Scope of completed construction growing

The State Statistics Service of Ukraine has published data on the progress of construction in 2013. 

According to the State Statistics, scope of completed construction grew significantly in December 2013. Index of construction products reached 119.9% in comparison with November. Growth occurred both in construction of buildings and engineering facilities. The housing construction grew to 128.4%,121.1% non-residential buildings, 116.5% engineering facilities, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

The cost of construction reached 58.9 billion UAH in 2013. Of them, construction of buildings - 27.8 billion UAH (residential -10.2 billion UAH, non-residential - 17.6 billion UAH), engineering facilities - 31 billion UAH.

Despite the fact that in 2013 construction in general showed decline, which slowed down towards the end of the year, housing builders showed positive results. The index was 106.6%.

Real estate market experts say in 2013 construction companies increasingly attempted to complete unfinished construction projects that were started before the economic crisis of 2008-2009. Experts say that as a result of this the residential real estate market will get a significant number of additional apartments. That, in turn, will result in lower prices for apartments. At the same time, over the 11 months of 2013, the price index for building and assembly work reached 105.8%. The prices grew the most  in housing construction, to 106.7%. This situation, according to experts, can damage profitability of construction companies.

Estimating the scope of construction in the regions, experts note that, as in previous years, a significant proportion of housing is being built in Kiev which accounts for 40% of completed construction projects. Second place goes to Odessa region, where the cost of construction amounted to 716.3 million UAH, which accounts for 7% of the total in the country.