Construction market

SWEDEN

New housing construction declined in 2019 and is expected to continue downward in 2020 to then level out in 2021. New other private building construction will probably be affected negatively by the economic downturn while public building construction is expected to increase in both 2020 and 2021. A growing and aging population is keeping the demand for new construction of public premises up. Added to that is the need to modernize in primarily schools and healthcare, which promotes renovation investments. All in all building construction investments are expected to remain on the same level as 2019 in both 2020 and 2021. Civil engineering investments are expected to grow during the forecast period.

NORWAY

Housing construction contracted in 2019 and is expected to level out in 2020 before it grows again in 2021. Other building construction is expected to increase in 2020 and 2021, primarily driven by private investments. Civil engineering investments are expected to grow at a good rate during the entire forecast period.

FINLAND

Housing construction is expected to decline in 2020 and 2021 but the market for housing renovations looks better. Weaker growth in the economy is reflected in the forecast for other building construction where a certain amount of growth is expected in 2020 only to level out in 2021. The forecasts for civil engineering investments signal a 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