Investments by Estonian businesses in capital assets have grown for the second quarter in a row, year on year, writes Tõnu Toompark in his adaur blog. Real estate investments (including land, buildings, facilities construction, renovation and purchase costs) have moved into growth for the first time in three years, writes Tõnu.
According to Estonian statistics office data, the first quarter of 2011 saw total investment in fixed assets stand at 490 million Euros, which represents a 50 per cent growth year-on-year.
On the other hand, business investment in buildings, acquisition of land, reconstruction and the construction industry remained at the same level, 108 million Euros, as one year previously.
Real estate investments constitute a mere 22 per cent of all business investments, compared with the “good times” of 2003-2009 when 50-60 per cent of businesses’ all capital asset investments was real estate investments, writes Tõnu.
The original article (in Estonian) can be viewed here.