Published: 17 October 2019

EUR 1.3 billion used on renovating industrial and warehouse buildings

According to Statistics Finland, EUR 1.3 billion was spent on renovating industrial and warehouse buildings in 2018. Compared to the previous year, the value of industrial and warehouse building renovations grew by 16 per cent. Relative to the floor area, the renovation costs in industrial and warehouse buildings were EUR 15.5 per m².

In 2018, service buildings were renovated for EUR 1.6 billion, office buildings for EUR 1.1 billion and commercial buildings for EUR 650 million. The renovation costs of office buildings went up by 11.6 per cent and those of commercial buildings by 2.7 per cent. The renovation costs of service buildings decreased by 1.7 per cent from 2017.

The value of industrial and warehouse building renovations was last studied with a sample survey concerning the renovations in 2015. The renovation costs for 2016 and 2017 have been estimated using renovation and expansion permits granted for industrial and warehouse buildings. The realised costs for service buildings have been studied by an inquiry for 2016 and years 2017 to 2018 have been estimated based on data on granted renovation and expansion permits. Correspondingly, the renovation costs of commercial and office buildings were studied by an inquiry for 2017 and estimated based on granted renovation and expansion permits for 2018.

Renovation costs of buildings by purpose of use of the building, EUR million

Year Use of the building
  Industrial buildings and warehouses Commercial buildings Office buildings Public service buildings
2013 . . . 1,298
2014 . 669 910 1,223 1)
2015 919 668 1) 1,032 1) 1,229 1)
2016 1,030 1) 756 1) 1,140 1) 1,739
2017 1,125 1) 631 1,004 1,623 1)
2018 1,305 648 1) 1,120 1) 1,595 1)
1) Estimated based on renovation and expansion permits

Source: Renovation of buildings and apartments. Statistics Finland

Inquiries: Eetu Toivanen 029 551 3331, Liina Arhosalo 029 551 3612, rakennus.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

Publication in pdf-format (186.8 kB)

Tables

Appendix tables


Updated 17.10.2019

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovations of non-residential buildings 2018. Helsinki: Statistics Finland [referred: 28.1.2020].
Access method: http://www.stat.fi/til/kora/2018/02/kora_2018_02_2019-10-17_tie_001_en.html