Cubic volume of granted building permits decreased in May to July 2024 by 13 per cent year-on-year
Change
According to Statistics Finland, building permits for newbuilding were granted for a total of 7.8 million cubic metres between May and July 2024, which was 13 per cent less than one year earlier. Over the period, building projects totalling 6.1 million cubic metres were completed, which was 29 per cent down from one year earlier.
Key selections
- The cubic volume of building permits granted in May to July 2024 for residential buildings decreased by six per cent and the cubic volume for other than residential building construction by 15 per cent from one year ago.
- Building permits were granted for a total of 5,673 dwellings, which was six per cent fewer than one year earlier.
- In May to July 2024, the constant-price value or the volume of ongoing building production went down by 16 per cent year-on-year.
- The data for the latest 24 months of building projects started are estimated values, and they will become revised most during around 12 months from the first release.
Cubic volume covered by granted building permits was bigger than one year ago in seven regions
Measured by cubic volume, most building permits for newbuilding were granted in Uusimaa and Pirkanmaa in May to July 2024. In seven regions the cubic volume granted in May to July exceeded the figure of the previous year.
The cubic volume of completed building projects was highest in Uusimaa and Southwest Finland. In five regions the cubic volume of completed building projects grew from one year ago.
On the level of the whole country, 4,457 new dwellings were completed in building projects in May to July, which was 57 per cent fewer than in the corresponding period one year earlier. Among the regions, the highest numbers of dwellings were completed in Uusimaa, 2,127. Compared to the previous year, the number of completed new dwellings increased only in the region of Kymenlaakso.
Figures
Volume index of newbuilding 2015=100, trend, in 2001M01 to 2024M07
Granted building permits by region, m3, moving annual total, 2024M07
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