The number of apartments completed in September this year fell 24.7% y/y to 16,338, while on a monthly basis it fell 10.8%, the Central Statistical Office (GUS) reported.
Developers completed 10,469 apartments last month, down 27.4% y/y. On a monthly basis, there was a 17.6% drop, GUS also reported.
According to preliminary data, 161.3 thousand housing units were put into operation in January-September 2023, 3.4% less than in the same period of 2022. Developers put into operation 97.2 thousand housing units – 2.4% less than a year ago, while individual investors put into operation 61 thousand housing units, 6.5% less. A total of 98.1% of the total newly completed housing units were built under these forms of construction. In the other forms of construction, i.e. cooperative, communal, social rental and company construction, a total of 3.1 thousand housing units were completed (compared to 2.2 thousand a year ago).
The usable area of completed apartments totaled 14.8 million sqm, down 5.4% from a year ago, and the average usable area of 1 apartment reached 91.6 sqm, GUS also reported.
The number of housing construction permits rose 4.2% y/y in September.
The number of apartments for which building permits were issued or notifications with a construction project were made rose 4.2% y/y to 23,171 in September, and rose 15.8% month-on-month, the Central Statistical Office (GUS) reported.
Investors building for sale or rent obtained 16,311 permits last month (up 8.6% y/y and 27.9% m/m), GUS also reported.
In the three quarters of 2023, permits were issued or construction notifications were made for 174,300 housing units, 26.6% less than in the same period of 2022. Permits for the construction of the largest number of housing units were obtained by developers (114.8 thousand, down 29% year-on-year) and individual investors (54.3 thousand, down 24.8%). In total, these forms of construction received permits or made notifications of construction with a building project for 97% of the total number of housing units. Other forms of construction recorded 5.2 thousand housing units for which permits were issued or notifications were made for construction with a construction project (last year, 3.5 thousand).
Source: GUS and ISBnews
