Housing Construction Surges with Over 100% Increase in Projects

The Central Statistical Office (GUS) released data on housing construction from January to February 2024, revealing a significant rise in construction activity. Construction starts saw a notable boost, with developers initiating over twice as many projects compared to the previous year.

During the two-month period, nearly 42,000 construction permits were issued, marking a 32.7% increase year-on-year. Developers led the way, obtaining the majority of permits. Construction commencements mirrored this trend, with developers initiating projects covering over 26,000 apartments, a remarkable 111% surge from last year.

However, despite the surge in construction starts, the number of apartments completed saw a decline of 11% compared to the same period in 2023. This decline was attributed to both developers and individual investors.

Source: strefainwestorow.pl