Dwellings Repair & Maintenance investment
The Repair and Maintenance (R&M) of dwellings which is not capitalised as an investment in national accounts represents a significant demand for consulting engineering services. This text is an updated version of a 2015 text.
A major problem that the FIDIC-EFCA Survey must address is Repair and Maintenance (R&M). Construction R&M is not included in Construction New Build Gross Fixed Capital Formation (GFCF) but it creates a demand for consulting engineering services. The issue for the survey is to estimate the magnitude of the increase in New Build Construction GFCF that would result if all R&M for Construction is capitalised in National Accounts.
The challenge is to obtain accurate and up-to-date estimates of the GFCF for R&M (GRM) for Dwellings, for Other Buildings and for Structures as these investments create a demand for consulting engineering services. A Wiki item discusses an estimate for Dwellings R&M. The conclusion is that there appear to be relative few European Union Member States for which national accounts probably aim to include all Dwelling GRM. It is reasonable to assume that the EU average for GRM for Dwellings is 20% of the GFCF for New Build Construction.
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