Cubic volume of building permits granted decreased in January to March 2024 by 20 per cent year-on-year
According to Statistics Finland, building permits for newbuilding were granted for a total of 6.3 million cubic metres between January and March 2024, which was 20 per cent lower than one year earlier. The prolonged decline in the cubic volume of building permits granted and building projects started is reflected in the low figures for completed building projects.
Key selections
- During January to March 2024, building projects totalling 5.5 million cubic metres were completed, 42 per cent less than one year earlier.
- The cubic volume granted for residential buildings in January to March 2024 was still on a low level compared to one year ago. The cubic volume went down by 51 per cent over the period.
- Between January and March 2024, building permits were granted for 2,948 dwellings, which was 56 per cent fewer than one year earlier.
- Between January and March 2024, the constant-price value or the volume of ongoing building production went down by 20 per cent year-on-year.
Cubic volume covered by granted building permits was bigger than one year ago in nine regions
In January to March 2024, the cubic volume of building permits granted for newbuilding was highest in Uusimaa and Southwest Finland. In nine regions the cubic volume granted in January to March exceeded the figure of the previous year.
Measured by cubic volume, most building projects were completed between January and March in Uusimaa and Pirkanmaa. Compared to the cubic volume one year earlier, completed building projects increased only in South Savo.
On the level of the whole country, a total of 5,461 new dwellings were completed in building projects in January to March. Among the regions, most dwellings were completed in Uusimaa, 2,547. The number of completed new dwellings grew in the regions of Kainuu, Åland and Kanta-Häme compared to one year earlier.
Figures
Volume index of newbuilding 2015=100, trend, 2001M01-2024M03
Granted building permits by region, m3, moving annual total, 2024M03
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