Infographics: Construction sector in Belarus 2017More information on this topic is presented in the PMR report:
- June 2017
- Delivery: PDF / online access
- Forecasts: 2017-2022
- Go to shop »
- The sharp fall in residential construction last year largely reflects the 6% contraction in real disposable income in 2015, followed by a more than 7% reduction in 2016.
- The total floor area of new homes activated throughout the country in 2016 dropped 15% year-on-year.
- The average rural saturation level exceeds 36 m², and during periods of weak economic growth rural population tend, therefore, to reduce their residential expansion plans significantly, as there is no urgent need for additional housing.
- The rural housing space stock was in the 75-77 million m² range between 2011 and 2016, even though 7.65 million m² of new rural housing was commissioned over the period.
- The national currency lost almost 53% against the National Bank’s euro-dollar-RUB basket in 2011 and 58% in 2012, instigating the sharp rise in the construction price index between 2011 and 2013.
- Collapse in construction activity and a more stable national currency have decisively contributed to a rapid deceleration in construction price indices over the last few years.
- In 2016 the nominal salary grew across the country by 7.5% on average, whereas in the construction industry it rose only by 1.4%.
More information on this topic is presented in the PMR report:
Construction sector Belarus 2017. Market analysis and development forecasts for 2017-2022