Reconstruction displaces new construction
Investments in construction projects stagnated in 2019. While investment in building construction declined, investment in civil engineering continued to increase. More investments were made in the renovation, while those in the new building declined.
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Overall, the construction industry barely moved in 2019. According to the provisional figures from the Federal Statistical Office ( BFS ), an increase in construction investments in civil engineering of 3.9 percent offset a decline in building construction of 0.9 percent.
There was a change from new buildings to renovations and expansions. Investments in new civil engineering buildings fell by 6.9 percent, while investments in conversions and expansions rose by 13.2 percent. In building construction, too, investments in renovations and extensions rose by 1.6 percent, while investments in new buildings fell by 2.0 percent.
This switch to renovations was particularly pronounced among public clients: Last year they invested 8.8 percent more in renovations and extensions and 7.2 percent less in new buildings. Private clients invested 2.2 percent more in conversions and expansions than in 2018, but 1.4 percent less in new buildings.
