Ukrainian construction industry finally sees growth - December 2011

Between the peak recorded in 2007 and the trough of 2008-2010, the value of construction works carried out in Ukraine plunged by 70% in real terms. Residential construction was hardest hit by the crisis and, while the housing sector is yet to recover, overall market development in the country does give cause for hope that the worst has now passed for the Ukrainian construction industry.

Last year, the Ukrainian construction market continued the downward trend on which it has been on since 2008. Total construction output decreased by 5.4% in real terms and the construction of buildings declined at double the speed. On the other hand, the value of works related to the preparation of construction sites rose by 10% and the construction of roads and airports increased by 23%.