The share of investment in construction in Finland is 10% percent, making the industry a significant part of our national economy. In addition, buildings and property are some of our most valuable tangible assets, representing almost three quarters of our national property and comprising a total net value of over EUR 560 billion.
The development of the Finnish construction industry is extremely dependent on other clusters and their relative development. For example, building-, design-, and export technologies and general logistics are becoming increasingly important in the construction world. Furthermore, the industry is heavily tied to education and skills acquirement in the field.
The world recession caused a downturn in the construction industry in 2009 but the industry got back on track already in 2010 due to low interest level, people’s reliance on their economic well-being in the future, a growing demand for energy-efficient buildings and new, subsidized renovation projects. At the moment the construction industry is doing very well and it has recovered from the recession. The growth of the renovation sector has continued its steady way, with a 3 % rise within the industry from 2010. Its share is now almost half of all construction.