Residential construction1 in January 2020

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In January 2020 there were more dwellings completed than the year before. The number of dwellings in which construction has begun also increased, whereas the number of dwellings for which permits have been granted or which have been registered with a construction project decreased.

According to the preliminary data, 17.4 thous. dwellings were completed in January 2020, i.e. by 0.5% more than a year ago. Developers2 completed 10.6 thous. dwellings (0.8% less than in the corresponding month of 2019), whereas private investors2 completed 6.4 thous. dwellings, i.e. by 2.6% more than in 2019. Within these forms of construction, 98.0% of a total number of completed dwellings was built. More dwellings than a year ago were completed within cooperative construction (248 compared to 81 dwellings); in other forms of construction (municipal, public building society and company construction) 105 dwellings were completed in total (compared to 263 in January of the previous year).

Total useful floor area of dwellings completed in January 2020 amounted to 1.6 m. sq m, i.e. by 3.3% more than in the corresponding month of the previous year. Compared to the January 2019 the average useful floor area of 1 dwelling increased by 2.6 sq m to the level of 92.9 sq m.

1 Reported data – subject to change upon developing quarterly reports.

2 Every time developers are mentioned in the news release, it means construction intended for sale or rent, that is realised by various investors with the purpose of making a profit, whereas if private investors are mentioned, it means private construction, that is realised for the use of the investor.

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