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The Czech Statistical Office (\u010cS\u00da), in its report indicated how Czech construction output decreased by 0.9 percent year-on-year. Petr Dufek, chief economist at Creditas Bank, assesses the new data from the construction sector by pointing out that the reasons for limited apartment and house construction remain the same: high material prices, expensive mortgages, and general uncertainty given also by high inflation.<\/p>\n\n\n\n
Construction output fell 0.9 percent year-on-year in October, but showed monthly growth of 1.2 percent. In October, building authorities issued 7.4 percent fewer building permits than a year earlier, but the indicative value grew 36.8 percent to 52.7 billion kronor. However, excluding eight buildings with budgets over 1 billion kronor, the indicative value would decrease by 5 percent.<\/p>\n\n\n\n
In addition, construction output, i.e., building construction decreased by 1.2 percent year-on-year, while works in civil engineering such as road construction, telecommunication networks fell by 0.2 percent.<\/p>\n\n\n\n
In January, construction output increased by 5.3 percent, in June by 0.9 percent while in other months, it declined, with the largest decline in April, by 7.1 percent. The revision of September’s data is considered normal and the next revision for the whole year is scheduled for February, according to \u010cS\u00da’s Petra Cu\u0159\u00ednov\u00e1. Construction of 3,012 apartments began in October, about 10 percent more than the previous year, while 3,570 apartments were completed, or about 7 percent more, experts attribute this growth to condominium renovations.<\/p>\n\n\n\n
The construction sector in the Czech Republic is maintained mainly by large public contracts, which increased 23 percent year-on-year. In the first three quarters of this year, 5,844 tenders were awarded, with a total value of 167.9 billion crowns, representing a 19.2 percent increase. According to CEEC Research’s analysis, governments have numerous projects ready and have resources of up to 400 billion kronor in local government accounts. These public contracts account for one-third of the volume of work in the construction market.<\/p>\n\n\n\n
The largest order of the year was announced in March by the Railways Administration for the construction of the ETCS road safety system on the line from the German border to Kralupe nad Vltavou, worth 12.8 billion crowns. Among the most significant contracts were the reconstruction and expansion of the central wastewater treatment plant in Prague (7.3 billion), the construction of the D3 highway from Prague through T\u00e1bor and \u010cesk\u00e9 Bud\u011bjovice to the border with Austria (6.2 billion), and the construction of the waste-to-energy plant at the M\u011bln\u00edk power plant (4.4 billion). Important contracts were also awarded in September, such as the construction of the multifunctional sports hall in Brno (4.4 billion) and the modernization of the regional hospital in Liberec (3.1 billion). Despite this, building construction encountered several difficulties due to high construction costs.<\/p>\n\n\n\n
Source : https:\/\/www.novinky.cz\/<\/p>\n\n\n\n
Image source: https:\/\/www.novinky.cz\/<\/p>\n\n\n\n
Graphic source: https:\/\/storyset.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Construction output declined year-on-year The Czech Statistical Office (\u010cS\u00da), in its report indicated how Czech construction output decreased by 0.9 percent year-on-year. Petr Dufek, chief economist at Creditas Bank, assesses…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[525],"tags":[557],"yst_prominent_words":[],"class_list":["post-9564","post","type-post","status-publish","format-standard","category-en","tag-building-industry"],"_links":{"self":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts\/9564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/comments?post=9564"}],"version-history":[{"count":2,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts\/9564\/revisions"}],"predecessor-version":[{"id":14464,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts\/9564\/revisions\/14464"}],"wp:attachment":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/media?parent=9564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/categories?post=9564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/tags?post=9564"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=9564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}