If the pace of new construction of single-family houses and apartment buildings during the first three months of the year were to continue during the rest of the year, it could mean an increase of 10 percent in 2021 compared with 2020 in the Nordic region as a whole.

However, Navet Analytics' forecast is more pessimistic and rather signals a horizontal development.

The differences between the countries' developments are relatively small in terms of the annual forecast, but in this context Finland is expected to have the weakest development in comparison with Sweden, Denmark and Norway. The strongest outcomes during the first quarter of the year are reported in Denmark and Sweden, where the annual rate of investments shows an increase of 20 percent each.