included the Netherlands (+14.4%), due to important meas-ures in favour of energy efficiency, Portugal (+9.4%), Romania (+11.8%) and France, with growth of only +0.5%, in spite of favoura-ble incentives.

In contrast, in 2016 R&M activities declined in the United Kingdom (-1.1%) and more sharply in Sweden (-9.3%), due to higher taxes for households. Other coun-tries with similar trends include Lithuania (-14.6%), Bulgaria (-8.1%), even though priority is given to this segment and in particular to energy efficiency improvements. Slovenia was also affected (-1.2%) and in Poland, activity remained flat.

2016 (-3,4%) où l’activité résidentielle n’a été soutenue que par l’activité de rénovation et de maintenance. De plus, 2015 a été l’année qui a enregistré le niveau le plus bas de permis de construire pour des logements.

4. Réhabilitation et maintenance

L’activité de réhabilitation et de mainte-nance a été relativement stable avant et pendant la crise, jouant ainsi un rôle d’amortisseur pour tout le secteur de la construction. Cette tendance devrait se poursuivre dans un avenir proche. En 2016, les activités de R&M ont augmenté de 1,8%, ce qui reflète une progression de ce segment dans la majorité des pays de l’UE. Une augmentation supplémen-taire de 1,6% est prévue en 2017.

En 2016, ce segment a connu une évolution positive en Autriche (+1,4%), en Belgique (+2,5%) et en Allemagne (+1,8%), où les efforts portent essen-tiellement sur l’efficacité énergétique des habitations. Le segment s’est aussi développé au Danemark (+3,3%), en Espagne (+6,2%), en Finlande (+1,5%), en Irlande (+5,8%) et en Italie (+1,7%), où il s’agit du moteur de crois-sance du segment résidentiel. D’autres pays affichant une tendance similaire sont les Pays-Bas (+14,4%), suite à des mesures importantes en faveur de l’efficacité énergétique, le Portugal (+9,4%), la Roumanie (+11,8%) et la France, avec une croissance de +0,5% seulement malgré des mesures d’incita-tion favorables.

En 2016, les activités de R&M ont par contre enregistré une baisse au Royaume-Uni (-1,1%) et la Suède (-9,3%) a de son côté connu une diminution encore plus marquée en raison de l’augmentation des taxes pour les ménages. D’autres pays affichant des tendances similaires sont la Lituanie (-14,6%), la Bulgarie (-8,1%), même si la priorité est donnée à ce segment et en particulier aux améliorations en matière d’efficacité énergétique. La Slovénie a aussi été impactée (-1,2%) et en Pologne, l’activité est restée stable.

Modernisierung und Instandhaltung getragen. Darüber hinaus wurde 2015 die niedrigste Anzahl an Baugenehmigungen für Wohnungsneubauten registriert.

4. Modernisierung und Instandhaltung

Das Segment Modernisierung und Instandhaltung entwickelte sich vor und während der Krise relativ stabil und hatte damit eine nicht unwesentliche stützende Wirkung für die Bauwirtschaft insgesamt. Diese Entwicklung soll sich in naher Zukunft fortsetzen. Im Jahr 2016 hat das Modernisierungs- und Instandhaltungssegments um 1,8% zuge-legt, was ein Wachstum dieses Sektors in den meisten EU-Staaten widerspiegelt. Für 2017 wird ein weiteres Plus von 1,6% erwartet.

2016 entwickelte sich das Segment positiv in Österreich (+1,4%), Belgien (+2,5%) und Deutschland (+1,8%), wo der Focus auf Maßnahmen zur Steigerung der Energieeffizienz lag. Auch in Dänemark (+3,3%), Spanien (+6,2%), Finnland (+1,5%), Irland (+5,8%) und Italien (+1,7%) zeigte das Segment Aufwärtstendenzen und kann als Wachstumsmotor des Wohnungsbaus betrachtet werden. Weitere Länder mit ähnlich positiver Entwicklung waren unter anderem die Niederlande (+14,4%) dank umfangreicher Förderungsmaßnahmen zugunsten der Energieeffizienz, Portugal (+9,4%), Rumänien (+11,8%) und Frankreich mit einem Wachstum von ledig-lich 0,5% trotz finanzieller Anreize.

Im Gegensatz dazu verzeich-nete das Modernisierungs- und Instandhaltungssegment einen Abwärtstrend im Vereinigten Königreich (-1,1%) und einen sehr deutlichen Abschwung in Schweden (-9,3%) auf-grund der höheren Steuerlast für die pri-vaten Haushalte. Weitere Länder mit ähnli-chen Tendenzen waren Litauen (-14,6%) und Bulgarien (-8,1%), obwohl der Sektor an sich und insbesondere Maßnahmen zur Optimierung der Energieeffizienz in beiden Ländern in hohem Maße gefördert wer-den. Slowenien verzeichnete ebenfalls ein Minus (-1,2%), während die Ergebnisse in Polen unverändert blieben.

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Country 2016a 2013 2014 2015 2016a 2017bAT Austria 4,970 -0.4 -0.2 0.3 1.4 1.0

BE Belgium 10,118 -1.9 3.3 4.3 2.5 1.8

BG Bulgaria 147 4.7 10.5 8.8 -8.1 NA


DE Germany 107,490 -3.0 0.7 -1.4 1.8 0.3

DK Denmark 7,292 -2.8 8.2 1.1 3.3 1.1

EE Estonia NA 16.7 -2.6 -19.2 NA NA

ES Spain 24,232 -3.4 3.4 7.9 6.2 5.7

FI Finland 6,336 2.8 -0.6 2.7 1.5 1.5

FR France 40,877 -1.2 -0.9 0.3 0.5 1.1


IE Ireland 3,027 0.6 2.1 4.6 5.8 NA

IT Italy 43,877 2.9 1.5 0.5 1.7 1.4

LT Lithuania 92 -30.1 58.0 63.0 -14.6 NA

NL Netherlands 15,300 -2.9 6.6 14.1 14.4 4.9

PL Poland 3,700 0.0 5.9 2.8 0.0 2.7

PT Portugal 990 0.6 16.7 4.0 9.4 5.8

RO Romania 2,433 9.3 47.2 16.1 11.8 0.5

SE Sweden 5,847 -5.9 7.3 9.3 -9.3 0.9

SI Slovenia 110 4.2 -8.2 25.2 -1.2 10.0

UK United Kingdom 28,667 4.3 8.9 -1.2 -1.1 NA


CH Switzerland 8,176 4.2 0.9 -0.6 4.7 -0.2

NO Norway 6,680 0.1 3.2 2.1 1.5 1.7



BE Belgium 14,086 1.3 -3.0 -0.7 5.5 4.2

BG Bulgaria 1,704 -9.2 -1.2 17.1 -10.2 NA

CZ Czech Rep. NA 6.1 NA NA NA NA

DE Germany 68,020 -2.2 -0.6 -1.5 0.7 0.7

DK Denmark 6,573 6.0 8.2 1.5 0.7 4.4

EE Estonia NA 1.1 -4.0 0.1 NA NA

ES Spain 35,410 -4.6 -1.4 4.8 4.7 3.6

FI Finland 8,334 -6.5 -2.3 -0.8 6.0 2.1

FR France 46,107 -2.1 -3.1 -4.4 -0.2 1.8


IE Ireland 3,888 17.7 3.6 9.7 20.4 NA

IT Italy 41,852 -12.6 -6.7 -0.6 0.7 0.6

LT Lithuania 731 15.8 17.3 -5.7 -8.0 NA

NL Netherlands 20,250 -5.3 0.9 0.5 3.3 3.7

PL Poland 19,700 -3.2 9.4 6.1 -5.7 1.5

PT Portugal 2,815 -13.8 -5.7 1.7 -1.7 3.1

RO Romania 5,275 29.6 23.8 1.8 1.4 8.4

SE Sweden 13,488 -2.3 3.6 1.8 5.1 1.3

SI Slovenia 394 -14.9 -10.8 3.2 -8.6 8.0


EU European Union 374,555 -2.6 0.6 -0.1 3.2 1.6

CH Switzerland 18,863 2.2 3.3 0.2 3.3 0.8

NO Norway 16,199 -3.5 3.5 -0.2 1.9 0.5

REHABILITATION & MAINTENANCE RÉHABILITATION & MAINTENANCE RENOVIERUNG & UNTERHALTUNG

NON RESIDENTIAL NON-RÉSIDENTIEL NICHTWOHNBAU

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5. Non-residential buildings

The non-residential segment represented 32.4% of overall con-struction activity. It experienced contrasting trends in 2016. While its private component recorded significant growth of 6.6%, influenced by the overall economic recovery, the public component declined by 5.9%, due to the low level of public investment in many Member States. Overall, the segment increased by 3.2% in 2016 and will further increase in 2017, although at a slower pace (+1.6%). Private investors remain nervous about the still uncertain economic and political climate.

In 2016, this segment performed well as a whole in Belgium (+5.5%), Germany (+0.7%), Finland (+6%, boosted by some large projects) and Ireland (+20.4%), where lots of foreign companies are relocating or expanding their offices, especially in the Dublin area. Other countries experiencing similar trends include Italy (+0.7%), Sweden (+5.1%, mostly driven by commercial build-ings), the Netherlands (+3.3%) and Austria (+2%).

In several other countries, the good performance of the private component counteracted the decrease in the public component. This was the case in Denmark (+0.7%), Spain (+4.7%), where the demand for industrial and office building is growing, Romania (+1.4%), mainly due to logistics, shopping centres and office build-ings. The United Kingdom also did particularly well (+13.3%).

In a third group of Member States, a decline was recorded in the non-residential segment overall, clearly due to a stronger decrease in the public segment component. In particular, this was the case in

5. Construction non-résidentielle

Le segment non-résidentiel représentait 32,4% de l’activité globale de construc-tion. Il a connu des évolutions contras-tées en 2016. Alors que sa compo-sante privée, influencée par la reprise économique globale, a enregistré une croissance significative de 6,6%, la composante publique a diminué de 5,9% à cause des faibles niveaux d’investissement public dans de nom-breux États membres. Globalement, le segment a progressé de 3,2% en 2016 et continuera à croître en 2017, mais à un rythme moins soutenu (+1,6%). Les investisseurs privés restent nerveux face au climat économique et politique toujours incertain.

En 2016, ce segment a dans l’en-semble réalisé de bons résultats en Belgique (+5,5%), en Allemagne (+0,7%), en Finlande (+6%, sou-tenu par quelques gros projets) et en Irlande (+20,4%), où de nombreuses entreprises étrangères délocalisent ou agrandissent leurs bureaux, surtout dans la région de Dublin. D’autres pays connaissant une évolution similaire sont l’Italie (+0,7%), la Suède (+5,1%, surtout stimulée par les immeubles commerciaux), les Pays-Bas (+3,3%) et l’Autriche (+2%).

Dans plusieurs autres pays, la bonne performance de la composante privée a compensé la baisse de la compo-sante publique. Cela a été le cas au Danemark (+0,7%), en Espagne (+4,7%), où la demande pour des immeubles industriels et de bureaux est en pleine progression, en Roumanie (+1,4%), surtout grâce aux installations logistiques, aux centres commerciaux et aux immeubles de bureaux. Le Royaume-Uni s’est aussi particulière-ment distingué (+13,3%).

Dans un troisième groupe d’États membres, le segment non-résidentiel global a enregistré une baisse d’activité qui est clairement due à une diminution plus marquée dans la composante

5. Nichtwohnungsbau

Der Nichtwohnungsbausektor machte 32,4% der gesamten Bauaktivität aus und verzeichnete 2016 mehrere konträre Trends. Während private Investitionen aufgrund der allgemeinen wirtschaftli-chen Erholung ein deutliches Plus von 6,6% verbuchten, gingen die öffentlichen Bauinvestitionen infolge der gene-rellen Einschnitte bei den staatlichen Investitionen in zahlreichen Mitgliedstaaten um 5,9% zurück. Insgesamt lag im Nichtwohnungshochbau das Wachstum 2016 bei 3,2%, und dieser Aufwärtstrend wird sich auch 2017 fortsetzen, wenn-gleich etwas moderater (+1,6%). Private Investoren üben sich weiter in Zurückhaltung aufgrund des immer noch von Unsicherheiten geprägten wirtschaftli-chen und politischen Klimas.

Im Jahr 2016 registrierte das Segment als Ganzes positive Ergebnisse in Belgien (+5,5%), Deutschland (+0,7%), Finnland (+6%, dank einiger Großprojekte) und Irland (+20,4%), wohin zahlreiche ausländische Unternehmen umziehen oder expandieren, vor allem in der Region Dublin. Weitere Länder mit ähnlichen Entwicklungen sind unter anderem Italien (+0,7%), Schweden (+5,1%, vornehmlich durch die Sparte gewerbliche Immobilien), die Niederlande (+3,3%) und Österreich (+2%).

In vielen Ländern konnten die guten Ergebnisse des privaten Bausektors den Abschwung auf öffentlicher Seite ausgleichen, beispielsweise in Dänemark (+0,7%), Spanien (+4,7%), wo insbeson-dere die Nachfrage nach Industrie- und Bürogebäuden wächst, und Rumänien (+1,4%), vornehmlich aufgrund der Nachfrage in den Bereichen Logistik, Einkaufszentren und Bürogebäude. Besonders gute Ergebnisse wurden im Vereinigten Königreich erzielt (+13,3%).

In einer dritten Gruppe von Mitgliedstaaten ist insgesamt ein Abwärtstrend im Nichtwohnungsbau zu beobachten, offensichtlich aufgrund eines stärkeren Rückgangs der staatlichen Aktivitäten.

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Country 2016a 2013 2014 2015 2016a 2017bAT Austria NA NA NA NA NA NA

BE Belgium 9,177 1.3 -3.0 -0.7 5.5 4.2

BG Bulgaria 1,700 -9.2 -1.7 17.6 -10.2 NA


DE Germany 57,020 -2.4 0.1 -1.2 0.4 0.5

DK Denmark 3,384 6.9 12.7 -0.5 1.4 3.5

EE Estonia NA NA NA NA NA NA

ES Spain 29,836 0.1 -0.9 6.8 8.5 6.2

FI Finland 5,916 -6.5 -2.3 -0.8 7.5 2.5

FR France 24,614 -2.0 -2.6 -2.8 0.9 2.9


IE Ireland 2,348 28.8 0.3 17.0 32.7 NA

IT Italy 33,064 -13.4 -7.1 -1.2 0.8 0.3

LT Lithuania 441 13.0 20.7 -0.8 -27.8 NA

NL Netherlands NA NA NA NA NA NA

PL Poland NA NA NA NA NA NA

PT Portugal 1,772 -13.0 -2.0 1.5 1.0 2.0

RO Romania 4,025 29.5 2.6 -1.5 3.7 6.6

SE Sweden 8,519 -2.6 -2.3 3.8 3.4 0.8

SI Slovenia NA NA NA NA NA NA



CH Switzerland 17,810 2.5 1.6 59.7 3.3 0.8

NO Norway 9,349 -5.4 3.1 -4.3 -3.7 -2.3


Country 2016a 2013 2014 2015 2016a 2017bAT Austria NA NA NA NA NA NA

BE Belgium 4,909 1.3 -3.0 -0.7 5.5 4.2

BG Bulgaria 4 -25.0 266.7 -54.5 -20.0 NA

CZ Czech Rep. NA 81.3 NA NA NA NA

DE Germany 11,000 -1.0 -4.1 -3.3 2.4 1.8

DK Denmark 3,189 5.2 3.7 3.6 -0.1 5.4

EE Estonia NA NA NA NA NA NA

ES Spain 5,574 -19.1 -3.6 -3.1 -12.1 -10.1

FI Finland 2,418 -6.5 -2.3 -0.8 2.5 1.0

FR France 21,493 -2.3 -3.7 -6.1 -1.5 0.6


IE Ireland 1,540 7.3 7.3 2.0 5.6 NA

IT Italy 8,788 -9.3 -5.1 1.9 0.4 1.9

LT Lithuania 290 23.5 9.0 -18.8 57.9 NA

NL Netherlands NA NA NA NA NA NA

PL Poland NA NA NA NA NA NA

PT Portugal 1,044 -15.0 -11.0 2.0 -6.0 5.0

RO Romania 1,250 31.2 309.1 13.1 -5.5 14.4

SE Sweden 4,969 -1.6 15.6 -1.5 8.3 2.1

SI Slovenia NA NA NA NA NA NA

UK United Kingdom 11,641 -1.2 3.6 -4.3 -33.7 NA

EU European Union 78,107 -3.8 3.5 -2.3 -5.9 0.9

CH Switzerland 1,053 -0.6 5.8 -86.3 3.3 0.8

NO Norway 6,850 -0.1 4.1 7.0 10.6 4.3

NON RESIDENTIAL PRIVATE NON-RÉSIDENTIEL PRIVÉ NICHTWOHNBAU PRIVAT

NON RESIDENTIAL PUBLIC NON-RÉSIDENTIEL PUBLIC NICHTWOHNBAU ÖFFENTLICH

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Poland (-5.7%), Portugal (-1.7%) and France (-0.2%).

6. Civil engineering

Civil engineering activity recorded a very slight decrease in 2016 (-0.3%) but it is expected to grow again from 2017 (+1.1%). This segment is very much influenced by the overall under-capacity in terms of (long-term) public investment. In a certain number of Member States, there is still signif-icant pressure on public finances from public deficits that are too high according to the rules of the Stability and Growth Pact.

As indicated above, in the medium term, projects financed under the Investment Plan for Europe should increasingly stimulate public and – above all – private invest-ment. However, in the Cohesion countries (i.e. mostly the Eastern European countries), infrastructure projects benefit from a lifeline in the form of European Structural and Investment Funds and this has a major impact on activity.

All in all, civil engineering activity increased in a number of coun-tries. Sweden experienced growth (+4.4%), as did the Netherlands (+1.5%), partly due to relaxed austerity measures, although local authorities still experience financial pressure. Other countries included Italy (+0.4%), partly due to a new strategic fund for infrastructure aimed at of boosting risk prevention and anti-seis-mic measures, Ireland (+9.6%), where a budget of €42 billion has been allocated until 2021 for a special recovery plan and France (+4.5%), due to big infrastruc-ture projects (e.g. “Grand Paris”) and a slight increase of local authorities investment. Finland’s growth (+2%) was due to an ongoing public road maintenance

publique. Ce fut en particulier le cas en Pologne (-5,7%), au Portugal (-1,7%) et en France (-0,2%).

6. Génie civil

L’activité du génie civil a enregistré une très légère baisse en 2016 (-0,3%), mais devrait augmenter à nouveau à partir de 2017 (+1,1%). Ce seg-ment est très fortement influencé par la sous-capacité globale en termes d’investissement public (à long terme). Dans un certain nombre d’États membres, les finances publiques subissent toujours une pression importante à cause des déficits publics qui sont trop élevés selon les règles du pacte de stabilité et de croissance.

Comme expliqué plus haut, à moyen terme, les projets financés dans le cadre du Plan d’investissement pour l’Europe devraient davantage stimuler les investissements publics et, surtout, privés. Toutefois, dans les pays de la cohésion (principalement les pays d’Eu-rope de l’Est), les projets d’infrastruc-ture bénéficient d’une bouée de sauve-tage sous la forme de fonds structurels et d’investissement européens, et cela a un impact majeur sur l’activité.

