Renovation sector boosts subdued Finnish rental market

The Finnish equipment rental market is forecast to be flat this year and only returning to very modst growth in 2014, with falls in new construction activity offset by an expanding building renovation and repair market.

The latest rental market report by Finland’s state-owned research and certification body, VTT, and The Association of Finnish Technical Traders, estimates the total rental market in 2012 at €582 million, a 1% increase over 2011, with a 1% fall in new construction rental offset by a 5% increase in rentals in the renovation sector.

That trend is expected to continue this year, with a 4% fall in rentals related to new construction activity and a 3% increase in renovation activity producing a flat rental market.

Growth in 2014 is expected to reach 1%, again driven by activity in the renovation and repair sector, where rentals are expected to increase by 6%.