Synopsis
This report provides detailed market analysis, information and
insights into the Estonian construction market, including:
·
The
Estonian construction market’s growth prospects by sector, project type and
type of construction activity
·
Analysis
of equipment, material and service costs across each project type within
Estonia
·
Critical
insight into the impact of industry trends and issues, and the risks and
opportunities they present to participants in the Estonian construction market
·
Assessment
of the competitive forces facing the construction industry in Estonia and
profiles of the leading operators
·
Data
highlights of the largest construction projects in Estonia.
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Executive summary
The Estonian construction industry recorded a CAGR of -6.69%
during the review period. The housing market cooled in 2008 as interest rates
began to rise and banks tightened their lending conditions. Deflation in the
property market was one of the main reasons for the decline in domestic demand
and was a major contributor to the country witnessing an economic contraction
of over 14% in 2009. Investment in the infrastructure construction market went
some way to supporting the construction industry during the period of economic
downturn, recording the lowest decline in all construction markets during the
review period, at -0.08%. Overall, a balanced growth with a focus on quality is
forecast for the Estonian construction industry. Timetric expects the Estonian
construction industry to record a CAGR of 5.83% over the forecast period.
Scope
This report provides a comprehensive analysis of the construction
industry in Estonia:
·
Historical
(2008-2012) and forecast (2013-2017) valuations of the construction market in
Estonia using the construction output and value-add methods
·
Segmentation
by sector (commercial, industrial, infrastructure, institutional and
residential) and by project type
·
Breakdown
of values within each project type, by type of activity (new construction,
repair and maintenance, refurbishment and demolition) and by type of cost
(materials, equipment and services)
·
Analysis
of key construction industry issues, including regulation, cost management,
funding and pricing
·
Assessment
of the competitive environment using Porter’s Five Forces analysis
·
Detailed
profiles of the leading construction companies in Estonia
Reasons to buy
·
Identify
and evaluate market opportunities using our standardized valuation and
forecasting methodologies
·
Assess
market growth potential at a micro-level via 600+ time series data forecasts
·
Understand
the latest industry and market trends
·
Formulate
& validate business strategies by leveraging our critical and actionable
insight
·
Assess
business risks, including cost, regulatory and competitive pressures
·
Evaluate
competitive risk and success factors
Key highlights
·
Estonia’s
real GDP growth dropped sharply from 8.3% in 2011 to 3.2% in 2012, owing to
weak external demand emanating from the eurozone crisis. Reflecting weak
external demand from Russia, Finland and Sweden (its key trading partners),
export growth decelerated sharply from 22.9% and 23.4% in 2010 and 2011
respectively to 5.6% in 2012.
·
Private
consumption, which accounts for 52% of GDP, grew at a faster pace, from 3.6% in
2011 to 4.5% in 2012, supported by enhanced consumer spending and retail
activity. Gross capital formation remained robust, recording a growth of 25.9%
and 20.9% in 2011 and 2012 respectively, as new projects supported by EU funds
and sale of CO2 emission allowances supported investment activity.
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This Report:-
·
Due
to a slowdown in construction during the economic downturn, commercial real
estate supply lags behind demand. There is an acute shortage of Grade-A office
space and good quality Grade-B buildings. Since adopting the euro, interest
from foreign investors has grown significantly, with major interest coming from
Swedish and Finnish companies. Additionally, the country’s IT sector has
performed well even through the crisis and will demand good office space.
·
The
construction of retail buildings is expected to be supported by some large
projects in the pipeline. Large shopping centers such as Rocca al Mare,
Ülemiste and Kristriine are planning and executing extensions. Linstow
International, the owners and developers of the Ülemiste centre in Tallinn have
announced a EUR30 million extension for the centre, making it the largest mall
in Estonia.
Contact
M/s Sheela
90 Sate Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-997-4948
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