Globalement, l’activité du génie civil a progressé dans plusieurs pays. La Suède a enregistré une croissance (+4,4%), tout comme les Pays-Bas (+1,5%), en partie à cause de mesures d’austérité allégées, bien que les autorités locales subissent toujours une pression financière. Parmi les autres pays, citons l’Italie (+0,4%), en partie grâce à un nouveau fonds stratégique pour les infrastructures visant à stimuler la prévention des risques et les mesures antisismiques, l’Irlande (+9,6%), où un budget de 42 milliards € a été alloué jusqu’en 2021 pour un plan de redressement spécial, et la France (+4,5%), soutenue par de gros projets d’infrastructure (notamment le « Grand Paris ») et une légère hausse des investissements des autorités locales. La croissance de la Finlande (+2%) s’explique par un programme

Dies war vor allem in Polen (-5,7%), Portugal (-1,7%) und Frankreich (0,2%) der Fall.

6. Tiefbau

Die Tiefbautätigkeit verzeichnete im Jahr 2016 einen geringfügigen Rückgang (-0,3%), für 2017 wird jedoch ein neuerli-ches Wachstum erwartet (+1,1%). Dieses Segment wird stark von der insgesamt ungenügenden Bautätigkeit bei (langfris-tigen) öffentlichen Investitionen beein-flusst. In einigen Mitgliedstaaten steht die öffentliche Hand immer noch stark wegen zu hoher Staatsverschuldung unter Druck, die einen Verstoß gegen die Vorschriften des Stabilitäts- und Wachstumspakts darstellt.

Wie zuvor bereits erwähnt, sollten mittelfristig Projekte, die im Rahmen des Investitionsplans für Europa finanziert werden, staatliche und insbesondere auch private Investitionen zunehmend ankur-beln. In den Beitrittsstaaten (d. h. vor-nehmlich in mittel- und osteuropäischen Ländern) profitieren Infrastrukturprojekte hingegen vorrangig von Kapitalströmen aus den europäischen Struktur- und Investitionsfonds (ESI-Fonds) mit deut-lichen Auswirkungen auf die gesamte Bautätigkeit.

Insgesamt zeigte sich beim Tiefbau in einigen Ländern ein positiver Trend. Schweden verzeichnete ein Plus (+4,4%), ebenso wie die Niederlande (+1,5%), was nicht zuletzt auch auf eine Lockerung der Sparmaßnahmen zurückzuführen ist, obgleich die lokalen Behörden finanziell immer noch unter Druck stehen. Ein positiver Trend zeigte sich auch in Italien (+0,4%) ab (vor allem dank eines neuen Strategiefonds für Infrastruktur, über den Risikoprävention und Erdbebenschutz gefördert werden), in Irland (+9,6%), wo im Kontext eines Sanierungsplans ein Budget in Höhe von 42 Mrd. Euro bis 2021 bewilligt wurde, sowie dank umfangreicher Infrastrukturprojekte (z. B. „Grand Paris“) und eines leichten Anstiegs bei den Investitionen lokaler Behörden auch in Frankreich (+4,5%). Das Wachstum

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Country 2016a 2013 2014 2015 2016a 2017bAT Austria 6,677 -2.4 2.6 -1.2 1.1 0.2

BE Belgium 6,340 -3.3 -1.4 0.8 0.0 0.0

BG Bulgaria 5,146 -5.4 31.6 26.1 -3.7 NA


DE Germany 36,763 -0.7 2.4 -1.2 2.6 2.0

DK Denmark 7,729 5.8 -4.4 5.3 6.3 -4.1

EE Estonia 550 2.6 -10.2 -7.3 -15.7 NA

ES Spain 20,208 -23.0 -4.0 2.5 -5.5 -5.0

FI Finland 8,385 1.0 -1.2 11.9 2.0 1.0

FR France 36,720 3.8 -6.0 -4.6 4.5 1.7

GR Greece 8,023 0.0 -2.7 2.7 0.1 NA

IE Ireland 3,539 -6.7 6.5 3.5 9.6 NA

IT Italy 14,963 -9.3 -5.1 1.9 0.4 1.9

LT Lithuania 794 8.0 10.4 -11.7 -17.9 NA

NL Netherlands 14,775 0.4 3.0 1.0 1.5 1.5

PL Poland 14,900 -9.0 9.9 4.5 -8.0 8.1

PT Portugal 5,040 -14.0 -1.0 1.0 -8.0 2.0

RO Romania 13,355 11.6 -18.2 21.1 -11.6 7.7

SE Sweden 8,802 -3.3 8.3 3.7 4.4 0.7

SI Slovenia 772 5.1 30.4 -9.9 -25.6 5.0

UK United Kingdom 21,208 7.2 -2.4 34.0 -5.7 NA

EU European Union 234,687 -1.8 -1.1 6.1 -0.3 1.1

CH Switzerland 14,004 1.0 2.8 -2.4 5.2 0.4

NO Norway 14,837 7.0 5.3 2.7 10.7 9.2

Thousand units Variation on previous year

Country 2016a (x1000) 2014 (%) 2015 (%) 2016a (%) 2017b (%)AT Austria 271 0.3 -0.5 2.3 0.5BE Belgium 277 -1.7 -0.5 0.9 -0.3BG Bulgaria 175 -0.6 2.8 -4.4 5.7CY Cyprus 26 -14.8 0.4 3.3 NACZ Czech Rep. 404 -2.3 3.4 3.3 3.2DE Germany 2,453 0.3 -0.2 0.9 0.5DK Denmark 180 2.9 3.1 4.1 1.7EE Estonia 46 -1.3 1.4 3.0 NAES Spain 1,077 -3.5 8.1 0.3 2.7FI Finland 190 0.0 -1.3 1.2 2.0FR France 1,781 -1.3 -2.3 -0.4 0.4GR Greece 147 -6.6 -4.3 1.4 2.1HR Croatia 93 NA NA NA NAHU Hungary 318 5.0 4.5 2.7 NAIE Ireland 137 12.6 8.5 8.0 NAIT Italy 1,404 -4.4 -1.1 -4.4 NALT Lithuania 104 0.0 5.7 -1.4 NALU Luxembourg 40 NA NA NA NALV Latvia 64 NA NA NA NAMT Malta 9 NA NA NA NANL Netherlands 455 -3.3 -1.1 -0.4 3.3PL Poland 1,130 -0.9 1.9 -2.2 -7.5PT Portugal 290 -4.4 0.6 3.0 0.1RO Romania 442 4.0 7.9 5.3 5.2SE Sweden 325 0.0 -0.9 5.5 1.8SI Slovenia 54 -0.4 0.6 -0.7 -0.6SK Slovakia 223 NA NA NA NAUK United Kingdom 2,253 3.4 2.2 6.6 NAEU28 European Union 14,368 -0.6 1.1 1.1 NACH Switzerland 348 0.6 0.0 -2.0 0.6NO Norway 205 1.5 3.0 -0.5 1.8TR TR - Turkey 1,987 7.3 0.1 3.8 0.7

CIVIL ENGINEERING GÉNIE CIVIL TIEFBAU

TOTAL EMPLOYMENT IN CONSTRUCTION* EMPLOI TOTAL DANS LA CONSTRUCTION* GESAMTBESCHÄFTIGUNG IM BAUWESEN*

* NACE Section F

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programme, Denmark (+6.3%) had many ongoing large transport and energy projects, Germany (+2.6%) had a big investment plan from the Federal State to renew transport infrastructure in bad shape and Austria grew (+1.1%), mainly due to transport projects.

In Belgium activity remained flat, as well as in Greece (+0.1%), where there was very little opti-mism in the field of private invest-ment in tourism infrastructure.

At the same time the sector declined or stagnated in several countries, mainly because of subdued public investment. In the United Kingdom (-5.7%), investment decreased between 2015 and 2016, but the new rail line from London to the North of England should boost the sector in the next decade. Slovenia (-25.6%) has used up its relevant EU funds and the maintenance rate of existing infrastructure is very low. Romania’s decrease (-11.6%) was mainly due to the slow absorption of EU funds. Portugal (-8%) had very low public investment. Poland (-8%) has many highways and railways that are in the pipeline but they have been delayed due to implementa-tion difficulties over the EU funds. Spain (-5.5%) experienced polit-ical instability and this delayed all decision on infrastructure invest-ment. Bulgaria (-3.7%) expe-rienced a decrease in road and water infrastructure. Estonia and Lithuania also suffered a grave decline (-15.7% and -17.9% respectively).

public d’entretien routier en cours, le Danemark (+6,3%) avait de nombreux projets en cours dans le domaine des transports et de l’énergie, l’Allemagne (+2,6%) a bénéficié d’un important plan d’investissement de l’État fédéral pour renouveler les infrastructures de transport en mauvais état et l’Autriche a connu un regain d’activité (+1,1%) essentiellement grâce à des projets de transport.

En Belgique, l’activité est restée stable, tout comme en Grèce (+0,1%) qui a fait preuve d’un optimisme très modéré dans le domaine des investis-sements privés dans les infrastructures touristiques.

En même temps, le secteur a connu un déclin ou une stagnation dans plu-sieurs pays, surtout à cause de faibles investissements publics. Au Royaume-Uni (-5,7%), les investissements ont diminué entre 2015 et 2016, mais la nouvelle ligne ferroviaire reliant Londres et le Nord de l’Angleterre devrait permettre de relancer le secteur pour la décennie à venir. La Slovénie (-25,6%) a utilisé tous ses fonds européens et le taux de maintenance des infrastructures existantes est très faible. Le déclin de la Roumanie (-11,6%) est principa-lement dû à la faible absorption des fonds européens. Le Portugal (-8%) a enregistré des investissements publics très faibles. En Pologne (-8%), de nombreux projets d’autoroutes et de lignes ferroviaires sont en préparation, mais ils ont été reportés à cause de difficultés de mise en œuvre liées aux fonds européens. L’Espagne (-5,5%) a connu de l’instabilité politique, ce qui a retardé toutes les décisions sur les investissements en infrastructures. La Bulgarie (-3,7%) a enregistré une baisse dans les infrastructures routières et d’approvisionnement en eau. L’Estonie et la Lituanie ont aussi connu un déclin important de l’activité (-15,7% et -17,9%).

in Finnland (+2%) war auf ein noch andauerndes Instandhaltungsprogramm für öffentliche Straßen zurückzuführen, in Dänemark (+6,3%) dauerten zahlreiche große Transport- und Energieprojekte noch an, in Deutschland (+2,6%) gab es auf Bundesebene Maßnahmen zur Erneuerung der teilweise schlechten Transportinfrastruktur, und in Österreich (+1,1%) profitierte das Tiefbausegment insbesondere von Verkehrsprojekten.

In Belgien blieb die Marktlage unverändert, ebenso wie in Griechenland (+0,1%), wo die privaten Investoren nach wie vor große Zurückhaltung bei Investitionen in die Tourismusinfrastruktur zeigen.

Parallel hierzu verzeichnete das Segment in vielen Ländern stagnierende oder rückläufige Zahlen, vor allem aufgrund geringer staatlicher Investitionen. Im Vereinigten Königreich (-5,7%) gingen die Investitionen zwischen 2015 und 2016 zurück, aber die neue Eisenbahntrasse zwischen London und Nordengland dürfte dem Sektor in den nächsten zehn Jahren einen deutlichen Aufschwung bescheren. Slowenien (-25,6%) hat seine sektorbezogenenm Mittel aus EU-Fonds verbraucht und die Instandhaltungsrate bei der bestehenden Infrastruktur ist extrem niedrig. Der Abwärtstrend in Rumänien (-11,6%) ist primär der sehr langsamen Umsetzung der verfügbaren EU-Mittel geschuldet. In Portugal (-8%) gab es sehr wenige staatliche Investitionen im Tiefbausektor. Polen (-8%) plant zahlreiche Arbeiten an Autobahnen und Eisenbahnstrecken, die aber aufgrund von Schwierigkeiten beim Abruf von EU-Mitteln aufgeschoben wurden. Spanien (-5,5%) hat eine Phase politi-scher Instabilität durchlebt und vor diesem Hintergrund sämtliche Entscheidungen zu Infrastrukturinvestitionen vorerst zurück-gestellt. Bulgarien (-3,7%) verbuchte ein klares Minus bei Investitionen in die Instandhaltung von Straßen- und Wasserinfrastruktur. Estland und Litauen verzeichneten ebenfalls eine stark rückläu-fige Entwicklung (-15,7% bzw. -17,9%).

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EUROPEAN UNION

Companies from… (In million €)

International Total 15,233 6,542 588 1,279 37,199 26,645 7,042 11,991 14,182 5,224 16,445 15,542 21,994 179,906

without Europe 1,123 4,150 53 0 16,739 23,673 5,983 8,188 5,222 4,491 11,619 6,133 17,501 104,875

without Europe and North America

1,048 4,149 53 0 11,416 12,680 5,962 7,552 4,260 4,491 7,303 0 17,397 76,311

without Europe, North America and Australia

1,041 4,033 53 0 10,262 1,803 5,6504 7,398 3,598 4,491 6,901 0 17,393 56,973

Regional Total

Europe 14,110 2,392 535 1,279 20,460 2,972 1,059 3,803 8,960 733 4,826 9,409 4,493 75,031

North America (USA and Canada)

75 1 0 0 5,323 10,993 21 636 962 0 4,316 6,133 104 28,564

America (Central and South)

235 657 15 0 1,601 510 132 2,853 707 1,348 4,784 0 0 12,842

Oceania/Australia 7 116 0 0 1,154 10,877 624

154 662 0 402 0 4 24,073 Asia

(Without Middle East)92 643 8 0 3,334 309 291 714 0 344 0 4,338

Africa (Without Middle East)

120 1,066 28 0 4,012 462 740 2,423 552 3,131 590 0 2,150 15,274

Middle East 1 594 1,667 2 0 1,315 522 4,466 1,831 1,625 12 1,183 0 10,905 24,122

VOLUME OF INTERNATIONAL TURNOVER 2015

1) Afghanistan, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi-Arabia, Syria, United Arab Emirates and Yemen (North and South) 2) Source: ENR; The Top 225 International Contractors 2015, published on August 26, 2015 - Currency rate: 1 EUR = 1.11 US$; Official rate for 2015 of the European Central

Bank 3) EIC’s own research 4) As figures for the U.K. cannot be split between Australia and Asia, the total figure is an approximate value. Source: EIC - European International Contractors

Austri

a

Belgium

Denm

ark

Finlan

d

Fran

ce

Germ

any

Great

Britain

2

Italy

Nether

lands

Portu

gal

Spain

Sweden

3

Turk

ey

Total

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For the period 2017 to 2019, the overall economic outlook is positive even if growth will be at a rate of only 1.5% on average, and thus not exceed 2%. Private consumption and the export sector will stabilize the overall meagre economic performance whereas public consumption is expected to decline considerably from 2.1% in 2015 to0.7% in 2019.

One of the reasons for this spending decrease is the debt cap (“Schuldenbremse”) which will come into force in 2017. But also investments are expected to decline since the market volume is not likely to expand significantly. For 2016 WIFO estimates an increase of 60,000 persons and in 2017 a further 58,000 persons are expected. The unemployment rate (Eurostat definition) is expected to reach 6.0% in 2016 and will gradually increase to 6.2% until 2019.

Total construction output declined in 2015 at a rate of -0.6%, instead of the minor forecasted growth. With a one year delay, construction growth is likely to become a reality at a rate of 1.6% in 2016. The main drivers will be non-residential and housing construction. Total construction is expected to become rather stable in the upcoming years 2017 to 2019 with an annual average real growth rate of about 1.5% per annum. In the construction sector, employment will increase slightly in 2017. As a result of the growing supply of employees, unemployment will fall, but only slightly.

2. Housebuilding

Residential construction in 2015 performed better than forecasted with a growth rate of about 0.1%, despite the downward revision of the total construction sector. In 2016 a more substantial growth is expected for a number of reasons.

The demand for flats remains at a very high levels in urban areas. This is fueled by demographic development and future projections, stimulating the housing market in dense areas. On top of that, increasing house prices in combination with low interest rates are pushing private investment in residential housing, which was rather modest compared to other European countries in the past. Additional dynamics are expected from new public initiatives – the major parts stem from the so called “housing offensive (Wohnbauoffensive)” which aims to halt real estate prices by expanding the housing supply. This is expected to stimulate the residential construction market particularly in 2017 and 2018 with projected overall growth rates of 1.6% annually. The market is expected to grow at a somewhat more modest pace from 2018 onwards.


Similar to the overall economy, the recovery in non-residential construction is expected to have finally taken hold in 2016, with a significant increase of about 2%. Growth will mainly stem from the industry sector which was very cautious in previous years, but also office and commercial construction are expected to have increased in 2016. Only public investments lagged behind in 2016. The overall outlook for total non-residential construction will be stable until 2019 with an annual average growth of about 1.5% with the best perspectives in industrial and commercial construction.


Accordingly, total civil engineering shrank slightly worse than previously anticipated in 2015 (-1.2%). An output expansion of +1.1% is expected in 2016 which stems from stronger investments in transport infrastructure. The recently published public roadmap for the road and rail network suggests a stable growth path until 2019, indicating stronger growth in 2018. In the presence of tight public budgets the allocated funds are quite considerable. In general, railway investments are still prioritized in comparison to road construction. Also construction in telecommunications will expand significantly.

This sector benefits from strong public subsidies. On the other hand, water works are expected to perform poorly until 2019. The current performance of the energy sector is unfavorable but in contrast to water works it is likely to pick up slightly as a result of course the expected increase in energy prices, which make investments more profitable.

AUSTRIA

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INVESTMENT IN CONSTRUCTION

Housebuilding Non residential Civil Engineering Total Construction

2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

PER CENT VARIATION OF PRODUCTION IN REAL TERMS OF PREVIOUS YEAR

production Mln. €

fixed prices variation of production on previous year (%)

Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 27,733 -0.5 -0.7 -0.5 1.7 1.7

1.1. Housebuilding 15,977 -0.1 -0.6 0.1 1.5 1.6

1.1.1. New 11,007 0.1 -0.8 0.0 1.6 1.8

1.1.2. R&M 4,970 -0.4 -0.2 0.3 1.4 1.0

1.2. Non residential (c) 11,756 -1.1 -0.9 -1.2 2.0 1.9

1.2.1. Private NA NA NA NA NA NA

1.2.2. Public NA NA NA NA NA NA

2. Civil Engineering 6,677 -2.4 2.6 -1.2 1.1 0.2

(1 + 2) Total Construction 34,410 -0.9 -0.1 -0.6 1.6 1.4

a: estimate - b: forecast - c: incl. R&M

NUMBER OF BUILDING PERMITS IN RESIDENTIAL CONSTRUCTION

2013 2014 2015 2016a 2017b

single dwelling 15,800 16,800 17,500 18,300 18,500

collective dwelling 30,500 30,900 32,800 37,000 38,500

other types of dwelling NA NA NA NA NA

Total 46,300 47,700 50,300 55,300 57,000

(Collective dwellings and other types of buildings: in number of flats)

105

100

95

90

85

80

75

AUSTRIA

75

80

85

90

95

100

105

€ 350

BILLION 8,585,000

GDP 2016

POPULATION 2016

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Initial estimates from the National Accounts Institute indicate that the construction sector’s performance (+3.7%) was far better than average for the Belgian economy (+1.2%) in 2016. In this context, the steady drop in salaried construction sector employment subject to Belgian social security, which had been uninterrupted since 2012, was (momentarily) halted and the number of employees working in these jobs stabilised in 2016. Nevertheless, at the same time, 2016 once again saw a sharp increase in the number of posting declarations made for foreign workers coming to Belgium for construction assignments.

