Volume index of newbuilding

The volume index of newbuilding describes changes in the value at constant prices of newbuilding in domestic building construction from the comparison period or the base year of the index. Newbuilding refers to the construction of new buildings and building extensions subject to building permits. Newbuilding is part of building construction, which in statistics is divided into newbuilding and renovation building. Newbuilding produces new space either as entirely new buildings or as extensions of existing buildings. Renovation building is done to existing buildings and continues to be divided into capital repairs and annual repairs in national accounts.