Area of Buildings with Construction Permits Decreased by 18.9% in Q3

In the third quarter of 2024, compared to the same quarter of the previous year, the number of buildings for which construction permits were issued by municipalities decreased by 18.8%, the number of apartments by 17.0%, and the area by 18.9%.

The total area licensed for construction by municipalities in the third quarter of 2024 was 32.0 million m², with 17.0 million m² allocated for residential purposes, 8.2 million m² for non-residential purposes, and 6.8 million m² for common areas.

The highest share of the area, at 66.3%, belonged to buildings with two or more apartments, with 21.2 million m² designated for residential buildings with two or more apartments, followed by 2.5 million m² for industrial buildings and warehouses.

In the same quarter of 2024, while the number of occupancy permits issued by municipalities increased by 2.9% compared to the same quarter of the previous year, the number of apartments decreased by 3.1%, and the area decreased by 5.3%.

The total area of buildings that received occupancy permits in the third quarter of 2024 was 22.5 million m², with 12.4 million m² for residential use, 5.6 million m² for non-residential use, and 4.5 million m² for common areas.

The highest area share for occupancy permits was 68.2% for buildings with two or more apartments, totaling 15.3 million m² for residential buildings with two or more apartments, followed by 1.8 million m² for industrial buildings and warehouses.