Experts predict economic growth in 2017, which, although weak (+1.4%), may bring about another fall in unemployment figures (following a net decrease in unemployment in 2016) and prompt companies to invest more. Against this backdrop, the construction sector as a whole can be expected to continue growing in 2017, but, in principle, not as much as in 2016. If nothing changes in terms of the factors causing the rapid decline of employment in the Belgian construction sector, the number of salaried jobs in the sector is likely to fall once more (-1%).

2. Housebuilding

Activities related to the construction of new homes grew by around 5% on the back of a surge in planning permission applications in Flanders in the last months of 2015. This temporary upswing was caused by contractors seeking to get around the new energy requirements that apply to applications submitted in Flanders from 1 January 2016. In view of the time required to process these applications, the result was an increase in the number of new homes receiving planning permission in the first months of 2016.

Since there was no such phenomenon in late 2016 and early 2017, the number of new homes receiving planning permission can be expected to fall in 2017. However, given that the unemployment situation is expected to improve, or that households’ level of disposable income is expected to rise, it seems likely that the decrease will be limited to ±5%. With this in mind, and considering both the time required to begin and complete construction projects and a certain moderation of the effects of demand fluctuations on production, the production of new homes can be expected to rise slightly in 2017 (+1%). As in 2016, this will be the result of developments in Flanders.


Construction of new, non-residential buildings increased in 2016 (by around 6.5%). This is partly due to a fairly substantial rise, in 2015, in the volume of work relating to buildings that had been granted planning permission but were still to be built. The growth in activity was also linked to the intensification of the Scholen voor morgen1 project, which is now almost complete.

Despite the expected decrease in the volume of activity generated by the Scholen voor morgen project, construction of new non-residential buildings could potentially continue to increase in 2017 (+4%) thanks to the general economic situation, which is characterised, among other things, by an upswing in investments. However, it is very unclear how non-residential construction will develop because the granting of planning permission for non-residential buildings is extremely volatile: for some years now, there have been variations of 20 to 30% in the number of permits granted from one half of a year to the next. Such developments are, of course, completely unrelated to changes in the general economic situation and are therefore completely unpredictable.


Various consistent data seem to suggest that, across all types of activities, civil engineering managed to avoid declining in 2016.

In principle, civil engineering activities can be expected to grow by around 3% in 2017 as a result of the approaching municipal elections, since local authorities generally invest more ahead of such elections. Consequently, an increase in civil engineering activities can only be expected in activity segments that are associated with local authorities – mainly local roads.

1 A public-private partnership project for the construction of 165 schools in the Flemish Region, mainly in 2015 and 2016.

BELGIUM

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 422

BILLION 11,306,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 31,695 -0.3 1.7 1.8 4.4 2.7

1.1. Housebuilding 17,609 -1.8 6.0 3.9 3.5 1.4

1.1.1. New 7,492 -1.6 10.0 3.4 5.0 0.9

1.1.2. R&M 10,118 -1.9 3.3 4.3 2.5 1.8

1.2. Non residential (c) 14,086 1.3 -3.0 -0.7 5.5 4.2

1.2.1. Private 9,177 1.3 -3.0 -0.7 5.5 4.2

1.2.2. Public 4,909 1.3 -3.0 -0.7 5.5 4.2

2. Civil Engineering 6,340 -3.3 -1.4 0.8 0.0 0.0

(1 + 2) Total Construction 38,035 -0.9 1.2 1.6 3.6 2.2



2013 2014 2015 2016a 2017b

single dwelling 20,725 21,649 18,552 19,388 18,565


other types of dwelling 340 628 614 217 159

Total 49,141 54,903 46,246 50,445 48,171


BELGIUM

120

115

110

105

100

95

9090

95

100

105

110

115

120

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In 2016, the construction industry was characterised by slow dynamics and a return to a negative balance. A year ago the construction industry registered growth close to the volumes achieved before the crisis. Indeed, at the end of the programme period 2007-2013 the construction industry made significant progress. In 2016, the transition to the new programme period for European projects and the new general economic framework are the main reasons for the reported low levels of activity and decreasing achievements compared to 2015. The projects financed by the European Structural and Investment Funds remain the driving force for progress in the construction industry.

Preliminary data show that the contribution of the construction industry amounted to 3.7% of Gross Added Value for the whole economy in 2016. Compared to 2015, the Foreign Direct Investments in the construction industry for 2016 registered growth of 25.9%, a positive trend in view of the negative data from the past 4 years. However, despite the growth in investment, the projects that attracted investors still did not reach the required levels. A change in policy aimed at attracting investment is necessary.

The number of calls for tenders in 2016 was 2811, with an overall value of €2 billion. Compared to the previous year, they decreased in number (-2.9%) and slightly increased in value (+2.4%). There were 2,991 public contracts awarded with a total value of €1.2 billion. This shows a trend of more contracts in number but with a smaller value.

As at February 2017, 4,823 companies are registered in the Central Professional Register of Builders of the Bulgarian Construction Chamber (BCC). 4,775 of them are registered Bulgarian legal persons and 48 foreign companies. The construction industry in 2016 consisted of 86.7% small companies, 11.5% middle size companies, and 1.8% large companies.

Preliminary data show that the production of the construction industry in 2016 was €553 million, which is a significant decrease of 37% compared to the pre-crisis period. The building segment – which represents 53% of total construction activity – registered a significant decrease of 32.8%, and its production was €3 billion. Expectations for 2017 are that the construction industry will develop more projects in the area of energy production and energy efficiency. This is the future opportunity for the development of the sector.

The number of employees in the sector represent 5.1% of the total number of employed people in the economy of the country. This proportion remained unchanged from the previous year. The analysis shows an ageing workforce in the construction industry on the one hand and, a lack of interest on the part of the younger generation, in the builder’s profession. In 2016, unemployed people in the construction industry represented 11.4% of the total number of unemployed people in the country. In the construction industry, the number of newly registered unemployed in 2016 was stable compared to previous years.

BCC advocates for the following measures to be taken in order to accelerate the recovery process: the Government needs to prepare and develop a pipeline of projects, to better plan public investment in advance, namely in the green economy, to better organise public procurement, and to promote more SMEs. The challenge of the construction industry is to find the right mechanisms for accelerating the contracting process in view of construction projects with European financing.

2. Housebuilding

Preliminary data for 2016 show that the share of residential construction in the sector amounts to only 10.7%. A significant decrease of 32.4% was observed, compared to the pre-crisis period. In 2016, the permits issued for residence buildings registered growth of 4.7%. The starts of residential buildings in 2016 registered annual growth of 8.6%. Also, a stabilisation of house prices was observed. However, buyers still remain cautious, although the real estate market experienced a renaissance. As a whole, residential construction continues to show growth and, compared to 2015, registered an increase of 15.3% in 2016. Indicators (e.g. starts and orders) show signs of revival in this segment. The main priorities are to improve energy efficiency, optimise, renovate and modernise existing buildings. This is the “European Strategy 2020” with different ways of co-financing.

After record-low levels in construction volumes during the crisis, the positive results of builders during H2 2016, give hope for further dynamic changes in residential construction in 2017.


According to preliminary data, the non-residential segment represents 23.4% of total construction activity. The total number of building permits issued in 2016 showed an increase of 5.8%, compared to 2015. Permits issued for administrative (office) buildings registered growth of 3.8%. For other types of building, growth was 6.9%, compared to the previous year. However, the construction of new administrative (office) buildings showed a decrease of 1.1%.


Preliminary data show that civil engineering represents 47% of the overall construction production. Civil engineering production amounted to €2.7 billion in 2016. It decreased by 41.1% compared to the pre-crisis levels. In particular, road and water infrastructure projects registered negative values for 2016.

The reason is the beginning of the new programme period 2014-2020 and the initial negotiations and contracting of European projects. As a whole, civil engineering projects depend fully on the State budget, local structural funds and EU funds. This sector has special significance for the development of the construction industry and the economy as a whole.

The situation is expected to improve by the middle of 2018.

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 47

BILLION 7,154,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 2,481 -7.7 -0.9 13.2 -10.2 NA

1.1. Housebuilding 735 -4.3 -0.4 5.6 -14.9 NA

1.1.1. New 588 -5.9 -2.5 4.9 -16.5 NA

1.1.2. R&M 147 4.7 10.5 8.8 -8.1 NA

1.2. Non residential (c) 1,704 -9.2 -1.2 17.1 -10.2 NA

1.2.1. Private 1,700 -9.2 -1.7 17.6 -10.2 NA

1.2.2. Public 4 -25.0 266.7 -54.5 -20.0 NA

2. Civil Engineering 5,146 -5.4 31.6 26.1 -3.7 NA

(1 + 2) Total Construction 7,627 -6.4 17.5 21.4 -5.9 NA



2013 2014 2015 2016a 2017b

single dwelling 4,120 4,245 4,310 4,514 4,600

collective dwelling NA NA NA NA NA

other types of dwelling 4,830 4,510 4,539 4,848 4,900

Total 8,950 8,755 8,849 9,362 9,500


BULGARIA

240

220

200

180

160

140

120

100

80

60

40

2020

40

60

80

100

120

140

160

180

200

220

240

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According to the national statistical service (CYSTAT) the GDP growth rate in real terms during Q3 2016 was positive and estimated at 2.9% higher than Q3 2015. Based on seasonally and working day adjusted data, GDP growth rate in real terms remains at +2.9%.

During the period January–October 2016, 4,350 building permits were issued compared to 4,160 in the corresponding period of the previous year. The total value of these permits (€914.352 million) increased by 8.1% and the total area (833,429 m²) by 11.7% - compared to the corresponding period of 2015. The number of dwelling units amounted to 2,911, recording an increase of 7.7% - compared to the corresponding period of 2015.

The Output Prices Index in construction for Q3 2016 reached 94.8 units, which represents an increase of 1.2% compared to Q3 2015. By type of project, an increase of 1.2% was observed for buildings and a decrease of 2.7% for civil engineering projects (index: 100.5) in Q3 2016, compared to Q3 2015 (index: 108.5).

The labour force in Q3 2016 amounted to 427,489 persons or 62.7% of the population, in comparison to 421,813 persons (61.9%) and 420,317 persons (62.7%) in Q2 of 2016 and in Q3 of 2015 respectively. The number of employed persons was 371,916 and the employment rate 54.5%, in comparison to 370,743 persons (54.4%) and 358,178 persons (53.5%) in Q2 of 2016 and in Q3 of 2015 respectively.

The number of unemployed persons amounted to 55,573 and the unemployment rate to 13% of the labour force. In Q2 2016, the rate was 12.1% or 51,070 persons and in the Q3 2015, 14.8% or 62,139 persons.

2. Housebuilding

2,948 building permits for residential buildings were issued during the period January–October 2016 - compared to 2,807 issued during the same period of 2015 - providing for the construction of 2,911 dwelling units. The number of these dwelling units represents an increase of 17.6% compared to 2,397 in the same period of 2015.

The number of building permits authorized by the municipal authorities and the district administration offices in September 2016 stood at 467, recording an increase of 12.8% compared to September 2015 (407).The total value of these permits rose 26.6% to €99.4 million, while their total area rose 25.3% to 86.900 m². A drop of 3.9% has been recorded during October 2016, as the number of these permits stood at 449 compared with the 467 authorized in October 2015. However, compared with October 2015, their total value rose 118.7% to 179.1 million, while their total area rose to 70.8% to 179.1 m².


During the period January–October 2016, 815 building permits were issued for non-residential buildings, recording a decrease of 1.4% compared to 827 in the same period of 2015. The total area of these buildings was 166.314 m² and the total value €185.264 million. These included building permits providing for the construction of 212 hotels and similar buildings, 68 office buildings, 98 industrial buildings and warehouses, 124 public entertainment buildings and buildings used for recreational, educational or medical purposes, 69 wholesale and retail trade buildings and 241 other non-residential buildings - respectively compared to 177, 60, 108, 131, 62, 286 in the same period of 2015.


The number of building permits issued for civil engineering projects during the period January–October 2016 stood at 162.The total area of these projects represented 4,864 m², recording a decrease of 46.8% compared to 9,145 m² in the same period of 2015. Their total value was €16,141 million, recording a decrease of 72% compared to €57,613 million in the same period of 2015.

In the same period, 80 building permits were issued providing for the execution of road construction projects in addition to the above civil engineering projects, in comparison to 61 building permits issued during the corresponding period of 2015. The total value of these projects, reached €6,501 million recording an increase of 24.4% compared to €4,915 million in the same period of 2015.

184 building permits were issued for big projects (each with an area greater than 900 m²) recording a decrease of 1% compared to 186 in the same period of 2015. The total area of these projects represented 377,085 m², recording an increase of 13.4% compared to 326,808 m² in the same period of 2015. Their total value was €416,755 million, recording an increase of 1.5% compared to €410,235 million in the same period of 2015.

4,166 building permits were issued for small projects (including 1,856 dwelling units) recording an increase of 4.6%, compared with 3,974 in the corresponding period of 2015. The total area of these projects represented 456,344m², recording an increase of 10.4% compared to 408,439 m² in the same period of 2015.Their total value amounted to €497,597 million recording an increase of 8.8% compared to €435,786 million in the same period of 2015.

CYPRUS

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€ 18

BILLION 845,000

GDP 2016

POPULATION 2016


2013 2014 2015 2016a 2017b

single dwelling 2,019 1,599 1,635 NA NA

collective dwelling 1,941 1,184 1,454 NA NA

other types of dwelling 181 72 108 NA NA

Total 4,141 2,855 3,197 NA NA

(Collective dwellings and other types of buildings: in number of flats).

CYPRUS

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The current positive situation in the economy is being supported by temporary short-term factors like investments from EU funds, new 10% lower VAT rate and other relevant taxation conditions, the rise of salaries, low price of oil, etc.

There will be a moderate growth of GDP during the period 2017-2019, driven by industry production, investment activity of new companies and the better situation on the employment market. Economic policy is more stable, allowing investors to expand their investment activities.

2014 was a crucial year for the construction market. After 5 years of continuing decline, all construction segments recorded growth again. However, non-residential and civil engineering markets still suffered from a lack of public investment in 2015 and especially in 2016.

The previous economic recession was caused mainly by the sharp decline in domestic demand, which will not rise significantly until the situation on the labour market is improved in the long term. However, the employment market already improved a lot. The current unemployment rate is very low (4.1%) and should dip below 4% in 2019. There is currently the highest employment rate since 1993. Unemployment is below the European average, which is over 10%.

2. Housebuilding

The rising confidence in the stability of the economy together with high demand for new flats and very cheap mortgages are the main positive factors for the progress in the residential market. Real estate has revived and there is much higher demand compared to supply, especially in big cities. This is resulting in relatively high dwelling purchase prices. One of the causes of the slow and insufficient increase of housing construction is still length of time necessary to acquire a building permit. The rise in residential output is being pushed by stable growth in the new family home market.

On the other hand, there was a kind of overheating in the multi-dwelling segment in 2014 and 2015, so that 2016 saw a decrease in this segment. The main reason was the lack of available land for construction, which is connected to problems with planning in big cities. The multi-dwelling segment will recover after 2017 and will start to catch up the volume it lost during the economic recession.

The number of dwellings under construction is growing along with the performance of construction firms. This is also the case in the family homes segment. In particular, there is strong growth in family houses in smaller cities and villages surrounding bigger towns, where there is less pressure on land.


Last year, the non-residential market decreased (-1.8%). There was a significant drop in 2016 (-11.1%) and there will be again in 2017 (-6.9%). More positive development is expected in 2018 and 2019 when this sector will revive. A slight upturn in all segments is expected

Of all construction types, non-residential production coped the best with the economic recession.. The non-residential market is characterised by a mix of public and private investments. The output of some specific building types is therefore highly influenced by subsidies flowing from EU funds and governmental support.

In the period 2016 to 2018, non-residential construction will suffer due to a lack of public investment. Private investments are much more stable but they will not grow fast in the forecasted period. Thus previous predictions about the revival of storage, industrial and commercial buildings had to be revised downwards.


The civil engineering sector suffered mainly from the suspension and revision of many transport projects in 2010, together with a big reduction in new projects. Only in 2013 did the volume of new orders start to grow again. 2014 and 2015 were very favourable for the civil engineering market and – after three years of almost 10% average annual decline – finally recorded growth.

In particular, 2015 was the last year for drawing European funds, because the operational program Transport was coming to an end. The focus was on drawing as much as possible from the closing EU funding program period. But the underestimated preparation of the new program period resulted in decreasing public investment. This has been the main reason why the civil engineering output will fall by 13.9% in 2016.

The civil engineering market is highly dependent on public contracts. Corruption scandals connected with public construction contracts were the cause for a tightening up of public procurement law.

A very good sign for the future is that there was a record number of public calls for tenders for design works at the end of 2016 and beginning of 2017. However, the average time until the real start of a new construction project is about 5 years after the beginning of the design phase. Therefore, there will be no immediate effect on civil engineering output.

CZECH REPUBLIC

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 171

BILLION 10,554,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building NA -6.0 NA NA NA NA

1.1. Housebuilding NA -32.7 NA NA NA NA

1.1.1. New NA -12.5 NA NA NA NA

1.1.2. R&M NA -18.4 NA NA NA NA

1.2. Non residential (c) NA 6.1 NA NA NA NA

1.2.1. Private NA -28.1 NA NA NA NA

1.2.2. Public NA 81.3 NA NA NA NA

2. Civil Engineering NA -18.3 NA NA NA NA

(1 + 2) Total Construction NA -11.5 -3.3 7.2 NA NA



2013 2014 2015 2016a 2017b

single dwelling 18,300 15,800 10,541 11,121 10,921



Total 29,500 28,100 28,286 29,842 29,304


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Preliminary figures for 2016 show a substantial growth of total construction investment in real terms of 3.1%, reaching a volume of €309 billion. The growth was to a large extent based on the development in residential construction where the surplus was 4.3%. Nevertheless, non-residential building (0.7%) as well as civil engineering (2.6%) had sufficient growth. Parallel to the surplus in production, employment in construction (2.4 million) grew by 0.8%.

Expectations for total construction investment in 2017 are as positive as last year. The economic research institutes predict a real growth rate for GDP of 1.4%. Construction federations expect total construction investment to grow once again at a higher rate of 2% in real terms. The volume at current prices is expected to reach a level of €320 billion for the first time ever. The share of GDP, contributed by construction activity, will be stable at about 10%.

New orders for the construction industry in 2016 amounted to more than €58 billion (+4%), the highest volume since 2000. The value of building permits (excluding civil engineering) was €82 billion (+18%).

