BUILDING PERMITS - SECOND QUARTER 2023

In the second quarter of 2023, based on the permits for the residential sector, a quarterly decline of 5.2% is estimated in both the number of dwellings and the usable living area.

Non-residential construction grew by 8.9% compared to the previous quarter.

In the second quarter of 2023, the estimated number of dwellings in new residential buildings, net of seasonality, is approximately 13,550 units; The usable living area is just under 1.19 million square meters, while the non-residential area is about 2.71 million square meters.

In the quarter under review, the residential sector recorded, in trend terms, a significant decline in both the number of dwellings (-16.1%) and the usable living area (-13.5%).

The surface area of non-residential buildings, in the second quarter of the year, increased by 4.1%, compared to the same period of the previous year.

ANALYSIS

After two quarters of growth, in the second quarter of 2023 the residential sector recorded a cyclical decline that brought the number of homes to the lowest levels since the third quarter of 2020.

Non-residential space, on the other hand, increased after three quarters of decline.

Also in trend terms, in the second quarter of the year there was a decrease in the residential sector, the fourth in a row; On the contrary, the performance of the non-residential sector is positive.

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