09.09.2022
The delay or freeze of some projects is evidenced by the stagnant construction industry amid repeated increases and delays in the supply of materials.
The construction sector has sounded the alarm several times, warning that the risk of non-performance of existing contracts and the suspension of work is now visible.
Property sales may continue to improve and home ownership is high on buyers’ priorities, but building permits were negative in the first half of the year.
In particular, according to the Statistical Service, 3,898 building permits were issued between January and June 2022, compared to 3,990 in the corresponding period of 2021, representing a decrease of 2.3%.
In fact, the number of residential units expected to be built is 5,143 from 5,412 in the first half of 2021, down 5%.
Shrinking Housing Projects
Specifically, residential units that included single-family homes decreased by 9.6% to 1,605 from 1,775 in the first half of 2021, and building permits for semi-detached houses that were formed in the first half of 2022 decreased by 9. 6%. 6% up 468 compared to 498 in the same period last year.
Residential units classified as residential multi-family buildings recorded a 3% decrease, reaching 2,818 units in the first half of the year compared to 2,904 units in the same period in 2021.
In contrast, mixed multi-family housing experienced a 7.2% increase, with the number of residential units reaching 252 between January and June 2022, compared to 235 in the corresponding period of 2021.
Road construction in full swing
Overall, the number of housing permits reached 2,674 in the first half of 2022 from 2,850, down 6.2%. At the same time, fees are charged for projects related to the construction of roads, the number of permits increased by 34.8% to 93 from 69 in the first half of 2021.
The area of residential buildings licensed in the first half of the year decreased by 10.9% (925,495) m2, and their value fell by 11.6% to €957.2 million compared to €1 billion in the first half of last year.