2. Housebuilding

This segment clearly dominates with an actual share of 61% of total construction investment, with two thirds of the investment going into the existing housing stock and one third into new residential construction. The latter will be once again the driving sector in 2017, as it has been since 2010. Historically low mortgage rates, a labour force which is still growing, combined with rising disposable incomes of private households and the sharply rising demand in urban areas for rented flats reinforce this development. Demand is being boosted both by migration within Germany as well as by the number of refugees, which remains high.

In 2017 the subsectors will show different developments. Only a slight growth is expected for single family houses, while high and ever rising prices for developed properties are having a braking effect. On the other hand, flats in multi-family houses will push the market once again. Demand in urban areas is still high. Efforts – making use of serial construction technologies – will concentrate on reducing the costs of investment into residential buildings to enable lower rents.

Demand for new flats or houses is expected to be in the range of 350,000 to 400,000 for the period until 2020. With 280,000 completions in 2016 and about 320,000 this year, the demand will clearly not be fulfilled. Therefore the government has reacted to improve the framework for the market.

Government payments to the Federal States for social housing programmes have been doubled to €1 billion in 2016. Another increase to €1.5 billion has been made for 2017. With federal

elections taking place in September 2017, higher depreciation allowances for the construction of new rental flats in areas with a high demand and limited construction costs are still under discussion.

Based on the high and growing demand, prospects for the medium term future in new residential construction are positive. Parallel to that, efforts to upgrade the existing housing stock to meet demands for energy efficiency will grow slowly but steadily. Legal guidelines were once again tightened at the beginning of 2016.


The share of non-residential buildings in total construction investment was about 24% in 2016, the sub-sector itself largely dominated by private investors. Although the predictions for real GDP growth, of 1.4% in 2017, are still positive, private investors might remain hesitant with regards to external risks (oil prices, economic development in China, ongoing turbulence in the Euro-zone, Brexit, trade policy of the new US President Donald Trump).

For some years, investment has been directed at new machinery and equipment rather than new industrial buildings. This has caused bottlenecks in many production lines, to which investors are now reacting. Building permits (estimated construction costs) for private investors increased by nearly 20% in 2016. New orders for the construction industry in this sub-sector showed a rise of about 14% last year.

Permits for public investors rose by about 28% in 2016, following a smaller growth of 8% the year before. The outlook for 2017 is positive. Orders in 2016 were up by 10%. Large sums will be spent at the local level on all kinds of buildings to house and educate refugees. The volume of a fund, launched by the federal government in 2015 to initiate local investment, has been doubled to €7 billion. This will have a very stimulative effect not only in 2017 but also the following years.


In 2016, the sector represented 15% of total construction output, compared to more than 20% in most other European countries. After a rise in real terms of 2.6% last year, another substantial growth of 2% is expected for 2017. New orders for civil engineering were up by 15% last year, 6% for commercial and 20% for public investors.

The federal government launched two investment programmes in recent years. The investment into highways, waterways and the railway system was increased by €1.5 billion or 14% in 2016. 2017 will see another surplus of about €500 million. The combined budget for these infrastructure works is €12.6 billion in 2017, which is equivalent for one third of all civil engineering production. The government plans to raise its spending to nearly €14 billion in 2018.

GERMANY

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‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 3,134

BILLION 82,501,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 231,801 -1.2 1.8 0.5 3.2 2.0

1.1. Housebuilding 163,784 -0.8 3.0 1.5 4.3 2.6

1.1.1. New 56,290 5.1 8.5 7.9 9.2 6.9

1.1.2. R&M 107,490 -3.0 0.7 -1.4 1.8 0.3


1.2.1. Private 57,020 -2.4 0.1 -1.2 0.4 0.5

1.2.2. Public 11,000 -1.0 -4.1 -3.3 2.4 1.8

2. Civil Engineering 36,763 -0.7 2.4 -1.2 2.6 2.0




2013 2014 2015 2016a 2017b

single dwelling 110,284 107,337 116,020 119,500 110,000



Total 272,433 285,079 313,296 372,500 380,000


130

125

120

115

110

105

100

95

90

GERMANY

90

95

100

105

110

115

120

125

130

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The economy is in a phase of a stable recovery. The growth is driven by an improvement in the private sector employment and in the housing market, resulting in a real growth in private consumption at around 2% per year.

The 2016 inflation was 0.3% - the lowest level for more than 60 years - which led to improving real wages. The interest rates remain very low. The public debt is relatively low, at 40% of GDP, and the budget deficit fluctuates in the region of -0.8% to -1.3% of GDP. Thus the public sector balance is well inside the 3% limit of the Stability and Growth Pact of EU, and is not the binding constraint of the fiscal policy.

The real GDP growth is forecasted to rise to 1.6% in 2017 and 1.9% in 2018.

As a consequence, the political focus has shifted from the stimuli packages of the early post-crisis years to structural reforms addressing the risks of bottle necks in the labour market.

Zooming in on the construction industry, the employment has risen significantly by 12% from 2013 to 2016. New construction of dwellings rose, and activity of civil works went up, too. Maintenance works were stimulated by the growth in the housing market as well as by political measures: rehabilitation works of dwellings in the social housing sector with public grants, and a tax deduction scheme, allowing deduction in tax for some of the labour costs associated with repair and maintenance work of private owned houses/flats.

The Danish Construction Association expects the construction employment to rise further in 2017 and 2018 by 2% respectively 3%.

The construction companies, reporting constraints on production due to labour shortage has risen to 20-25% during 2016. And this is - combined with issues of productivity - expected to be the main challenge in the construction sector in 2017 and 2018, although the yearly wage growth at 2-2.5% is still fairly moderate, partly due to the historically low inflation and partly due to the competition from foreign and posted workers.

2. Housebuilding

The large drop in interest rates has led to strong house-price increases in the major urban areas. Prices on owner-occupied apartments are rising more than prices on single-family houses.

The development in the housing market is positive with increasing prices in most parts of the country. This reflects improvement in the economic situation of many families as a result of rising employment, income growth and the low level

of interest rates. For the forecast horizon, further increases in housing prices are expected, albeit at a more muted pace than in 2015-16. The future level of housing taxation (from 2020 and onwards) is being negotiated politically in the spring of 2017, and this can potentially lead to some unintended stop-and-go-activity in the market.

The residential construction is rising significantly. The total building starts of dwellings rose from 16.000 in 2015 to 20.500 in 2016, and are expected to rise furthermore to around 23.000 dwellings in 2017.

The activity of rehabilitation and maintenance works is less volatile. The employment within this branch of the industry has risen at around 1% a year in 2015 and 2016, and is expected to rise at the same speed in 2017 and 2018.


The business investments in non-residential buildings were reduced to a historically low level during the financial crisis in 2009-2013, and has only picked up rather slowly since then.

However, due to the low initial level of private investments, we expect a decent annual growth rate of around 5% of the production value of new business buildings in 2017 and 2018 - mainly for administration, tourism and other service sector purposes. Furthermore, there is a trend of optimizing the energy performance of existing buildings.

An increasing part of the activity of new non-residential construction is investments in buildings for institutional and educational use, especially new hospitals and university buildings.


In 2015 and 2016, the activity at civil engineering works rose due to many large projects, especially in traffic and energy infrastructure, like offshore windfarms. However, the forecast of the Danish Construction Association shows, that civil engineering works peaked in 2016, and we expect stagnation at a high level in 2017 for this particular branch of the construction industry.

There are a large number of infrastructure investment projects. For instance the new circular Metro Line in the centre of Copenhagen, investments in a new railroad line in the TEN priority corridor between Copenhagen and Ringsted, and a light rail project in Aarhus.

However, the biggest investment of them all, the planned fixed link of the Femern Belt Tunnel connecting Denmark and Germany, has so far been postponed by four years. This project, with an estimated cost of approximately €7 billion, was originally planned with a construction start in 2016, but is now expected to begin in 2020 in the best case scenario.

DENMARK

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2016

a

2017

b

€ 277

BILLION 5,726,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 16,710 -1.5 7.7 3.2 5.5 3.6

1.1. Housebuilding 10,137 -6.2 7.3 4.5 8.9 3.1

1.1.1. New 2,845 -16.5 4.2 17.2 26.6 8.2

1.1.2. R&M 7,292 -2.8 8.2 1.1 3.3 1.1

1.2. Non residential (c) 6,573 6.0 8.2 1.5 0.7 4.4

1.2.1. Private 3,384 6.9 12.7 -0.5 1.4 3.5

1.2.2. Public 3,189 5.2 3.7 3.6 -0.1 5.4

2. Civil Engineering 7,729 5.8 -4.4 5.3 6.3 -4.1

(1 + 2) Total Construction 24,439 0.9 3.6 3.9 5.8 1.2



2013 2014 2015 2016a 2017b

Detached one-family houses 3,789 3,984 4,922 5,308 NA

Other one-family houses (rowhouses) 6,123 9,940 14,793 12,917 NA

Flats in multi-family houses etc. 1,518 1,898 1,996 2,177 NA

Total 11,430 15,822 21,711 20,402 NA

DENMARK

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130130

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ESTONIA

FR ©

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 21

BILLION 1,316,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 1,345 3.6 3.4 -1.8 12.8 NA

1.1. Housebuilding NA 11.5 24.1 -6.1 NA NA

1.1.1. New NA 4.5 63.3 5.4 NA NA

1.1.2. R&M NA 16.7 -2.6 -19.2 NA NA

1.2. Non residential (c) NA 1.1 -4.0 0.1 NA NA



2. Civil Engineering 550 2.6 -10.2 -7.3 -15.7 NA

(1 + 2) Total Construction 1,894 3.2 -2.1 -3.8 2.7 NA



2013 2014 2015 2016a 2017b

single dwelling 1,168 1,228 1,386 1,606 NA

collective dwelling 1,881 2,713 4,202 4,415 NA


Total 3,049 3,941 5,588 6,021 NA


ESTONIA

120

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The Spanish economy continued to grow at a robust pace throughout 2016, with an average growth rate of 3.2%. From a domestic point of view, the strength of consumption was based on low oil prices, increased employment, a reduced financial burden due to lower debt and moderate interest rates, coupled with a tax decrease. Among the most notable events, we should highlight the on-going real estate market recovery, the labour market recovery and the deleveraging in the private sector. Additionally, it is worth noting the moderate increase in investment in construction, although the current level is still 45% below the pre-crisis level.

Last year, job creation was up 2.7% in comparison to 2015. Nonetheless, the destruction of jobs in accumulated terms still exceeds 2.18 million people, of which close to a million are attributable to the construction sector. The average unemployment rate reduced to 19.6%.

Analysts foresee a moderation of growth in 2017, based on improved financial conditions and greater competitiveness of companies, the strength of consumption and the moderate recovery of household investment capacity, as well as the surplus in the current account balance.

Investment in construction, especially of a residential nature, will accelerate. Public investment is expected to remain at similar levels than in the previous year, while private investment, in a scenario in which financial conditions continue being favourable, is expected to increase at a relatively higher pace.

Taking into account estimations by SEOPAN, the construction sector in 2016 reached a production volume of €107.9 billion, up 2.6% year on year. In value-added terms, its historical evolution shows a severe loss in proportion, currently standing at 5.1% of GDP, a level close to the European average.

The recent trend in construction confirms the progressive improvement in housing demand and the continued strength of exporting activity, although there is some slowdown in employment recovery, which is attributable to the significant decline in the number of self-employed individuals against the increase in the number of salaried employees.

The increase in activity in 2016 is based on the increase in residential building and, to a lesser extent, the increase in activity related to non-residential building. With regards to the evolution of civil works, we should underline a return to a negative trend attributable to the fiscal consolidation process of Public Administration.

Forecasts for 2017 anticipate that investment in construction will slow its rate of growth, supported by a greater advance in the housing segment and a lower growth in other construction areas, with a decline in activity related to civil works being the most significant.

2. Housebuilding

Following the intense crisis in the sector, between 2007 and 2012, throughout the 2 subsequent years there was a stabilization and from 2015 there was a substantial recovery that raised the number of new housing permits in 2016 to approximately 50,000. Despite this recovery, investment in the residential segment has accumulated a decline of more than 50%, with its contribution to the GDP currently set at 4.7%, a level that is lower than the European average. With regards to the real estate market, it is worth noting the on-going recovery throughout 2016, showing significant price increases in those regions with a more dynamic demand, in particular related to investment, and less stock.

Activity in 2016 experienced a 4.5% increase. The outlook for 2017 foresees a higher growth, supported by the acceleration in new housing, boosted by the recovery in prices and in the light of evidence of an increasing need for new housing in areas with greater activity. This clear momentum in the residential market still has a significant potential demand, but the labour market conditions, which affect the first-time buyers, limit the expectations of a significant improvement in the short term.


Its recovery is based on the growth of business activity, especially in the industrial and office sectors, which are experiencing important growth in demand. On the other hand, public activity remains weak, with a significant drop in activity being expected throughout the current year.


The civil engineering segment, following the slight growth of 2015, resumed a downward path in 2016. Among the factors that determined this evolution we find the temporary nature of the acting Government, who had no legal capacity to implement an infrastructure policy, coupled with the need to contain public spending in order to meet the target deficit. Estimations for 2017 foresee a new adjustment in civil works, albeit of a lower intensity that the one posted the previous year.

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2016

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2017

b

€ 1,114BILLION 46,468,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 97,126 -5.3 2.5 5.4 5.0 4.9

1.1. Housebuilding 61,716 -5.6 5.0 5.8 5.2 5.6

1.1.1. New 37,485 -7.0 6.0 4.5 4.5 5.5

1.1.2. R&M 24,232 -3.4 3.4 7.9 6.2 5.7

1.2. Non residential (c) 35,410 -4.6 -1.4 4.8 4.7 3.6

1.2.1. Private 29,836 0.1 -0.9 6.8 8.5 6.2

1.2.2. Public 5,574 -19.1 -3.6 -3.1 -12.1 -10.1

2. Civil Engineering 20,208 -23.0 -4.0 2.5 -5.5 -5.0




2013 2014 2015 2016a 2017b

single dwelling 14,231 13,352 15,338 20,108 23,929



Total 31,236 33,643 36,059 49,375 60,220


110

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90

80

70

60

50

40

30

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30

40

50

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100

110

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Total construction volume turned to growth already in 2015 and continued to grow by approximately 6% in 2016. New building construction picked up rapidly after several years of decline. In particular, residential construction was driving the upswing in 2016. New non-residential construction is also gathering pace. Investments in civil engineering grew in 2016 but at a much slower pace than building construction. The economy returned to growth in 2016 and GDP is also continuing to increase at a rate of 2% annual growth in 2017. Construction is the main sector that is boosting the economy and better employment.

In 2017 total construction output will continue to grow by 2%. New residential construction is expected to increase by 4%. Also the volume of new non-residential construction will grow by 2%. The growth rate of housebuilding renovations is an-ticipated to slow down modestly to 1.5%. The volume of civil engineering is expected to grow in 2017 by 1.5%.

Employment in construction averaged 178,200 people at the end of 2016 according to The Labour Force Survey. Em-ployment recovered as construction volumes started to pick up at the end of 2015 and in 2016 there were 9,600 more employees than in the previous year. In 2016 the average unemployment rate fell to 8.7% (10.2 in 2015). The employ-ment outlook is continuing to improve. We expect the average employment in 2017 to be 182,000 people.

2. Housebuilding

Residential starts expected to amount to 38,000 in 2016. The level of starts has increased by continuous demand as a result of housing funds. In addition, households are showing more interest in investing in new housing as demand is erupting. The housing market is still being boosted by low interest rates. But the market is starting to focus as the demand is heavily projected towards small apartments, especially near public transportation.

There will be 34,000 housing starts in 2017. Investors’ de-mand is expected to decrease as plenty of apartments started in 2015 and 2016 will be completed during 2017. GDP and employment are finally growing in 2017 and thus consumers are more confident to make investment decisions.

During 2016 applications for new mortgage loans started to increase from previous years. In total, households applied for 7.7% more mortgage loans in 2016 compared to 2015. This is a promising sign for the housing market, for 2017.

The prices of old dwellings have picked up. The price gap is still widening between Helsinki region and other parts of Finland. Urbanization will continue in coming years, which is at a low level in Finland compared to other countries.

Residential repair, maintenance and improvement work is in-creasing steadily. In 2016 the sector growth slowed down a little bit and the same pace will continue in 2017. The main reason for the slight slowdown stems from new construction activity, which is now more attractive after several years of decline.


New non-residential construction activity turned to modest growth in 2016. Non-residential construction is being boosted by large projects. Still, the sector is suffering from the uncer-tain economic outlook which will diminish investment decisions in coming years.

The construction of commercial and office buildings is expect-ed to grow in 2017. Especially in the Helsinki region there are ongoing historically large projects. Also hotel investments are picking up. With digitalisation reforms especially in the com-mercial sector, there is still demand for high quality commercial and office buildings in attractive locations.

During the economic downturn between 2011 and 2015 new building construction of public buildings has been the bright spot in the non-residential sector. In many towns hospitals are under construction as well as schools, which are being con-structed and renovated. The construction of industrial buildings is also starting to increase partly due to single investments by the forest industry. But how broadly industrial investments will improve in 2017 is a critical question for total construction activity. Also investments in the energy sector and information sector, namely data centres, are supporting the construction of warehouse buildings.

The outlook for non-residential construction overall in 2017 is rather bright. We expect the volume of non-residential con-struction to increase by 2%.


The civil engineering sector also saw an increase in 2016. Even though there are ongoing big infrastructure projects, public finance is constraining the whole civil engineering sector. The competition in this sector is heavy and the costs are rising due to oil price changes. New investments are very low as the government austerity program is cutting finance. In 2015 the government agreed a three-year finance package for the maintenance of roads, which will last until 2018. This will help the sector, but only partly.

The good news is the start of long-term infrastructure planning which has been agreed among political parties at the begin-ning of 2017. A parliamentary committee will prepare the program and it should be ready in 2018. This will reduce the uncertainty in the civil engineering sector and also improve Finland’s position, enhancing its advantages in the logistics sector. We expect that the level of civil engineering works will grow modestly in 2017, compared with 2016.

FINLAND

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2016

a

2017

b

€ 216

BILLION 5,503,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 19,942 -4.6 -4.6 -0.1 7.8 2.4

1.1. Housebuilding 11,608 -3.3 -6.3 0.4 9.1 2.6

1.1.1. New 5,272 -9.6 -13.0 -2.8 20.0 4.0

1.1.2. R&M 6,336 2.8 -0.6 2.7 1.5 1.5


1.2.1. Private 5,916 -6.5 -2.3 -0.8 7.5 2.5

1.2.2. Public 2,418 -6.5 -2.3 -0.8 2.5 1.0

2. Civil Engineering 8,385 1.0 -1.2 11.9 2.0 1.0

(1 + 2) Total Construction 28,326 -3.2 -3.7 3.3 6.0 2.0



2013 2014 2015 2016a 2017b

single dwelling 7,900 7,000 6,300 6,600 7,000



Total 26,800 29,600 32,100 37,800 33,000


115

110

105

100

95

90

85

80

75

70

65

FINLAND

65

70

75

80

85

90

95

100

105

110

115

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After eight years of an almost continuous decline in production, the French construction industry’s activity progressed by 2.6% in volume terms in 2016. This recovery should continue in 2017, with an increase of 3%.

