Residential construction output in Ukraine grew 29% in October

According to the State Statistics Service of Ukraine, in October 2021, Ukrainian construction companies increased residential construction output by 29.6% y-o-y. Residential construction output grew by 19.6% in 10M.

The overall construction output fell by 14.2% in October y-o-y, but increased by 0.5% in 10M. Non-residential construction output rose by 7% in October y-o-y, but fell by 1% in 10M. Engineering construction output declined by 30.5% y-o-y and by 4% in 10M.

The share of new construction in the total construction output in January–October was 33.2%, repair 41.1%, reconstruction and technical re-equipment 25.7%.

The highest growth rates of completed construction projects in the period from January to October were recorded in Ternopil (52.2%), Cherkasy (28.5%) and Ivano-Frankivsk (15.2%) oblasts. Chernivtsi (-40.8%), Zakarpattia (-27.5%) and Kirovohrad (-28.5%) oblasts saw the most significant drop.

As reported earlier, housing developers are now benefiting from the demand deferred from last year, the lack of income-generating investment instruments and general inflation. This creates a yet greater motivation to invest in “square meters”.

In 2020, Ukrainian companies increased their construction output by 4% y-o-y. The sector’s performance improved due to the Big Construction program. The volume of construction totaled ₴199 billion.