In the first to third quarter of 2023, the construction of 27,304 flats started, i.e. 14.6 percent less year-on-year. According to the latest data from the Czech Statistical Office (ČSÚ), the decline was mainly due to the results of the second quarter. Since the beginning of the year, 25,957 flats have been completed, a year-on-year decrease of 3.5 percent. The development in individual quarters was then very uneven.
Almost one third fewer flats in detached houses were started from January to September than last year, and the trend was similar in all quarters. The number of flats started in apartment blocks also fell by 6.5 per cent year-on-year. However, growth was recorded in the first and third quarters.
While 10.4 per cent fewer dwellings were completed in the first quarter, the second quarter saw a 17.6 per cent year-on-year increase. In the third quarter, completions returned to a year-on-year decline, this time by 15.3 per cent. This year’s decline in housing completions occurred at a similar pace in both major categories. Year-over-year, 18 percent more apartments were completed in non-residential buildings, spaces not primarily intended for residential use. These include additions and extensions to offices, warehouses and restaurants. However, they can also serve, for example, as art studios. The largest number of completions took place in the Central Bohemia Region and Prague.
In September this year, the number of flats started increased by 24.6 per cent year-on-year to 3,127 flats. According to the ČSÚ, the increase is partly influenced by the comparison with last year, when the fewest flats started to be built in September out of the entire year 2022. The number of completed flats was almost 26 percent lower year-on-year this September. Building authorities issued 10.2 per cent fewer building permits year-on-year, but their indicative value rose by 11.2 per cent.
The ČSÚ data also show that construction output in the first to third quarters of this year fell by 1.5 percent year-on-year, driven mainly by civil engineering, which fell by 4.6 percent year-on-year. Output in civil engineering continued to stagnate year-on-year. In the first quarter, construction output declined at a slower rate of 1.2 per cent despite a high comparative base. Civil engineering construction contributed significantly to the decline, while civil engineering was in positive territory. In the second quarter, the year-on-year decline accelerated to three per cent, and the differences between the segments were not as pronounced, with both falling below last year’s level. In the third quarter, construction output was flat year-on-year, with both civil and structural engineering stagnating.
Source: ČSÚ and CTK