Besides, employment in the sector stabilized in 2016, thanks to an increase of temporary employment (+10,000 full time equivalent – FTE) while salaried jobs decreased (-12,000). In 2017, the construction industry should create around 12,000 jobs, with 8,000 salaried workers and 4,000 FTE temporary jobs.

2. Housebuilding

In 2016, housebuilding activity increased by 7.4% in volume terms, with 380,000 units started, thanks to 3 main drivers: • from the end of 2014 until 2016, the sales of new housing

rose both for promoters and individual homes’ builders; • interest rates reached a historically low level; • the institutional framework was particularly encouraging with

two major and successful incentives, the Zero rate loan (“PTZ”) and the “Pinel” mechanism on rental investment.

The year 2017 should be strongly positive for the same reasons, with an increase of housing starts of 7.6% to reach 408,000 units, close to the levels registered in 2004 and 2010. It should be noted that housing starts in the social rental market will remain stable, at around 100,000 units in 2017, as observed since 2010. According to the usual time required to complete them, housebuilding production should accelerate by 8.6% in volume terms in 2017.

For housing renovation and maintenance, activity rose slightly in 2016 by 0.5% in volume terms and should register very slow progress, with an increase of 1.1% in 2017. At present, the quick recovery of housing transactions since 2015 should gradually impact this market.

At the same time, energy performance renovation works will remain sluggish in 2017, due to the low level of energy prices and despite the continuation of numerous incentives such as the tax credit for energy renovation (“CITE”), the dedicated zero rate loan (“éco-prêt à taux zéro”) and the extension of Anah (National housing association) subsidies for 100,000 projects.


Surprisingly, the construction of non-residential buildings diminished noticeably less than expected in 2016 (-1.7%), after -11.3% in 2015. Excluding agricultural buildings, the surfaces started rose by 6.2% and reached 17.8 million m² of floor areas.

The very robust growth of permits in 2016 (+13.7%) should continue in 2017 and building starts, excluding agricultural buildings, should increase at the same level as 2016 (+5.6%), reaching 18.8 million m² of floor area. However, this level will remain 2 million m² lower than the one of 2013, which was a relatively poor year. According to the usual time required to complete building constructions, the global output of new non-residential buildings construction (including agricultural buildings) should rise by 4% in volume. Thus, 2017 will see an upturn in this market, after a continuous decline since 2008, which has led the particularly low levels of activity.

For the renovation and maintenance of non-residential buildings, like in 2016, the activity should increase at a low pace in 2017, with +0.6% in volume terms. For the first time in ten years, companies should prioritize investment in new buildings, to the detriment of renovation works.


Over these past 8 years the French civil engineering sector has suffered one of the worst economic crises in its history. Public works output dropped by more than 20% since 2008 and 35,000 jobs were destroyed. Unlike the overall economy, the crisis worsened during the last two years due to a significant decline in public investment – linked to a €11 billion drop of state grants to local governments from 2015 to 2017 and administrative and territorial reform.

In 2016, public works showed signs of an upturn in activity (+3.5% in real terms compared to 2015). This partial recovery is still uneven with wide interregional and urban/rural discrepancies remaining.

Civil engineering output is expected to continue rising in 2017 (+2.5% in real terms) mainly driven by major infrastructure projects (Greater Paris project, the very high-speed broadband plan, the motorway plan, etc.) and by a slight increase in local government investment spending. 2017, a year of presidential elections, will also be a decisive year that will shape the future of the public works industry for the next 5 years. Policy choices made by the new administration may profoundly influence the industry’s economic outlook.

Regarding overseas activity, French public works turnover rose by 7% in 2015 amounting to €28.5 billion. French civil engineering exports were particularly dynamic in Europe and in Oceania, contributing to half of total exports.

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‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 2,214

BILLION 66,633,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 119,728 -3.0 -4.9 -2.4 2.0 3.4

1.1. Housebuilding 73,621 -3.5 -6.0 -1.1 3.5 4.4

1.1.1. New 32,743 -6.0 -11.9 -3.0 7.4 8.6

1.1.2. R&M 40,877 -1.2 -0.9 0.3 0.5 1.1

1.2. Non residential (c) 46,107 -2.1 -3.1 -4.4 -0.2 1.8

1.2.1. Private 24,614 -2.0 -2.6 -2.8 0.9 2.9

1.2.2. Public 21,493 -2.3 -3.7 -6.1 -1.5 0.6

2. Civil Engineering 36,720 3.8 -6.0 -4.6 4.5 1.7




2013 2014 2015 2016a 2017b

single dwelling 201,396 172,968 176,154 192,955 217,257



Total 422,700 380,100 399,700 456,515 501,521


105

100

95

90

85

80

75

FRANCE

70

75

80

85

90

95

100

105

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Greece’s economy remained in recession – stagnation in 2016, after growing in Q2 to Q4 2014 and H1 2015. The country has been in recession for 8 consecutive years. Its annual GDP decreased by a further -0.1% in 2016, aggregating a total decrease of 27.3% since the 2008 peak. Inflation remains low due to the very depressed state of the economy. Unemployment is expected to decline, but only gradually. Although the fears for various aspects of the situation have diminished, the agreed changes are only being adopted very slowly, delaying the achievement of the second EU support agreement milestone. This has already had consequences, as the public is again withholding payments to its contractors, as the fear of risk is still present. On the other hand the taxes and social security contributions have skyrocketed, especially for small businesses and the working self-employed.

The financial crisis has caused many sectors of the econ-omy to shrink, including the construction sector; where the construction of buildings suffered the worst consequences. Projects co-financed by the EU have kept some life in the sector.

In 2016 the relevant cost of construction materials dropped by (-1.7%) since last year, while the cost of labour fell by (-1.4%) since last year.

The index of production for overall construction has gone down by a further -2% in 2016, or -73% from its peak at 2007. The situation in the buildings sector is dramatic, whereas a -15% from last year and -95.4% from 2007 peak has practically eradicated the whole sector. In civil engineer-ing projects we have seen a change of +0.1% from last year and -31% from the 2009 peak.

The general unemployment rate seems to have stabilised at a very high level of 23.5%, giving a sign of slight recovery from 24.9% last year. The unemployment rate in young people (up to 24 years old) remains at the extreme level, of 51% from 54%.

2. Housebuilding

The present situation in the housebuilding sector is charac-terised by housing oversupply, crisis-driven lack of demand in the market, plunging housing prices, capital controls and correspondingly no access to mortgages. All these factors are being reflected in the housebuilding statistics, and the conspicuous halt of any new housebuilding projects. The in-dex of production in buildings decreased by -15% compared to 2015 and -95.4% from 2007. The number of permits has decreased by -5.5% compared to 2015 or by -78% compared to 2009.


The sector of non-residential buildings is closely influenced by the overall economic activity and consequently has followed the same path. Despite the fact that there are no formal national statistics available this year for the sector, it is expected to be in line with the significant drop seen in the housebuilding sector.


This sector, consisting mainly of public investment and joint EU projects, showed a significant drop in figures. The sector’s index increased by +0.1% compared to 2015, but declined by -31% compared to the 2009 peak; reflecting the liquidity problems of the State, the overall economic prob-lems mentioned earlier and the consecutive public spending cuts due to the austerity measures. These figures are very low compared to earlier years and more investments in civil engineering projects are required in order to build sustainable growth.

For 2017, the sector’s figures are expected to decline further due to cuts in public spending, the completion of pre-crisis large projects and delays in EU funding of new infrastructure projects. An encouraging aspect is an anticipated increase in private sector spending in tourism and infrastructure investment.

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

Building Civil Engineering Total Construction

€ 176

BILLION 10,784,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 1,142 -31.6 -53.8 -28.2 -15.2 NA

1.1. Housebuilding NA NA NA NA NA NA

1.1.1. New NA NA NA NA NA NA

1.1.2. R&M NA NA NA NA NA NA

1.2. Non residential (c) NA NA NA NA NA NA



2. Civil Engineering 8,023 0.0 -2.7 2.7 0.1 NA

(1 + 2) Total Construction 9,164 -13.4 -19.9 -3.3 -2.1 NA



2013 2014 2015 2016a 2017b

single dwelling NA NA NA NA NA



Total 16,384 13,383 13,257 12,526 NA


120

100

80

60

40

20

0

GREECE

0

20

40

60

80

100

120

140

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The output of the Hungarian economy grew by 2% in 2016 and the value of gross domestic product amounted to 35,005 billion Forint at current prices. This 2% growth in gross domestic product in 2016 was primarily due to the engineering industry and the service sector, mainly commerce and tourism.

On the production side, the gross value of industry as a whole stagnated in 2016 but the construction industry itself decreased by 17.9%. The service sector increased by 3% and agriculture by 16.8% in 2016.

Household consumption increased by 4.2% and community consumption stagnated (it increased by 0.1%). As a result, final consumption was up by 2.5%. Gross capital formation decreased by 5% and as a part of this gross fixed capital formation decreased by 15%. Gross fixed capital formation slowed down the performance of economic growth by 1.1% points. The growth in exports was 5.8% and imports 5.7%.

In 2016 the annual average number of employees was 4,352,000, i.e. 141,000 higher than in 2015. The rate of employment of people aged 15-64 was 66.5% on average in 2016, i.e. 2.6% higher compared to the previous year.


The whole construction industry implemented construction-assembly works, amounting to a value of 1,813 billion Forint at current prices, the volume of which was 18.8% lower than in 2015. Construction products’ prices rose by an average of 2.8% compared to 2015. In addition, the volume of output decreased in both main groups of construction, by 3.7% in the construction of buildings and by 33% in civil engineering works. The largest decrease occurred in the output of road and railway construction enterprises.

At the end of November 2016 there were 88,959 construction organizations registered in the sector, including private entrepreneurs. This figure is 134 less than in late 2015. The number of existing undertakings included in the above figure is around 82,000. The number of construction undertakings registered by the Hungarian Chamber of Commerce and Industry was 63,800 at the end of 2016. According to the population employment data of KSH [Central Statistical Office of Hungary], the number of employees in the construction sector is 277,800, representing 6.4% of the total number of employees in the whole national economy. This figure includes 114,200 people that are employed.

The volume of orders at the end of 2016 and the number of new contracts was 89% higher than one year earlier. The estimated output of the Hungarian Construction Industry will be approximately 2,000 billion HUF in 2017.

3. Housebuilding

In 2016, 9,994 new dwellings were built, 31% more than the year before. The total number of issued dwelling construction permits and simple declarations concerning the construction of new dwellings was 31,559, more than two and a half times higher than in 2015.

In 2016, compared to the previous year:

• the number of dwellings built increased in all types of settlements, there was a higher than average increase in towns of regional importance (49%) and in Budapest (44%);

• the proportion of dwellings built by individuals fell from 59% to 49% and that of dwellings built by enterprises increased from 39% to 50%;

• among the newly built residential buildings, the proportion of family houses fell from 60% to 51% and the share of occupied homes in multi-storey, multi-dwelling buildings increased from 33% to 42%;

• the average floor-area of occupied homes decreased by 7 m² to 94 m²;

• the total number of issued dwelling construction permits and declarations was 31,559, that is more than two and a half times higher than in the previous year. In particular, there was almost a three-fold year-on-year increase in Budapest;

• based on new construction permits (declarations), 87% more, i.e. a total of 12,206 residential buildings are planned to be built, while the number of permits issued for non-residential buildings increased by 43% (6,632 units).

2,485 homes were demolished in 2016.

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€ 112

BILLION 9,830,000

GDP 2016

POPULATION 2016


2013 2014 2015 2016a 2017b




Total 7,536 9,633 12,515 31,559 NA


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In Ireland, the economy and population are fast growing. However, a decade of underinvestment has resulted in shortages of accommodation and inadequate infrastructure. The overall volume of construction output increased by 12.5% in 2016 to around €15 billion (6.9% of GNP), with growth of 8.5% forecast in 2017 and 7.1% in 2018. The average annual growth rate in the period 2016-2020 is projected at 9.1%. The volume of construction output by 2020 is forecast to reach €20.2 billion, or just over 10% of GNP.

2016’s growth in output was driven primarily by the private non-residential sector. In terms of the public sector, it is expected that increasing public capital expenditure will contribute towards an increase in overall output in the period to 2020. There is concern that the recovery in construction, like the economy, is not benefitting some parts of the country and is largely focused in the principle urban areas. Some regions and industry sub-sectors still face enormous challenges and are experiencing low levels of activity.

Direct construction employment rose to almost 137,000 people by the end of 2016. The strengthening of labour market fundamentals and the improving domestic economy will help to underpin the construction industry further in 2017. However, the industry will require almost 36,000 extra skilled craftsmen by 2020.

The industry is continuing to face a number of direct and indirect impediments which include: the uneven distribution of projects in the pipeline, current levels of construction costs and returns, availability of skilled craftsmen, access to development finance, a complex and onerous current public procurement regime and a delay in the delivery of construction projects on account of planning, regulatory and infrastructure issues.

The Government will unveil a new National Planning Framework by the middle of 2017. The industry is hoping that this Framework will be a successful driver of plan-led growth supported by investment across all regions to 2040.

2. Housebuilding

Since the economic collapse in 2008, very low levels of housing have been constructed, especially in the main urban areas where demand is now greatest. The Government published ‘Rebuilding Ireland’ a new Action Plan for Housing and Homelessness in 2016. Specifically, the plan aims to provide 47,000 new social homes by the end of 2021. €5.35 billion funding will be set aside for this element of the plan. The overall target is 25,000 new homes per year.

In 2016, housebuilding has picked up in urban areas. However, demand for new homes is still far outpacing supply, which is resulting in upward pressure on prices and rents. This trend will continue throughout 2017 and 2018. However, planning and access to finance will continue to be critical factors for all stakeholders. A minimum of 81,118 homes are needed over the period 2016-2021.

The main risk for the house building industry remains the threat of weakening economic activity at the national level (post Brexit). Access to mortgages was further impacted by the introduction of new Central Bank macro-prudential mortgage lending regulations in early 2015, which limited loan-to-value (LTV) and loan-to-income (LTI) ratios. These regulations were reviewed mid-2016 leading to a slight relaxation of the rules for first time buyers. The Government also introduced a ‘Help to Buy’ incentive in its 2017 budget for first time buyers.


Private non-residential construction recovered strongly in 2016 and the recovery will gather momentum post 2016. The aggregate level of private non-residential construction output is estimated at around €3.5 billion over the period 2015-2016, including industrial, commercial, tourism and agricultural building investment. Industrial building projects are expected to account for close to 60% of this investment, while commercial projects (offices and retail) could represent around 30% of the total. Activity levels picked up considerably in 2016, with an estimated €2.1 billion.

Activity in the office market is expected to support construction of around 132,000 m² of office space in Dublin over the next 3 to 4 years. There is also evidence of a growing demand for greenfield industrial sites in the industrial/ manufacturing sector.

The Foreign Direct Investment (FDI) sector is generating significant opportunities for the construction industry, as existing and new FDI companies seek to expand in, or relocate to, Ireland.

The lack of funding/credit and resources remains a challenge for the private non-residential construction sector. But Brexit may result in further investment opportunities arising in the years ahead.


The prospects for public sector construction are determined by the allocations in the Multi-Annual Exchequer Capital Investment Framework (MACIF). The most recent MACIF allocated a total of €11.1 billion over the period 2015 to 2017. The main spending departments are: Transport, Tourism and Sport (€2.93 billion), Education and Skills (€1.7 billion), Housing, Planning, Community and Local Government (€1.6 billion) and Health (€1.28 billion).

Furthermore, the Government undertook a detailed review of the public capital programme in 2015 which resulted in the publication of a new Capital Investment Plan: ‘Building on Recovery: Infrastructure and Capital Investment 2016-2021’ setting out the priorities to 2021. Total state supported investment will be some €42 billion over the life of the Plan. But the industry suggests that private capital will play a significant role in the delivery of national infrastructure over the coming years.

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2010 = 100

‘10

‘11

‘12

‘13

‘14

2015

a

2016

b

€ 266

BILLION 4,674,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 10,687 4.5 11.4 9.1 13.5 NA

1.1. Housebuilding 6,799 -1.8 15.9 8.8 9.8 NA

1.1.1. New 3,772 -4.5 32.5 12.7 13.2 NA

1.1.2. R&M 3,027 0.6 2.1 4.6 5.8 NA

1.2. Non residential (c) 3,888 17.7 3.6 9.7 20.4 NA

1.2.1. Private 2,348 28.8 0.3 17.0 32.7 NA

1.2.2. Public 1,540 7.3 7.3 2.0 5.6 NA

2. Civil Engineering 3,539 -6.7 6.5 3.5 9.6 NA

(1 + 2) Total Construction 14,226 1.2 10.1 7.6 12.5 NA



2013 2014 2015 2016a 2017b


collective dwelling 1,197 785 2,794 1,452 NA


Total 7,198 7,411 13,044 5,814 NA


IRELAND

170

160

150

140

130

120

110

100

90

80

70

6060

70

80

90

100

110

120

130

140

150

160

170

(Q1-Q3 only)

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Italy’s economic recovery continues to be slow and fragile. In 2016, the GDP grew by 0.8% in real terms, according to the National Institute of Statistics (ISTAT). The estimate by the National Association of Italian Constructors (ANCE) for construction investment in 2016 indicates a mere 0.3% yearly increase in real terms. Uncertainty in the sector is still high and the necessary conditions for an effective recovery are still missing.

These first timid positive figures are found in all sector’s divisions, following 8 consecutive years of sharp declines in production volumes, with the only exception of new house building that is still on the negative side (-3.4% from 2015).

Since 2008, the construction sector has lost 35% of its production volumes. If housing renovation – which is the only segment which increased over this period, due to tax relief – is taken out of the analysis, the decline in production volumes reaches a staggering -48.2%.

The impact on labour and capital has been very serious. From the beginning of the crisis, the sector has lost almost 600,000 jobs, and over 100,000 companies were driven out of the construction market between 2008 and 2014.

2017 may represent the turning point for the recovery of the construction sector. ANCE’s outlook for 2017 is positive and envisages a 0.8% increase of construction investment in real terms. In more detail, ANCE forecasts a 1.9% increase from 2016 in civil engineering, a further 1.4% increase in the renovation of the existing housing stock, and a 0.3% increase in private non-residential building. Only the investment in new house construction is expected to fall (-1.4% from 2016), even if this fall is slower than in previous years.

2. Housebuilding

Amid the negative production context, the housing residential market segment is continuing along the recovery path started in 2014. ANCE estimates about 520,000 housing transactions in 2016, representing a 17% growth from the previous year. Such a positive dynamic is expected to continue throughout 2017, with a forecast of 550,000 housing transactions.

ANCE estimates that investment in housebuilding stalled in 2016 (+0.1%), as a combined result of the decrease of investment in new constructions (-3.4%) and the increase in investment for housing renovation (+1.7%).

Among the main determinants of the housing market’s positive trend are the low interest rates and the renewed interest of finance in the real estate industry. This is fuelled by a loosening of mortgage credit standards, and a growing demand. Based on data by the Bank of Italy, in Q1-Q3 2016, the mortgages issued to households continued to increase by a significant 26.8%, following the substantial rises in the previous 2-year period.

