The construction market

SWEDEN

New production of homes is expected to decrease in 2019 and 2020. The forecast for other building construction is difficult to make but growth in employment and the population as well as an aging population are forces driving demand for premises. On top of that the need to modernize schools and healthcare facilities especially promotes investments in other building construction. All in all building construction investments are expected to contract in 2019 and then level out in 2020. Civil engineering investments look like they might increase during the forecast period and the new government will most likely strive to achieve the ambitions laid out in the latest infrastructure proposition.

NORWAY

Housing construction investments in Norway declined in 2018 and are expected to level out in 2019 before they turn up again in 2020. Other building construction is expected to have the opposite development, partly as a reaction to the increase in 2018 and partly because of interest hikes and a global recession. Civil engineering investments, however, are expected to grow at a good rate during the entire forecast period.

FINLAND

Housing investments increased in 2018 and are expected to grow in 2019 as well, which is largely due to higher income in households and a built-up need for investments. Investments are then expected to level off in 2020. Weaker growth in the economy is reflected in the forecasts for other building construction which is basically showing no growth in the period 2018-2020. The forecasts for civil engineering investments signal weak growth for the period 2018-2019 on the whole.

Housing

	2018	2019	2020
Sweden
Norway
Finland

Forecast for started-up housing investments, new and renovations
Source: Industrifakta

Other building construction

	2018	2019	2020
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

	2018	2019	2020
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