Number of apartments completed fell 2% y/y and with construction starts rose 39.4% y/y in August

by   CIJ News iDesk III
2023-09-21   11:27

The number of apartments completed in August this year fell by 2% y/y to 18,312, while on a monthly basis it rose by 26.5%, the Central Statistical Office (GUS) reported.

Developers completed 12,708 apartments last month, up 7.8% y/y. On a monthly basis, there was a 36.7% increase, the GUS also reported.

According to preliminary data, in January-August 2023, 145,000 housing units were put into operation, 0.2% less than in the same period of 2022. Developers put into operation 86,700 housing units - 1.8% more than a year ago, while individual investors put into operation 55,700 housing units, 4.4% less. Under these forms of construction, a total of 98.2% of the total newly completed housing units were built. In the other forms of construction, i.e. cooperative, communal, social rental and company construction, a total of 2.6 thousand housing units were completed (compared to 1.9 thousand a year ago).

The usable area of completed housing units amounted to 13.3 million square meters, 3% less than a year ago, and the average usable area of 1 apartment reached 91.9 square meters, the Authority also reported.

GUS: The number of apartments with construction starts rose 39.4% y/y in August

The number of apartments whose construction began in August this year increased by 39.4% y/y to 17,999 , while on a monthly basis it rose by 11.1%, the Central Statistical Office (GUS) reported.

The group of developers saw an increase in the number of housing units whose construction was started, up 107.4% y/y to 10,781 units, and a 16.4% increase on a monthly basis, the Office also reported.

In January-August 2023, construction began on 119,800 housing units, 19.5% less than a year ago. Developers started construction of 68 thousand housing units (20.1% less), and individual investors 48.9 thousand (20.5% less). In total, the share of these forms of construction amounted to 97.6% of the total number of housing units. In other forms of construction, 2.9 thousand housing units were started (2.3 thousand in the previous year).

At the end of August 2023, an estimated 807.9 thousand housing units were under construction, 7.7% less than in the same month of 2022, the Authority also reported.

Source: GUS and ISBnews