The fall in housebuilding production levels is connected to the downward trend in construction permits, which have been steadily declining over the last decade. According to ISTAT, 2015 has seen the lowest level in the number of house construction permits, both for new constructions and extensions. In the period 2005-2015, the fall is estimated to be 84.5%.

Expectations of acquiring new contracts in 2017 are meagre, with a -1.4% real term forecast for investments in new housing units. By contrast, interventions for the renovation of the existing housing stock are expected to grow by 1.4%.

Overall, the annual forecast for 2017 predicts a yearly increase of 0.6%.


In 2016, private investments in non-residential building rose by 0.8% in real terms.

The estimate takes into consideration the positive figure for non-residential building permits where building areas increased by 14.1%, following significant drops in the previous years (-11.4% in 2014, and -28.5% in 2013), as well as the positive trend in mortgages issued for non-residential buildings in the period 2014-2015, both in number (+6.7%) and value (+67.3).

The outlook for 2017 is positive, with a further increase expected of 0.3% in private investment.


Calls for tender for civil engineering decreased both in number (-2.1%) and in value (-16.6%), reversing the positive trend of the previous 2-year period. This is partly due to the uncertainty deriving from the new regulations introduced by the New Italian Public Procurement Code approved on April 19, 2016.

ANCE estimates a feeble increase in civil engineering investment (+0.4% in real terms) in 2016.

The forecast for 2017 suggests an increase of 1.9% in real terms. It takes into account measures contained in the 2017 Budget Law, which are aimed at relaunching infrastructure investment, as well as strengthening existing tax relief – in particular that concerning interventions for anti-seismic safety and energy efficiency.

Moreover, the 2017 Budget Law also envisages a 23.4% real term increase in the resources available for new public works, coming after a 9.2% increase already experienced in 2016.

The surge in resources allocated to civil engineering works in 2017 is mainly due to the creation of a National Fund for Strategic Infrastructural Investments (natural risk prevention, transport infrastructure, water supply networks, public buildings, urban regeneration) and to the resources dedicated to reconstruction following the numerous earthquakes that occurred in Central Italy between August 2016 and January 2017.

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 1,671

BILLION 61,838,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 104,915 -7.3 -5.2 -1.4 0.3 0.6

1.1. Housebuilding 63,064 -3.3 -4.2 -1.9 0.1 0.6

1.1.1. New 19,186 -12.4 -14.0 -6.8 -3.4 -1.4

1.1.2. R&M 43,877 2.9 1.5 0.5 1.7 1.4


1.2.1. Private 33,064 -13.4 -7.1 -1.2 0.8 0.3

1.2.2. Public 8,788 -9.3 -5.1 1.9 0.4 1.9

2. Civil Engineering 14,963 -9.3 -5.1 1.9 0.4 1.9




2013 2014 2015 2016a 2017b

single dwelling 12,025 10,953 NA NA NA

collective dwelling 7,203 5,987 NA NA NA


Total 19,228 16,940 NA NA NA


100

90

80

70

60

50

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2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 38

BILLION 2,849,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 1,127 15.3 23.7 4.7 -2.2 NA

1.1. Housebuilding 396 13.2 50.2 38.3 10.4 NA

1.1.1. New 304 41.2 47.7 29.8 21.2 NA

1.1.2. R&M 92 -30.1 58.0 63.0 -14.6 NA

1.2. Non residential (c) 731 15.8 17.3 -5.7 -8.0 NA

1.2.1. Private 441 13.0 20.7 -0.8 -27.8 NA

1.2.2. Public 290 23.5 9.0 -18.8 57.9 NA

2. Civil Engineering 794 8.0 10.4 -11.7 -17.9 NA

(1 + 2) Total Construction 1,921 11.3 16.7 -3.5 -9.4 NA



2013 2014 2015 2016a 2017b


collective dwelling 114 85 116 143 NA

other types of dwelling 10 14 2 3 NA

Total 6,571 5,945 6,192 7,167 NA


LITHUANIA

110

100

90

80

70

60

50

40

30

2020

30

40

50

60

70

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100

110

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Household consumption is the main driving force behind the economic growth in the Netherlands. The disposable income of households will increase thanks to the ongoing rise in employment, in combination with real wage increases. The strong growth in the housing market forms an additional stimulus for consumption. For both 2016 and 2017, GDP is projected to grow by 2.1%. Unemployment will continue to fall (to 5.3%) this year and the government budget will be balanced. The debt ratio will decline, for the first time since 2010, to below the Maastricht norm of 60% of GDP.

The construction market has bottomed out in 2014. Construction output grew forcefully in both 2015 (8%) and 2016 (7%) and the outlook for this year is optimistic again. An increase of some 4.5% is expected. Employment and profitability levels, however, are still lagging despite these positive figures.

On 15th March 2017, general elections were held in the Netherlands. An often lengthy process of building a new coalition, most likely based around VVD, CDA and D66 – a combination that falls 5 MP’s short of a 76-seat majority, has started. Modernisation of the labour market, reform of the pension system and – last but not least – an effective climate policy are some of the major issues on the agenda.

2. Housebuilding

After a loss of a third of the volume in the crisis residential construction has increased dramatically from 2015 on. The development of residential construction has been boosted by the revival of consumer confidence and the housing market, low interest rates and the increasing need for housing due to expected granting of asylum to more people. New construction output contracted by about a half during the crisis. However, the output rose spectacularly (30%) in 2015. Last year an increase of 12% was achieved and further strong growth (some 10%) is expected this year.

The total number of permits for new construction is expected to reach 65,000 this year, after a disappointing 55,000 in 2016. This, however, is still far lower than the level needed to satisfy demand for new households for accommodation, let alone the delayed demand due to the crisis. For seven years now, the number of dwellings added to the housing stock has been lower than the number of new households. At the end of last year the delayed demand amounted to more than 100,000 dwellings. To satisfy new demand, some 75,000 dwellings per year are needed.

Increased movement in the housing market (20% more transactions of owner-occupied homes last year), higher incomes, increased propensity of households to spend and low interest rates are leading to more renovation orders by households. Measures stimulating energy saving renovations and an increase in transformation of vacant office buildings into accommodation are also contributing to a strong expansion in renovation and maintenance output. This year the sector is expected to show a further strong growth of some 4.5%.


Non-residential construction output lost a fifth of its output in the crisis, with new construction falling by more than a third. From 2016 on a steady but unspectacular growth is expected. The expansion of non-residential will remain very modest in comparison to the losses suffered, due to the continuing government austerity measures (especially at the regional and local level) and the excessive vacancy rates in some type of buildings (especially offices).

Improving economic conditions have led to a strong recovery in the sectors most sensitive to the economic climate: commercial and storage buildings. A continuing strong performance of these sectors, a recovery in industrial construction and a turnaround in the health building sector (from a decline to a slight growth), led to a small growth in new construction last year. The coming years will be characterised by a stronger but still modest (some 3%) expansion.

The outlook for the renovation and maintenance market, however, is quite favourable. The increase by some 6% in 2016 will be followed by a steady growth (some 4.5%) this year.


The civil engineering market is gradually recovering from the economic crisis and austerity measures of the past years. In 2016 an increase by some 1.5% was achieved. This expansion is mainly accounted for by an increase in new or renewed infrastructure. The main drivers of the improving market conditions are the economic growth, the construction of a number of large infrastructure projects and the sharp rise in the housing market. However, local governments (which commission around 45% of all civil engineering activities) are still experiencing pressure and uncertainty concerning their financial positon. In 2017 the civil engineering market will keep its modest growth path. Maintenance of infrastructure is still showing a weak performance with austerity measures still having a significant influence on maintenance budgets.

THE NETHERLANDS

56

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017



2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 697

BILLION 17,025,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 47,700 -7.2 1.9 10.5 8.8 5.4

1.1. Housebuilding 27,450 -8.9 2.8 20.2 13.2 6.6

1.1.1. New 12,150 -15.6 -2.0 28.7 11.7 8.8

1.1.2. R&M 15,300 -2.9 6.6 14.1 14.4 4.9

1.2. Non residential (c) 20,250 -5.3 0.9 0.5 3.3 3.7



2. Civil Engineering 14,775 0.4 3.0 1.0 1.5 1.5




2013 2014 2015 2016a 2017b




Total 28,230 40,170 54,690 55,020 65,000


THE NETHERLANDS

65

70

75

80

85

90

95

100

105105

100

95

90

85

80

75

70

65

57

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017


Overall economic development in Poland is on a stable growth path. GDP rose by 2.9% last year and is expected to grow another 3.2% in 2017. Since 2009, the year of the international economic crisis, GDP growth rates in Poland amount to 24%, compared to only 10% in the EU-28. The same situation can be seen in the construction sector, where the accumulated growth in Poland was 9%, whereas in the EU-28 a decline of 4% was observed.

Construction investment had an unexpected setback in 2016. Construction investment fell by nearly 4% in real terms, to a large extend caused by a week civil engineering sector. Last year saw a delay in the implementation of many important infrastructure projects. In 2017, the construction sector will return to a growth path, investment is expected to grow at a rate of 3.5%, slightly more than GDP-growth. The volume of total construction investment is expected to reach €50.6 billion. Construction’s share of GDP, will be around 10.2%, compared to the peak of 12.9% in 2008.

Due to the slowdown in output and high competition, construction prices fell by 10% from 2012 to 2016. Stagnation is expected for 2017.

2. Housebuilding

Last year the number of permits for houses and flats was 12% higher than 2015, the total figure rising to 211,500 units. This significant growth was supported by ongoing historically low mortgage rates and the growing ability of private households to finance the purchase or construction of houses or flats. This was the result of an improvement in disposable incomes coupled with falling prices.

As in other European countries investors are looking for fields of activity where yields are higher than on the capital market. At the same time, the combination of low mortgage rates and nearly zero interest rates for bank deposits is an incentive for private households to finance their own home with bank credits.

This is supported by the government programme “Home for the Young”, launched in 2014, which is aimed at younger people aged up to 35 and delivers subsidies to buy the first home. Last year the government announced plans to replace the programme in the coming years by a new one, to stimulate residential construction.

2017 investment into the existing housing stock and in new residential construction will show the same growth rate of about 2%. With a share of less than 30%, the share of residential construction in overall construction activity is much smaller than in Western Europe.


Investment in this sector by private investors is, as in other European countries, normally linked to overall economic development. Real GDP expanded by 2.9% last year and further growth of at least 3% is expected for 2017. However, the investment climate is nervous, a lot of companies are uncertain about their business prospects and therefore reluctant to invest. Furthermore the implementation of EU funds for private business is behind schedule - three years into the new financing period Poland has used less than 10% of the allocated funds.

Therefore the Ministry of development is working on the simplification of the management of EU funds, to enable higher growth potential of investments in 2017 and the coming years. Foreign investors are still highly interested in the Polish market focusing in particular on industry. German and Japanese car producers have announced large investments for new factories. The production of industrial buildings is expected to rise by 3% in real terms in 2017.

As for private investors, the use of EU funds by public authorities was delayed, although they will benefit the most from European money. Poland will receive €73 billion from the EU cohesion fund in the years 2014 until 2020. The main beneficiaries will be the regions, which can spend more than €28 billion, compared to 17 billion in the previous financing period. The increasing absorption of EU-funds will drive the public sector in 2017.


Many of the infrastructure projects that were delayed last year will come under construction in 2017. This is especially the case in railway construction, where incomplete documentation caused problems for projects financed or co-financed by the EU. Production in this sector is expected to expand by 13% this year.

Road construction will maintain high growth with another rise of 10% in 2017. In autumn 2016 the government announced plans for new motorways and highways of about 3,500 km. Construction has started on nearly 100 projects with a total length of 1,300 km. The total government plan for road construction in the years 2014 until 2023 will add investment of about €20 billion.

Energy and water supply will also show a considerable rise in construction works of 5 and 6% in 2017, a large part of the investment sum coming from EU-funds. When the problems with the implementation of EU legislation concerning the funds are overcome, the civil engineering market will remain the driving force for the Polish construction market in the coming years.

POLAND

58

CO

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ON

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RO

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- ED

ITIO

N 2

017


2010 = 100


‘10

‘11

‘12

‘13

‘14

2015

a

2016

b

€ 466

BILLION 38,443,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 33,900 -4.5 8.1 7.8 -2.3 1.8

1.1. Housebuilding 14,200 -6.3 5.9 10.4 2.9 2.1

1.1.1. New 10,500 -8.7 6.0 13.5 4.0 1.9

1.1.2. R&M 3,700 0.0 5.9 2.8 0.0 2.7

1.2. Non residential (c) 19,700 -3.2 9.4 6.1 -5.7 1.5



2. Civil Engineering 14,900 -9.0 9.9 4.5 -8.0 8.1

(1 + 2) Total Construction 48,800 -6.0 8.7 6.7 -4.1 3.7



2013 2014 2015 2016a 2017b

single dwelling 71,740 75,917 87,577 98,571 98,000



Total 131,493 156,752 188,822 211,565 203,000


POLAND

90

100

110

120

130

140

130

120

110

100

90

59

CO

NS

TRU

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ON

AC

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TY IN

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RO

PE

- ED

ITIO

N 2

017


In 2016, the Portuguese economy maintained a positive evolution: +1.2%, albeit at a slower pace than in the previous year, when GDP growth rate had been +1.6%. Throughout the year, domestic demand evolution was positive, due to both private and public consumption volume increase (+2.1% and +1%, respectively). On the contrary, gross fixed capital formation volume decreased 1.7%, being 2016´s worst performing among GDP components. Public investment decreased even more: -16.5% compared with 2015, and its weight relative to GDP reached the lowest value ever.

Net external trade contributed positively to GDP in 2016, with the volume of exports growing around 3.7% in comparison to 2015 (the most moderate growth rate of the last 4 years), while an evolution of +3.5% was calculated for imports.

Throughout 2016, public deficit declined from 3% in 2015 to 2.3% of GDP.

The labour market performed positively during the year, with an increase in the number of active workers (+1.3% by September), and a decrease in the unemployment rate from 12.4% in 2015 to 11.1% in 2016. Construction sector employment also increased compared with the previous year, reaching an average of 286,000 workers by September (+3.7% in homologous terms).

After the brief recovery observed in 2015, with +1.5% evolution in construction sector output, production volume fell again in 2016, by -3.3%. Only the residential segment performed positively, with a 5% increase in its output volume, in line with the great dynamism that was maintained in real estate (purchase and selling market) and in the R&M segment, more dynamic than the new construction segment. On the contrary, both non-residential construction and civil engineering works reduced volume production, as a clear consequence of the strong decrease in public investment.

For 2017, construction output evolution is expected to recover, with a 2.6% growth rate being forecast.

2. Housebuilding

In 2016, housebuilding segment production increased 5%, after the +2.5% evolution observed in 2015. This segment recovery (after 13 years of consecutive falls in its output) is in line with the better performance of the real estate market, reflected in sharp increases in housing sales. Following INE (National Institute of Statistics), the number of housing transactions increased 27% in 2015 and 20% in 2016, by September, mainly due to the sale of existing houses (+34% in 2015 and +24% in 2016) since the evolution of new house sales is much more moderate (+8% and +3% in 2015 and 2016, respectively). This evolution gave strong stimulus to the maintenance and rehabilitation segment, that is performing

more positively than new works (+4% and +1.7%, respectively, in real terms, in 2015 and +9.4% and +2.6% in 2016).

As the housing market is expected to maintain strong dynamism, forecasts for 2017 remain positive, with a segment global evolution of around +3%, with forecasts of +1.4% and +5.8% being anticipated for new works and the R&M segment respectively.

New dwellings construction permits evolution was very positive in 2016, with more than 11,000 dwelling permits issued, an increase of 36% compared with the previous year.

On the other hand, the information on the number of dwellings completed, available until September 2016 is still declining, with only 4,900 completions, reflecting a drop of 8% in homologous terms.


In 2016 production of the non-residential segment decreased 1.7%, entirely due to its public component, which fell by 9.4%, since private component output increased by 1% in real terms.

Following INE data, non-residential building permits evolution (in m²), considering the all types of buildings, was positive in 2016, for the first time since 2009 (+20% by November). Tourism, transportation and agriculture buildings were the categories where the evolution was negative in 2016, with declines in comparison to 2015, of 29%, 48% and 26%, respectively. On the contrary, permits for commercial buildings construction increased sharply with the homologous growth rate of 53%.

For 2017, the non-residential construction segment is expected to recover, in line with the GDP positive performance anticipated for 2017, with a forecast for the total segment output of +3.1% growth rate. Both private and public components of this activity segment are expected to expand output production (+2% and +5% in real terms, respectively) in line with the expected increase in public investment volume.


The civil engineering segment contracted 8% in 2016, a very marked revision from the last report forecast for this segment: +1.5%. This sharp fall was a consequence of the very low amount of public investment observed in 2016.Throughout 2016 and contrary to 2015, public works market figures performed positively, with a sharp increase in the amount of public contracts awarded (+39% in homologous terms). For 2017 this segment output is expected to increase 2% in real terms, due to the anticipated positive effects of the launch of some projects under the new European Structural Funds Package Portugal 2020 and of the regional elections, normally a positive factor on the volume of public works.

PORTUGAL

60

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017



2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 185

BILLION 10,308,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 5,492 -15.9 -7.8 2.1 1.4 3.1

1.1. Housebuilding 2,677 -18.0 -10.0 2.5 5.0 3.0

1.1.1. New 1,686 -23.3 -19.9 1.7 2.6 1.4

1.1.2. R&M 990 0.6 16.7 4.0 9.4 5.8

1.2. Non residential (c) 2,815 -13.8 -5.7 1.7 -1.7 3.1

1.2.1. Private 1,772 -13.0 -2.0 1.5 1.0 2.0

1.2.2. Public 1,044 -15.0 -11.0 2.0 -6.0 5.0

2. Civil Engineering 5,040 -14.0 -1.0 1.0 -8.0 2.0

(1 + 2) Total Construction 10,531 -15.0 -4.5 1.5 -3.3 2.6



2013 2014 2015 2016a 2017b

single dwelling 5,646 5,275 5,956 8,000 11,200



Total 7,321 6,858 8,169 11,110 13,332


110

100

90

80

70

60

50

40

30

PORTUGAL

30

40

50

60

70

80

90

100

110

61

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017


The construction industry declined in 2016 compared to 2015, by 4.8%. The volume of output in the construction sector reached €9.37 billion compared with €9.84 billion in 2015. In 2016, investment expenditure, including capital expenditure, as well as that relating to development programs, reached €9.1 billion compared to €9.3 billion in 2015. Net investments in new construction accounted for 46.8% in Q1 to Q3 2015 and in the same period in 2016 they achieved a share of 46.9%.

In December 2016 compared to December 2015, the volume of construction works decreased by 27.7%. Structural elements declined in all categories: capital repair works decreased by 41%, new construction works by 33.3% and maintenance and current repairs by 0.5%. The volume of construction works decreased in construction engineering by 40.9% and non-residential building by 6.1%. Residential buildings increased by 16.7%.

