Cubic volume of granted building permits decreased in February to April 2024 by 5 per cent year-on-year

release 18/06/2024 | Building and dwelling production 2024, April

According to Statistics Finland, building permits for newbuilding were granted for a total of 7.8 million cubic metres between February and April 2024, which was five per cent less than one year earlier. The prolonged decrease in the cubic volume of granted building permits is now reflected in the low figures of completed building projects.

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During February to April 2024, building projects totalling 5.6 million cubic metres were completed, 41 per cent down from one year earlier.
The cubic volume of permits granted for residential buildings decreased by 29 per cent from one year back.
Building permits were granted for a total of 3,824 dwellings, which was 32 per cent fewer than one year earlier.
The constant-price value or the volume of ongoing building production decreased by 19 per cent year-on-year.

Cubic volume covered by granted building permits was bigger than one year ago in 12 regions

In February to April 2024, the cubic volume of building permits granted for newbuilding was highest in Uusimaa and Southwest Finland. In 12 regions the cubic volume granted in February to April exceeded that of the previous year.

Measured by cubic volume, most building projects were completed between February and April in Uusimaa and Pirkanmaa. Compared to the cubic volume one year earlier, only building projects completed in Satakunta increased.

On the level of the whole country, a total of 5,244 new dwellings were completed in building projects in February to April. Among the regions, most dwellings were completed in Uusimaa, 2,668. The number of completed new dwellings grew only in the region of Åland compared to the previous year.