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Tuesday 28.02.2017 | Name days: Skaidrīte, Justs, Skaidra
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Construction costs in Latvia down 19%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAs compared to the corresponding period of 2015, construction production volume declined by 19 % in Q1 2016. Construction production at current prices accounted for 203.4 million euros.

Construction of buildings went down by 7.9 %, of which construction of residential buildings dropped by 25.1 % and construction of non-residential buildings – by 0.7 %. Due to the decrease of 74.8 % in volume of bridges, elevated highways, and tunnels constructed, of 27.2 % in construction of harbours, waterways, dams and other waterworks, of 25.7 % in construction of highways, streets and roads, airfield runways, and railways, as well as of 20.3 % in construction of pipelines, communication and electricity lines, construction of civil engineering structures diminished by 38.7 %. Building of complex constructions on industrial sites grew by 63.6 % and construction of local pipelines and cables – by 48.7 %, according to the latest data of the Central Statistical Bureau of Latvia.

Compared to the previous quarter, construction volume dropped by 7.1 % in Q1 2016 because of the reduction in construction of civil engineering structures of 35 %.

In Q1 2016, 369 building permits were issued (the term permits granted in construction statistics indicates the number of records in a building permit regarding compliance with the requirements for initiation of construction) for construction, capital repair, reconstruction, and restoration of single-dwelling buildings with total floor space of 70.7 thousand m2. Out of the total number of building permits granted, 251 permits were issued for construction of new buildings with the intended floor space of 49.2 thousand m2.

56 building permits were granted for construction of industrial buildings and warehouses with the intended floor space of 61.1 thousand m2. The largest share of building permits issued for the construction of industrial buildings and warehouses was granted for new construction – 31 permits and 20.5 thousand m2 of intended floor space.

Ref: 102.109.109.5782


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