In 2016, compared with 2015, the volume of construction works decreased by 4.8% in total.

On structural elements:• New construction works decreased by 2.7%• Capital repair works decreased by 23.5%• Maintenance and current repairs increased by 1.5%

The volume of construction works on construction segments:• Non-residential buildings increased by 1.1%.• Residential buildings increased by 12.1%• Engineering construction decreased by 11.2%.

The average number of employees in the sector was 377,000 in 2016, compared to 361,000 people registered in 2015. Gross average earnings in November 2016 were €481, 3.6% higher than recorded in 2015 (€464.) Gross average hourly earnings were €2.92 /hour in 2016 compared to €2.82 /hour in 2015.

2. Housebuilding

In December 2016, the volume of construction works in residential buildings increased by 16.7% compared to December of 2015. In 2016 overall, the volume of works in residential buildings increased by 12.1% compared to 2015. In 2016, 38,726 building permits for residential buildings were issued, compared to 2015 when 36,487 permits were issued.


In December 2016 the volume of non-residential buildings decreased by 6.1%, compared to December 2015. In 2016 overall, compared with 2015, the volume of non-residential buildings increased by 1.1%, resulting mainly from the development of enlarged areas of logistics, shopping centers and office buildings.

A total of 237 building permits for administrative buildings were issued. A total of 196 building permits for administrative buildings, 125 licenses for hotels and similar buildings and 523 permits for commercial buildings were issued.

For instance, significant areas of offices and commercial buildings (€165 million investment in Mega Mall Hypermarket Bucharest) have been developed.


In civil engineering, the volume of construction works decreased by 11.2% in 2016, compared to 2015. A decrease of 40.2% was recorded in December 2016, compared to December 2015. This result is mainly due to the blockage registered nationwide in terms of attracting and absorbing European funds. In this way much of the financial resources necessary for the development and start of major investment projects were not available.

In 2015, the Transport Ministry received a budget of €2.9 billion. Based on this allocation, construction works in various highway sections – such as Lugoj-Deva, Timisoara-Lugoj, Deva-Sibiu, as well as the Transylvania highway – were continued.

In the field of railway infrastructure works, the modernization and renovation of the railway sector Curtici-Sighisoara and the modernization of 30 railway stations also progressed. These works are integrated in the European railway Corridor IV.

The works also moved forward on the Bucharest subway Line 5, which is scheduled to be finished in 2017. The M4 extension subway line was finalized. The design procedure for the M5 extension subway line on the Universitate-Pantelimon section and the M6 Gara de Nord-Otopeni Airport have been started.

A total of 26 power stations in the Moldova area have been retrofitted for E.ON

An interconnector between the gas transport systems of Romania and Bulgaria in the Giurgiu-Ruse area has also been achieved.

Finally, a high-powered laser is being constructed at Magurele, with a major scientific research target.

ROMANIA

62

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017



2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 168

BILLION 19,640,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 10,070 7.5 40.4 -4.8 6.1 6.4

1.1. Housebuilding 4,795 -13.2 63.4 -11.8 11.9 4.1

1.1.1. New 2,362 -24.7 75.5 -29.3 12.1 7.9

1.1.2. R&M 2,433 9.3 47.2 16.1 11.8 0.5


1.2.1. Private 4,025 29.5 2.6 -1.5 3.7 6.6

1.2.2. Public 1,250 31.2 309.1 13.1 -5.5 14.4

2. Civil Engineering 13,355 11.6 -18.2 21.1 -11.6 7.7

(1 + 2) Total Construction 23,425 10.3 0.4 9.6 -4.8 7.1



2013 2014 2015 2016a 2017b

single dwelling 37,776 37,672 39,112 38,653 40,580

collective dwelling 142 165 188 73 110


Total 37,918 37,837 39,300 38,726 40,690


140

130

120

110

100

90

80

70

60

50

ROMANIA

50

60

70

80

90

100

110

120

130

140

63

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017


The outlook for the Swedish economy was fairly bright during the autumn of 2016 and therefore the growth in 2017 is expected to be quite good. Foreign trade is sluggish, but the recovery in Europe will help Swedish export during 2017. It is the demand from the domestic market which is the main driver for the Swedish economy, although growing protectionism and increased political risks around Europe could have a negative on the growth rate in the coming years. In Sweden weaker investment and disposable income growth will slow down GDP growth from 3.4% last year to 2.4 in 2017.

The slowdown in GDP will dampen the total construction investment growth during the forecast period. Last year, construction investment rose significantly, where rising investment in residential construction was the main driving force. This year it is still residential investment that is the main engine due to the large number of new dwellings that are being started. All in all, total construction investment is increasing by 5% in 2017. Employment-wise, 2016 was a very strong year, construction employment grew by approx. 5%. The employment rate will continue to be positive in 2017 but the shortage of skilled labour in the sector will dampen the positive growth rate in construction employment.

2. Housebuilding

Investment in residential construction began to rise in the second quarter of 2013. Investment in both single and multi-family dwellings has contributed to the upturn. The increase will continue throughout the forecast period, thanks to the housing construction boom that started during 2014.

For newly constructed buildings the forecast is 65,000 dwelling starts in 2016 and 58.000 this year. Expressed in investment terms this means that new construction rose by 37% last year and will continue to increase by 13% this year.

Repair and maintenance investment decreased by 9% during 2016. The reason for this was that households reduced their demand for repair and maintenance work due to a less favourable tax deduction on this type of work (since January 2016 the deduction has been 30% - not 50% as previously).

This year private and public property owners’ renovation of rental housing will provide a positive contribution to the development whereas households will continue to cut back on their investments. All in all, total investment in housebuilding increased by 17% last year, and will continue to increase by 9% in 2017.


The market-oriented construction of non-residential buildings continued going up in 2016 after a relatively successful 2015. It was mainly the commercial and real estate sector together with increasing investment in the retail sector that drove the increase. This year, the economic outlook will keep on fuelling private non-residential investment. It is primarily the commercial and real estate construction sector that will contribute to the positive growth rate.

Local Authorities and Regions expect a very strained economy in the county council and municipal sector in 2017. On the other hand the large numbers of asylum seekers in Sweden are putting an enormous pressure on the municipalities to construct a lot more public buildings.

There are also several large public sector projects (hospitals) under construction and that is why we believe that public investments will have a positive growth even though the finances are very strained. Overall, total investment in non-residential buildings increased by 5% in 2016, and will continue to increase by 1% in 2017.


Civil engineering investment had a moderate growth rate last year. It was the private investment in the sectors of energy, waterworks and telecommunications that gave a positive impact in the civil engineering sector. This year, investments in the energy and telecom will decline, leading to an unchanged volume of investments in the private civil engineering sector.

Public civil engineering investment decreased in 2016. This was because of a sharp decline in railway investments (investments in roads and streets rose during 2016). However, public sector investments will have an upturn this year thanks to increased public spending on roads. The total civil engineering investments rose by 4% last year but will only increase with 1% 2017.

SWEDEN

64

CO

NS

TRU

CTI

ON

AC

TIVI

TY IN

EU

RO

PE

- ED

ITIO

N 2

017



2008 = 100

‘08

‘09

‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 459

BILLION 9,980,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 33,700 -0.7 9.8 9.6 11.9 5.7

1.1. Housebuilding 20,213 0.9 15.6 16.1 17.0 8.7

1.1.1. New 12,572 10.4 27.9 24.1 37.0 13.3

1.1.2. R&M 5,847 -5.9 7.3 9.3 -9.3 0.9

1.2. Non residential (c) 13,488 -2.3 3.6 1.8 5.1 1.3

1.2.1. Private 8,519 -2.6 -2.3 3.8 3.4 0.8

1.2.2. Public 4,969 -1.6 15.6 -1.5 8.3 2.1

2. Civil Engineering 8,802 -3.3 8.3 3.7 4.4 0.7


a: estimate - b: forecast - c: incl. R&M.


2013 2014 2015 2016a 2017b

single dwelling 7,111 9,743 11,504 14,000 14,000



Total 34,337 42,458 54,233 67,000 64,500


150

140

130

120

110

100

90

80

SWEDEN

80

90

100

110

120

130

140

150

65

CO

NS

TRU

CTI

ON

AC

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EU

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- ED

ITIO

N 2

017


The relatively favourable developments in the euro area in 2016 have had a positive effect on the Slovenian economy. The euro area is the main export market for Slovenia. Private consumption was the main driver of economic growth in Q1 to Q3 2016, which mainly reflected the recovery on the labour market. Confidence indicators were improving in 2016 and the economic outlook for the beginning of 2017 is favourable. In 2016, the economic growth continued for the third year consecutively, achieving a value of +2.3%. It was mostly driven by the growth in exports and domestic consumption while the construction industry faced a large decline (-17.7%).

Construction activity remained modest last year, which was the result of reduced government investment. Amid a general improvement in economic conditions and a rebound in the real estate market, the construction of residential buildings was the only segment to strengthen. The number of employed persons increased and there was 11.9% less unemployment at the end of 2016 than in the same period in 2015. With confidence indicators at the end of 2016 at their highest levels since the beginning of the crisis, the short-term prospects for economic activity and employment remain positive.

The large construction decline was the consequence of the end of the intensive public investments financed by EU funds in the period 2007–2013, from which all the relevant construction works should have been completed in 2015.

The decline in construction did not significantly influence employment in construction in 2016, where the number of employees remained more or less on the same level as in 2015.

The housing market started to recover in 2016, while non-residential buildings still remained in decline.

In 2016 a large decline in construction works (-17.7%) was recorded. The most negative decline was in civil engineering (-24.7%), while in buildings growth of 2.4% was recorded. Especially high growth (+73.9%) was recorded in residential buildings while for non-residential a drop of (-7.5%) was recorded.

Growing confidence in construction was recorded throughout the year 2016, which means that we could expect a better situation in the construction market in 2017.

In 2016 the average cost for housing construction increased by 0.2%. Labour costs increased accordingly by 0.8%, material costs decreased by 0.1%.

Already in H2 2016, a growth in private investments was recorded, especially in housing. In 2017, growth in private investments (industry, trade, citizens) is expected to continue. Public investments (Ministry of Infrastructure) are expected

to grow as well. In 2017 a solid growth construction activity is expected. We estimate overall growth in construction of 7.4%. In buildings construction, growth of 10.1% is expected (13.2% in housebuilding and 8% in non-residential buildings). In civil engineering, growth of 5% is expected.

2. Housebuilding

In 2016 an unexpected high growth (73.9%) in residential buildings was recorded. It is based on the expectations of investors that the stock of houses and apartments of the investors bankrupted during the crisis will be sold out soon. Less unemployment and low interest rates also brought optimism to the housing market. Detected growth in demand on the market and lack of work for construction companies with correspondingly low prices of construction works on the market encouraged investors to get involved in new housing projects.

Solid growth of 13.2% is expected in house building in 2017.


In 2016 non-residential buildings recorded a drop of 7.5%. It is a consequence of low investment activity in the public as well as the private sector. The public sector lacked EU funds while the projects which will be financed by EU funds in the new period 2014-2020 were still not ready to start. Despite economic growth, private investors remained very cautious regarding new investments.

In 2017 we expect growth in non-residential buildings of 8%. It will be driven especially by private investors.


The decline in civil engineering in 2016 was even more intensive than expected. It achieved -24.7% comparing to the previous year. The main reason was the end of EU funding and extremely low funding of road maintenance and reconstruction by the government.

After the end of EU funds for the period 2007–2013, for financing national and municipal infrastructure projects in 2015, in 2016 it is not expected that new projects will be ready to start for the period 2014-2020.

In 2017 growth in civil engineering projects of 5% is expected. It is based on an increased national budget for road and railway maintenance, reconstruction and new construction.

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2008 = 100

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‘10

‘11

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‘13

‘14

‘15

2016

a

2017

b

€ 40

BILLION 2,064,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 696 -13.4 -10.7 9.7 6.4 10.2

1.1. Housebuilding 302 -9.7 -10.4 24.8 35.4 13.2

1.1.1. New 192 -19.8 -12.5 24.3 71.9 15.0

1.1.2. R&M 110 4.2 -8.2 25.2 -1.2 10.0

1.2. Non residential (c) 394 -14.9 -10.8 3.2 -8.6 8.0



2. Civil Engineering 772 5.1 30.4 -9.9 -25.6 5.0

(1 + 2) Total Construction 1,468 -3.8 12.7 -3.2 -13.2 7.5



2013 2014 2015 2016a 2017b

single dwelling 2,398 2,215 2,330 2,373 2,450

collective dwelling 632 344 247 351 400


Total 3,050 2,578 2,595 2,744 2,870


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The United Kingdom’s economy continued to grow, despite economic experts predicting a recession following the vote to leave the EU. The economy grew by 2% in 2016, compared to 2.2% registered in 2015 and 2.5% in 2015. Unemployment fell to a historic record low of 4.8%, down from 5.1% in 2015 and 5.8% in 2014.

Theresa May became prime minister in July 2016, following the resignation of David Cameron after the EU referendum result. She is in the process of obtaining parliamentary consent to trigger Article 50 – the formal negotiation process to leave the EU – by March 2017, which would see the UK leave the EU by March 2019. May has outlined a Brexit plan to leave the single market and the customs union, allowing the United Kingdom to strike trade deals with other emerging world economies.

There were 2.2 million workers employed in the construction industry at the end of 2016, up from 2.1 million in 2015. The industry is still reeling from a shortage of skilled workers and has yet to recover the number of labourers lost in the aftermath of the global financial crisis, due to either retirement or redundancy.

2. Housebuilding

The United Kingdom continues to undergo a significant housing shortage, where demand outstrips supply of homes and pushes property prices up.

Although 300,000 new homes are needed each year to start tackling the housing shortage, the Department for Communities and Local Government reported that only 168,810 new dwellings were completed in 2015-2016. The majority of these came from the private sector, which delivered 134,500 new homes.


UK construction output for non-residential building amounted to €74.1 billion in 2016, compared to €65.4 billion in 2015. Overall, €62.5 billion came from the private sector and €11.6 billion came from the public sector.


Infrastructure output across 2016 decreased to €21.2 billion from €22.4 billion in 2015.

The planning of the high-speed railway link between London and the North has generated much interest both on the side of local contractors and large construction firms. It is likely that infrastructure and civil engineering output will increase greatly over the coming decade.

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2008 = 100

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‘10

‘11

‘12

‘13

‘14

‘15

2016

a

2017

b

€ 2,356

BILLION 64,600,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 160,729 4.9 11.5 2.7 1.3 NA

1.1. Housebuilding 65,345 7.4 20.2 -0.4 4.0 NA

1.1.1. New 36,678 10.8 32.1 0.2 8.4 NA

1.1.2. R&M 28,667 4.3 8.9 -1.2 -1.1 NA

1.2. Non residential (c) 74,172 2.4 8.3 1.3 13.3 NA

1.2.1. Private 62,532 4.1 10.3 3.6 30.6 NA

1.2.2. Public 11,641 -1.2 3.6 -4.3 -33.7 NA

2. Civil Engineering 21,208 7.2 -2.4 34.0 -5.7 NA

(1 + 2) Total Construction 181,938 5.2 9.9 5.7 0.4 NA


NUMBER OF BUILDING STARTS IN RESIDENTIAL CONSTRUCTION

2013 2014 2015 2016a 2017b




Total 162,100 171,880 172,490 NA NA


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The Swiss economy is still facing a substantial overvaluation of the Swiss Franc. However, the exchange rate shock of January 2015, when the Swiss National Bank discontinued the minimum exchange rate of 1.20 CHF per Euro, seems to have been overcome. Estimated GDP growth for 2016 was 1.3%.

The Swiss construction sector could maintain its output level. The estimated construction activity in 2016 amounts to €61 billion, slightly more than in 2015. For 2017 we forecast a small increase too. Given the high level, growth potential is somewhat limited. Saturation effects appear to be mainly in the housing market, where the production of new flats is higher than the current demand. The long-running price increase in the housing market came to an end in 2016. In some regions, particularly in western Switzerland, prices even dropped. Similar effects can be observed in the office market, but regional differences are important: some markets have high vacancy rates, others are more balanced.

2. Housebuilding

Housebuilding has been the main impulse for growth in construction activity for about a decade until 2013. Since, we have observed stabilisation on a high level. The Swiss construction sector produces about 50,000 new flats every year. For a small country like Switzerland, this is pretty remarkable.

As the yields on bonds and other investments are low, investments in rental housing are attractive to investors. However, demand is shrinking. Net inward migration has dropped from about 80,000 people in 2014 to 60,000 in 2016. As a consequence, vacancy rates are increasing. Yet, they have not reached a disturbing level, at least in general. Nevertheless in some regions, risks are growing.

We estimate that in 2016, housing construction activities reached about the same level as in the previous year and will slightly grow to €29 billion in 2017. Despite the high level of new buildings, the share of rehabilitation and maintenance has even somewhat grown over the past years. This reflects the high number of buildings in need of rehabilitation, mainly built from the 1960s to the 1980s.


The non-residential sector has profited from high investments in public buildings and in office buildings in the past few years. In the public sector, there is a huge renovation backlog in hospitals, which is leading to consistently high investment and will do so for many years to come. Investment in offices remains on a high level too, despite the fact that there is an oversupply of office space in certain areas. However, this will limit potential growth in non-residential buildings, at least in the long run. We see no significant changes in activity in 2016.


Civil engineering is benefitting from balanced public budgets and an undisputed need for infrastructure investments, especially in traffic infrastructure. Traffic jams and often overcrowded trains make that fact obvious. 2017 started with good news: The Swiss voters passed a new financing fund for road infrastructure in a popular vote in February. The fund will allow constant and reliable investment in maintenance and new construction of Swiss national road infrastructure. It will also boost available means by nearly €1 billion a year. A similar fund for railway infrastructure was passed by another popular vote in 2014.

Estimated activity is estimated to amount to €14 billion in 2016, which would be about 2% more than in the previous year. In 2017, we expect activity to stay at the same level.

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2016

a

2017

b

€ 591

BILLION 8,413,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 47,350 2.5 1.8 -1.6 3.5 1.3

1.1. Housebuilding 28,487 2.7 0.9 -2.7 3.6 1.6

1.1.1. New 20,311 2.1 0.9 -3.6 3.1 2.3

1.1.2. R&M 8,176 4.2 0.9 -0.6 4.7 -0.2


1.2.1. Private 11,177 2.5 1.6 0.2 3.3 0.8

1.2.2. Public 7,685 -0.6 5.9 0.2 3.3 0.8

2. Civil Engineering 14,004 1.0 2.8 -2.4 5.2 0.4

(1 + 2) Total Construction 61,353 2.2 2.0 -1.8 3.9 1.1



2013 2014 2015 2016a 2017b

single dwelling 10,562 9,031 8,426 8,042 7,500



Total 54,088 50,948 51,291 49,830 49,000


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Growth in 2016 was largely driven by new housing, but there was also growth in other segments. Especially surprising was the development in new non-residential buildings, which turned out to be more positive than we feared in last year’s report. There was very strong growth in civil engineering in 2016, but this has been forecasted for a few years already. After strong growth in overall construction activity in 2016, we are expecting activity to remain high in the next 2 years, but with lower annual growth.

