GUS: More construction permits, fewer apartments delivered in 2014

The number of apartments with construction permits amounted to 156,752 and increased by 13.0 percent y/y in 2014. As of December, it increased by 14.5 percent compared to November but declined 0.3 y/y, the Central Statistical Office (GUS) informed. While there was a 13.0 percent growth in 2014, there was a noticeable decrease of 16.0 percent in 2013, according to GUS's estimates. Investors obtained permits to build as many as 77,489 rental or sale apartments in 2014 (a rise of 38.3 percent y/y). Regarding individual investors, the number of apartments with permits dropped by 2.7 percent y/y. What is more, there were 143,373 apartments delivered in 2014 (a decrease of 1.2 percent y/y). As many as 58,882 apartments were made available by developers (a growth of 4.3 percent y/y). Additionally, there were 148,122 apartment construction projects started in 2014, 16.3% more than in 2013, the office informed.