Cubic volume of building permits granted decreased in October to December 2023 by 27 per cent year-on-year
According to Statistics Finland, building permits for newbuilding were granted in October to December 2023 for a total of 5.5 million cubic metres, which was 27 per cent less than one year ago. Over the same period, building projects totalling 8.4 million cubic metres were completed, 32 per cent down from one year earlier.
Key selections
- In October to December 2023, building permits were granted for a total of 4,718 dwellings, which was 35 per cent lower than one year earlier.
- The cubic volume covered by granted building permits decreased in all main purpose of use categories in October to December and the cubic volume was one of the lowest figures throughout the 2000s.
- Measured by cubic volume, 24 per cent fewer residential buildings were completed in October to December 2023 than one year earlier.
- In October to December, the constant-price value or the volume of ongoing building production decreased by 21 per cent year-on-year.
Cubic volume covered by granted building permits was in seven regions bigger than a year ago
In October to December 2023, the cubic volume of building permits granted for newbuilding was highest in Uusimaa, North Ostrobothnia and Pirkanmaa. During October to December 2023, the cubic volume granted exceeded that of one year ago in the regions of Kymenlaakso, North Savo, Central Ostrobothnia, Päijät-Häme, Åland, Pirkanmaa and North Karelia.
Measured by cubic volume, most building projects were completed in Uusimaa, North Ostrobothnia and Pirkanmaa in October to December 2023. The growth was biggest in construction projects completed in Åland, Kainuu and North Ostrobothnia.
On the level of the whole country, a total of 9,632 new dwellings were completed in building projects. Among the regions, most dwellings were completed in Uusimaa, 5,396. The growth in the number of dwellings in completed building projects was highest in the regions of Åland and Kanta-Häme compared to one year ago.
Figures
Volume index of newbuilding 2015=100, trend, 2001M01-2023M12
Granted building permits by region, m3, moving annual total, 2023M12
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