The construction market
SWEDEN
New production of homes is expected to decrease in 2019 and 2020 but at the same time this creates room for long neglected renovation. All in all housing construction is expected to decline. Weaker growth will probably have a negative effect on construction of private premises while public building construction is promoted by a growing population and the need for new premises. Nonetheless investments in public premises are expected to fall this year and then rise again in 2020. All in all other building construction is expected to contract in 2019 and then level out in 2020. Civil engineering investments look like they might increase in both 2019 and 2020 and the higher ambitions laid out in the latest infrastructure proposition will have a positive effect.
NORWAY
Growth in Norway is expected accelerate even more this year. After housing construction investments declined somewhat in 2018 they are expected to stabilize in 2019 before they take off again in 2020, driven, among other things, by more jobs. Good economic development should also promote investments in building construction which is expected to grow at a good rate during 2019-2020. This is primarily driven by rising premise construction where an increase in industrial and public building construction investments is predicted. The forecast for civil engineering investments indicates a continued good rate of development during 2019-2020.
FINLAND
Finland’s economy is expected to slow in 2019. While the construction of single homes shows an upward tendency, apartment building construction is expected to drop in coming years. All in all housing construction is expected to remain on the same level during 2019 followed by a slight decline in 2020. Construction of private premises will mostly likely contract due to the weaker economic growth. At the same time public building construction appears to develop positively, which means other building construction is expected to grow in 2019 and level out in 2020. The forecast for civil engineering investments signals a slight decline in 2019 followed by them leveling out in 2020.
Housing
| 2019 | 2020 | 2021 | |
| Sweden |  | |  |
| Norway | |  | |
| Finland |  |  | |
Forecast for started-up housing investments, new and renovations
Source: Industrifakta
Other building construction
| 2019 | 2020 | 2021 | |
| Sweden | | | |
| Norway |  | | |
| Finland | | | |
Forecast for started-up other building construction investments, new and renovations (Industry, office/retail etc. and public premises)
Source: Industrifakta
Civil engineering
| 2019 | 2020 | 2021 | |
| Sweden | | | – |
| Norway | | | – |
| Finland | | | – |
Forecast for civil engineering investments
Source: Industrifakta
 | Worse forecast compared to the previous quarterly report |
 | Better forecast compared to the previous quarterly report |
 | Same forecast compared to the previous quarterly report |