Construction - May 2005

Seasonally adjusted construction output at constant prices was 1.3% up month-on-month . The trend increased by 0.9% month-on-month (see Table 3).





According to reported data construction output grew in May by 26.0% year-on-year at constant prices. This growth occurred, as expected, after preceding decreases reported in March and April 2005, which were affected by the switch of construction work to the category of basic VAT rate (since 1 May 2004). Most construction enterprises adjusted their invoicing so that they could make use of last months of 5% taxation and meet the terms and conditions of their contracts signed before.

According to model calculations by the CZSO, construction output rose in May by 4.8%.

The number of employees in construction enterprises with 20+ employed people rose by 4.5%. The average monthly wage of employees increased by 6.5% year-on-year and reached CZK 18 420, while the real wage increased by 5.1%. The average hourly wage increased by 3.7% and amounted to CZK 113.

The planning and building control authorities granted 13 038 building permits in May 2005 (of which 6 521 for new construction and 6 517 for renewals and enhancements). The approximate value of the constructions permitted in May reached CZK 29.1 billion (of which new constructions accounted for CZK 20.6 billion and renewals and enhancements for CZK 8.5 billion).

The planning and building control authorities permitted 3 676 dwellings to be constructed (an increase of 380 dwellings year-on-year), of which 2 996 dwellings in new construction (an increase of 378). The number of new dwellings to be obtained by renewals and enhancements is 680 (an increase of 2). The approximate value of the newly permitted dwellings in multi-dwelling buildings reached CZK 7.9 billion. The average acquisition value of a dwelling in a new residential building amounted to CZK 2.5 million, which translates into CZK 20.1 thousand per m2 of floor area in a dwelling whose average size is 126 m2. A dwelling 88.2 m2 in average size obtained by renewal or enhancement of an existing residential building comes to CZK 1.2 million (CZK 13.4 thousand per m2 of floor area).

Note
Contact: Josef Vlášek, phone (+420) 2740522192, e-mail: vlasek@gw.czso.cz
Data source: CZSO direct survey in enterprises; planning and building control authorities
End of data collection: 4 July 2005
End of data processing: 7 July 2005
Related publications: /1-ep-8
8201-03 Construction
8202-03 Building Permits Granted
The March data in Table 1 have been revised and are final; the data for April and May 2005 are preliminary and will be updated when data for July are released.
The data in Table 2 are final.