Total construction activity amounted to €54.4 billion at current market prices in 2015, which gives an annual volume growth of 1.7%. Our estimate for construction activity in 2016 is €59.6 billion measured in current prices, and the forecast for 2017 shows €61.8 billion (acc. to 2010 average exchange rate 1€ = 8NOK). We estimate that total construction output grew strongly by 7.8% in 2016, and yet another 3.5% growth is forecast for 2017.

The decline in petroleum investments will subside in strength this year and increasing housing investments will contribute positively to growth in the overall economy. However, a strong, positive turnaround in the economy is not likely in the short term. Employment has stagnated and many industries report a weak trend in production, prices and profitability, but the latest signals indicate that the downturn might have hit the bottom. Estimated total employment in construction was 205,000 persons in 2016, which is a 0.5% decrease from 2015. In 2017, we expect 1.8% growth in total construction employment.

2. Housebuilding

Despite very uncertain times with low growth in the economy in 2016, the new housing market was surprisingly stable and almost seemed to be separated from the rest of the economy. Demand drivers are the same as in the previous report: low interest rates, low unemployment outside the petroleum-highly-dependent southwestern region and population growth with increasing urbanisation. The supply side, however, seems to have changed, and is finally responding to the increased housing prices.

In 2016, we estimate that both building starts and permits exceeded 36,000 units. The estimate is based on statistics for the three first quarters of the year. This is a strong growth of around 16% from 2015, which was the year with the highest amount of starts since 2007. We expect that around 35,000 dwellings will be started in 2017. Considering the housing market in monetary terms, investments in new residential construction (dwellings, garages and holiday houses) was €12.8 billion measured at current market prices in 2015. Our estimate for 2016 shows a strong growth of 16.8%. The forecast for 2017 is however much more moderate, we expect 1.7% growth in investments in new residential construction this year.

The R&M market for residential buildings was €7.6 billion in 2015 at current market prices, an increase of 2.1% against the previous year. In 2016, a weaker growth in both consumption and household disposable income led to a weaker growth in R&M residential of around 1.5%. In 2017, we expect a slightly stronger growth of 1.8%.


The market for new non-residential buildings is still two-fold, and the distinction between the development in private and public buildings is becoming sharper. Declining petroleum investments, a weakened supplier industry and the repercussions of this for other industries is affecting demand for private buildings. Although the public revenues from petroleum activities are declining, the government still has substantial fiscal and monetary leeway – and as a result, public buildings are being commissioned as never before.

Construction output (new and R&M) in non-residential buildings was €18.4 billion in 2015 measured at current market prices, which indicates no volume growth from the year before. If we consider the 2 segments, private non-residential declined by 4.3% in 2015, while public increased by almost 7%. In 2016, we estimate that new investments and R&M in total non-residential increased by 1.9%, but again with significant differences: private decreased by 3.7%, while public increased by almost 11%.


This market has experienced strong growth since 2010, and there are no signs of weaker growth in the forecast period. The value of the Norwegian civil engineering market, consisting of new investments plus maintenance, amounted to €15.5 billion in 2015 – which gives a volume growth of 3% from 2014. Transport infrastructure had the largest share of the market last year, with around 60% of the total market. About 70% of the production value is investment in new construction, while 30% is R&M. In 2016, this market really boomed and the value of investments plus R&M increased by 10.7%. In 2017, we expect strong growth of 9.2%.

In general, investments are growing faster than maintenance – annual growth in maintenance is around 3% every year, while investments increased by as much as 14% in 2016. Road works, energy works and investment in water works and sewage systems, in harbours and airfields, will be the main drivers and they will counteract the negative effects of declining railway investment.

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2016

a

2017

b

€ 405

BILLION 5,214,000

GDP 2016

POPULATION 2016


production Mln. €


Sectors 2016a 2013 2014 2015 2016a 2017b

1. Building 35,613 -0.4 -0.4 1.4 6.7 1.2

1.1. Housebuilding 19,414 2.5 -3.7 2.8 11.0 1.7

1.1.1. New 12,734 3.8 -7.5 3.2 16.8 1.7

1.1.2. R&M 6,680 0.1 3.2 2.1 1.5 1.7

1.2. Non residential (c) 16,199 -3.5 3.5 -0.2 1.9 0.5

1.2.1. Private 9,349 -5.4 3.1 -4.3 -3.7 -2.3

1.2.2. Public 6,850 -0.1 4.1 7.0 10.6 4.3

2. Civil Engineering 14,837 7.0 5.3 2.7 10.7 9.2

(1 + 2) Total Construction 50,450 1.5 1.2 1.7 7.8 3.5



2013 2014 2015 2016a 2017b

single dwelling 8,704 8,369 8,391 8,667 8,250



Total 31,430 29,397 31,145 36,152 33,000


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Although construction industry accounts for almost 8-9% of total GDP in Turkey, together with the direct and indirect impacts of the sector on the related industries, such as production of building materials and construction machinery, engineering and architecture, the share of the overall sector in the country’s economy is 30%.

Over the last decade a noticeable impetus has been given to Turkish economy by the construction sector. The sector employs nearly 2 million people.

Despite recent economic slowdown in the country, the construction sector looks to continue its moderate growth in the coming years due to the governmental programme of urban renewal and a series of large-scale infrastructure projects.

In correlation with the GDP growth trend, the Turkish construction sector output has fluctuated over the recent years. The sector showed a 7.2% growth in 2016 and it is expected to have a better performance in 2017.

To date, Turkish contractors have completed almost 9000 projects on five continents and 115 countries with a total business volume of USD 342 billion. Almost 90% of the works are undertaken in North Africa, Eurasia and the Middle East.

2. Housebuilding

The housing supply and demand balance in Turkey has gradually started to align. An average of 1,000,000 residential buildings are exchanged annually, and an average of 650,000 units/year of new housing is required.

When the demographic variables are examined, it should be noted that the demand for real estate sector products, especially the housing sector products continues. Besides growing population, different income levels and social characteristics influencing the decision makers’ preferences are the other factors affecting the housing prices. Housing stock is non-homogeneous at the same time.

In 2015, 1,289,320 residential sales were completed. In 2016, this figure reached 1,341,453 units with an annual increase of 4%. During this period, the housing sales to foreigners declined by 20.3% to 18,189 units while its share of total sales was 1.3%.

The price increases in the housing market, as a result of the developments in 2016, have been continuing more moderately. The demand for housing for both investment and own use purposes are continuing and there is a possibility of a record regarding sales in 2017 as well.


Office building construction growth maintained its upward trend especially in the big cities of the country in recent years.

The Istanbul office market performed effectively with a large number of new projects completed in 2016 and a high leasing transaction volume. The total A-class office supply exceeded 5 million m2, achieving an annual increase of 9%. Taking into consideration the supply of about 2.8 million m2 under construction, it is estimated that the total office supply will exceed 7.5 million m2 by 2020.

As of the end of 2016, the total number of shopping malls in Turkey has reached 387. The cities having the most shopping malls are Istanbul (123), Ankara (35) and Izmir (21) respectively. There are 10-12 new shopping malls throughout the country which are under construction or at project stage. These developments indicate that the shopping mall investments and growth will continue in the upcoming period.

In 2016 retailing continued to record a positive performance, boosted by ongoing company investment, internet retailing and promotional activities. Nevertheless, compared with the previous year, the growth was weaker, as a result of economic slowdown and increasing security risks, which reduced consumers’ enthusiasm for shopping.


There is an increasing involvement of the private sector in civil engineering projects in Turkey.

The Turkish Government has planned and initiated a set of infrastructure investments both as public investments and PPP projects before the 100th anniversary of the Turkish Republic in 2023. A total of USD 325 billion is expected to be invested in these projects within the coming 7-8 years.

The main focus is to extend the motorway and divided road network, establish a wide reaching high speed train network, continue the healthcare campus projects to raise quality of the healthcare services across the nation.

In addition, to maintain the hub role of the country in the region, high capacity port and airport investments are also key growth areas.

The total capacity of the power plants will be increased to secure the power supply through renewable, local coal and nuclear power plant investments. The Turkish telecom sector is also one of the key growth areas in Turkey, which is mainly driven by the investments of private telecom companies rather than public spending.

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Housebuilding Civil Engineering Total Construction

‘10

‘11

‘12

‘13

‘14

2015

a

2016

b

€ 776

BILLION 79,815,000

GDP 2016

POPULATION 2016


2013 2014 2015 2016a 2017b

single dwelling 23,219 24,850 21,930 21,478 21,000

collective dwelling 812,919 1,002,453 866,067 960,832 1,000,000


Total 839,630 1,031,754 891,798 986,119 1,024,800


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© K

ara

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AT

Bundesinnung Bau – BI BauSchaumburgergasse 20/8AT – 1040 Wien

T (+43) 5 90900-52.22 F (+43) 5 [email protected]://www.bau.or.at

Fachverband der Bauindustrie – FVBISchaumburgergasse 20/8AT – 1040 Wien

T (+43) 5 90900-52.22 F (+43) 5 [email protected]://www.bau.or.at

Expert: Mr Peter Scherer

BE

Confédération Construction34-42 rue du LombardBE – 1000 Bruxelles

T (+32.2) 545.56.00F (+32.2) [email protected]://www.confederationconstruction.be

Expert: Mr Jean-Pierre Liebaert

BG

Bulgarian Construction Chamber – BCC6 Mihail Tenev Str.BG – 1784 Sofia

T (+359.2) 806.29.11 / 806.29.62F (+359.2) [email protected]://www.ksb.bg

Expert: Ms Tatyana Bachvarova

CH

SBV SSESSIC

Schweizerischer Baumeisterverband Société Suisse des Entrepreneurs Società Svizzera degli Impresari-CostruttoriSocietad Svizra dals Impressaris-Constructurs

Schweizerischer Baumeisterverband – SBVSociété Suisse des Entrepreneurs – SSEWeinbergstraße 49 – Postfach 198CH – 8042 Zürich

T (+41.44) 258.81.11F (+41.44) [email protected]://www.baumeister.ch

Expert: Mr Silvan Müggler

CY

Federation of the Building ContractorsAssociations of Cyprus – OSEOK3A, Androcleous Str.CY – 1060 Nicosia

T (+357.22) 75.36.06F (+357.22) [email protected]://www.oseok.org.cy

Expert: Ms Lefki Pantelidou Kosta

CZ

Association of Building Entrepreneursof the Czech Republic – SPS

Expert: Mr George Skala

DE

Hauptverband der DeutschenBauindustrie e.V. – HDBKurfürstenstraße 129DE – 10785 Berlin

T (+49.30) 212.86.0F (+49.30) 212.86.240 [email protected]://www.bauindustrie.de

Expert: Mr Heinrich Weitz

Zentralverband des DeutschenBaugewerbes – ZDBKronenstraße 55-58DE – 10117 Berlin

T (+49.30) 20.31.40F (+49.30) [email protected]://www.zdb.de

Expert: Mr Andreas Geyer

DK

Dansk ByggeriNørre Voldgade 106Postboks 2125DK – 1358 Kobenhavn K

T (+45) 72 16 00 00F (+45) 72 16 00 [email protected]://www.danskbyggeri.dk

Expert: Mr Bo Sandberg

EE

Estonian Association of ConstructionEntrepreneurs (EACE)Pärnu mnt 141EE – 11314 Tallinn

T (+372) 687 04 35F (+372) 687 04 [email protected]://www.eeel.ee

ES

Confederación Nacional de la Construcción – CNCC/ Diego de León 50ES – 28006 Madrid

T (+34.91) 562.45.85 / 561.97.15F (+34.91) [email protected]://www.cnc.es

Expert: Mr José-María Duelo

FI

Confederation of Finnish ConstructionIndustries – RTUnioninkatu 14 – PO Box 381FI – 00131 Helsinki 13

T (+358.9) 129.91F (+358.9) 628 [email protected]://www.rakennusteollisuus.fi/

Expert: Mr Sami Pakarinen

FR

Fédération Française du Bâtiment – FFB33 avenue KléberFR – 75784 Paris Cedex 16

T (33-1) 40.69.51.00F (33-1) [email protected]://www.ffbatiment.fr

Expert: Mr Loïc Chapeaux

Fédération Nationale des Travaux Publics –FNTP3 rue de BerriFR – 75008 Paris

T (33-1) 44.13.31.44F (33-1) [email protected]://www.fntp.fr

Expert: Mr Jean-Philippe Dupeyron

LIST OF THE EXPERTS

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LIST OF THE EXPERTS

GR

Association Panhellénique des IngénieursDiplômés Entrepreneurs de Travaux Publics –PEDMEDE23 rue AsklipiouGR – 106 80 Athènes

T (+30) 2.10 361.49.78F (+30) 2.10 [email protected]://www.pedmede.gr

Experts: Ms Eleni PapagianniMr Alkiviadis PapadopoulosMr Efstratios Zissimopoulos

HR

HUP – UPGRadnička cesta 52HR – 10 000 Zagreb

T (+385 1) 4897.580F (+385 1) [email protected]://www.hup.hr

Experts: Mr Zdenek Karakas Ms Tatjana Gracic

HU

National Federation of HungarianContractors – ÉVOSZDöbrentei tér 1.HU – 1013 Budapest

T (+36.1) 201.03.33F (+36.1) [email protected]://www.evosz.hu

Expert: Mr Zoltán Pete

IE

Construction Industry Federation –CIF Construction HouseCanal RoadIE – Dublin 6

T (+353.1) 40.66.000F (+353.1) [email protected]://www.cif.ie

Expert: Ms Jeanette Mair

IT

Associazione Nazionale Costruttori Edili – ANCEVia Guattani 16-18IT – 00161 Roma

T (+39.06) 84.56.71F (+39.06) 84 56 75 [email protected]://www.ance.it

Experts: Mr Flavio MonosilioMs Giovanna Altieri

LT

Lithuanian Builders Association – LSALukiškių st. 5-501, 502LT – 01108 Vilnius

T (+370) 52 12 59 01F (+370) 52 12 59 [email protected]://www.statybininkai.lt

LU

Groupement des Entrepreneurs du Bâtiment etdes Travaux Publics – GEBTP7 rue Alcide de GasperiLU – 1615 Luxembourg

T (+352) 43.53.66F (+352) [email protected]://www.fedil.lu

NL

Bouwend NederlandPostbus 340NL – 2700 AH Zoetermeer

T (+31-79) 325 22 52F (+31-79) 325 22 [email protected]://www.bouwendnederland.nl

Expert: Mr Wim Schreurs

NO

Entreprenørforeningen – Bygg og Anlegg - EBANorwegian Contractors AssociationP.O. Box 5485 MajorstuaNO – 0305 Oslo

T (+47) 23 08 75 [email protected]://www.eba.no

Experts: Ms Siw LinderudMs Torild Engh

PT

Portuguese Federation of construction andpublic works’ industry – FEPICOPRua Carlos Mayer, n°2, 1° andarPT - 1700-102 Lisboa

T (+351.21) 311 02 00F (+351.21) 355 48 [email protected]://www.fepicop.pt

Experts: Mr António Manzoni de SequeiraMr Paulo Lobo

RO

The Romanian Association of BuildingContractors – ARACO17 Papiu Ilarian Streetcod 031691, Sector 3RO – Bucharest

T (+40.21) 316.78.96F (+40.21) [email protected]://www.araco.org

Expert: Ms Cristina Driga

SE

Sveriges Byggindustrier – BIStorgatan 19BOX 5054SE – 102 42 Stockholm

T (+46.8) 698 58 00F (+46.8) 698 59 [email protected]

Expert: Mr Fredrik Isaksson

SI

Chamber of Construction and BuildingMaterials Industry of Slovenia - CCBMISDimiceva 13SI – 1504 Ljubljana

T (+386 1) 58 98 242F (+386 1) 58 98 [email protected]://www.gzs.si

Expert: Mr Jože Renar

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LIST OF THE EXPERTS

SK

Zvaz stavebnych podnikatelovSlovenska ZSPSSabinovska 14SK – 821 02 Bratislava

T (+421.2) 43 633 263F (+421.2) 43 426 [email protected]://www.zsps.sk

TR

Turkish Contractors Association – TCABirlik Mahallesi, Dogukent Bulvari, 447. Sokak No. 4TR – 06610 Cankaya-Ankara

T (+90.312) 439.17.12/13F (+90.312) [email protected]://www.tmb.org.tr

Expert: Ms Cigdem Cinar

UK

National Federation of Builders

National Federations of Builders — NFBSpectrum House, Suite AF29,Beehive Ring Road, Gatwick, UK -West Sussex, RH6 0LG

T (+44) 8450 578160 / 1293 586540F (+44) 8450 578161 / 1293 [email protected]://www.builders.org.uk

Expert: Mr Giorgio Buttironi

Associate Members:

EFFC

European Federation of Foundation ContractorsForum Court83 Copers Cope RoadBeckenhamGB – Kent BR3 1NR

T (+44.208) 663.09.48F (+44.208) [email protected]://www.effc.org

EQAR

European Quality Association for Recycling e.V.Kronenstraße 55-58DE – 10117 Berlin

T +49.30) 203.14.575F (+49.30) [email protected]://www.eqar.info

Member of:

CICA

Confederation of International Contractors’ Associations 3 rue de BerriFR – 75008 Paris

T (+33) 1 58 56 44 20F (+33) 1 58 56 44 [email protected]:// www.cica.net

In Close Cooperation with:

EIC

European International Contractors Kurfürstenstrasse 129DE – 10785 Berlin

T (+49) 30 212 86 244F (+49) 30 212 86 [email protected]://www.eicontractors.de

Cooperation Agreement:

NFB

National Federation of Builders

National Federations of BuildersSpectrum House, Suite AF29,Beehive Ring Road, Gatwick, UK -West Sussex, RH6 0LG

T (+44) 8450 578160 / 1293 586540F (+44) 8450 578161 / 1293 [email protected]://www.builders.org.uk

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Coordination / KoordinationChristine Le Forestier - FIEC

Design inextremis.be

Traduction / Translation / Übersetzung DSDB, Bruxelles

EUROPEAN CONSTRUCTIONINDUSTRY FEDERATION

CONSTRUCTION IS THE SOLUTION INDUSTRY

EMPLOYMENT

COMPETITIVENESS

ENVIRONMENT

IT-NETWORKS

WATER NETWORKS

ENERGY NETWORKS

SOCI

AL IN

FRAS

TRUC

TURE

ENERGY EFFICIENCYTRANSPORT INFRASTRUCTUREGROWTH

CLIM

ATE C

HANG

E INFRASTRUCTUREINNOVATION

RESOURCE EFFICIENCYRE

CYCL

ING

ENERGY PRODUCTIONSK

ILLS

TRAI

NING

/EDU

CATI

ON

STANDARDISATION

JOBS

YOUTH EMPLOYMENT

Pho

to: P

akhn

yush

chyy

- F

otol

ia.c

om

BIM

“Registered Association” according to the French Law of 1st July 1901; Préfecture de Police, Paris, N°69921.P

Registered head office:3 rue de BerriF-75008 Paris

Transparency Register: 2221016212-42

Avenue Louise 225- B-1050 BrusselsT +32(0)2 514.55.35F +32(0)2 [email protected]

@FIEC_Brusselswww.fiec.eu

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