Cubic volume of granted building permits fell by 37 per cent year-on-year during November 2023 to January 2024
According to Statistics Finland, building permits for newbuilding were granted for a total of 4.8 million cubic metres between November 2023 and January 2024, which was 37 per cent less than one year earlier. Over the same period, building projects totalling 7.1 million cubic metres were completed, 43 per cent down from one year earlier.
Key selections
- The cubic volume of building permits granted for residential buildings in the November 2023 to January 2024 period was the lowest in the history of the statistics. The cubic volume decreased by 44 per cent from one year back.
- Building permits were granted for 3,222 dwellings between November 2023 and January 2024, which was 52 per cent fewer than one year earlier.
- Measured by cubic volume, 33 per cent fewer residential building projects were completed in the November 2023 to January 2024 period than one year before.
- Between November 2023 and January 2024, the constant-price value or the volume of ongoing building production went down by 21 per cent year-on-year.
Cubic volume covered by granted building permits was bigger than a year ago in four regions
In November 2023 to January 2024, the cubic volume of building permits granted for newbuilding was highest in Uusimaa, North Ostrobothnia and Pirkanmaa. During November to January, the cubic volume granted exceeded that of the previous year in the regions of Kymenlaakso, Central Ostrobothnia, Päijät-Häme and North Savo.
Measured by cubic volume, most building projects were completed in Uusimaa, North Ostrobothnia and Pirkanmaa between November 2023 and January 2024. Compared to the cubic volume one year earlier, only building projects completed in Åland increased.
On the level of the whole country, a total of 8,360 new dwellings were completed in building projects. Among the regions, most dwellings were completed in Uusimaa, 4,407. The number of dwellings in completed building projects grew only in the regions of Åland and Kanta-Häme compared to the previous year.
Figures
Volume index of newbuilding 2015=100, trend, 2001M01-2024M01
Granted building permits by region, m3, moving annual total, 2024M01
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