Number of Homes Built Rises in Q1-Q3

Residential

The number of new homes built in the first three quarters of 2022 increased by 7.7% year-on-year, according to data published by the Central Statistical Office (KSH).

A total of 13,617 new homes were built in Q1-Q3 2022.

In the capital, the total number of dwellings built was 10% lower at 4,533. In all other categories of municipalities, the number of new dwellings increased: 22% more dwellings were delivered in towns of county rank, 7.7% more in other towns, and 36% more in villages than in the first three quarters of 2021.

The share of dwellings built by natural persons rose from 32% to 37%, while the share built by businesses fell from 67% to 62% compared to the first three quarters of 2021.

About 46% of new dwellings taken into use in new residential buildings are in detached houses, 42% in multi-dwelling buildings, and 9.2% in residents’ parks. Compared to the same period last year, this represents an increase of 8.5 percentage points for detached houses and 6.7 pp for residents’ parks, while for multi-dwelling buildings it represents a decrease of 15 pp.

The average floor area of dwellings taken into use increased by 6.7 sqm to 93.7 sqm compared to the first three quarters of 2021.

The share of dwellings built for owner use increased from 30% to 35%, while those built for sale decreased from 67% to 63% compared to the same period last year.

The number of dwellings to be built under construction permits and declarations was 25,984, approximately 16% more than a year earlier.

The increase is due to a doubling of housing construction sentiment in the capital (a 99% increase), while the other categories of municipalities show stagnation or a slight decrease: 1% more dwellings were authorized in the towns of county rank, 7.3% fewer in other towns and 2% fewer in villages than in the same period of the previous year. Builders made use of the simple declaration option in 50% of cases.

Compared to the same period in 2021, the number of new construction permits issued in the country is 11% lower, with a total of 11,101 residential buildings planned.

The number of planned non-residential buildings nationally was 3,703.

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