The number of dwellings whose construction started in November this year increased by 32.9% y/y to 16,107, while in monthly terms it fell by 18.3%, the Central Statistical Office (GUS) said.
Among developers, the number of dwellings with construction starts increased by 48% y-o-y to 10,901 units, while on a month-on-month basis it fell by 11.2%, the Office also reported.
“From January to November 2023, 174,700 dwellings were started, 8.3% less than a year ago. Developers started the construction of 103.4 thousand dwellings (4.6% less) and individual investors 66.8 thousand (15.8% less). Together, the share of these forms of construction amounted to 97.4% of the total number of dwellings. In other forms of construction, 4.6 thousand dwellings were started (2.8 thousand in the previous year), according to the GUS report.
At the end of November 2023, an estimated 808.2 thousand dwellings were under construction, 4.6% less than in the corresponding month of 2022, the Office also reported.
The number of dwellings for which building permits were issued or notifications with a construction project were made rose by 6.8% y/y to 20,745 in November, and fell by 13.9% on a monthly basis, according to Central Statistical Office (GUS).
Investors building for sale or rent obtained 14,071 permits last month (up 6% y/y and down 17.4% m/m), GUS also reported.
In the eleven months of 2023, permits were issued or construction notifications were made for 219,100 dwellings, 21.1% less than in the same period of 2022. Building permits for the largest number of dwellings were granted to developers (146 thousand, down 22.8% year-on-year) and individual investors (66.6 thousand, down 20.9%). In total, these forms of construction received permits or made notifications of construction with a building project for 97% of the total number of dwellings. In the other forms of construction, 6.5 thousand dwellings were recorded for which permits were granted or notifications of construction with a building project were made (last year: 4.3 thousand).
Source: GUS and ISBnews
