Housing. The Number of Completed Houses Drops by 43.8% by October

Between January and October only 56.650 houses being under construction have been finished. This number constitutes a decrease in comparison to the same period in 2012 (100.801 houses) of 43.8%, according to the data presented by the Ministry of Development and collected by Servimedia.

The number of finished houses supports the negative tendency in the last exercises which began in 2013. Taking into account the bunch of 2012 with 120.206 units, the dip was equal to 28,4% and it summarized the five consecutive years of decline. Since the maximum number noted down in 2007 (641.419  completed dwellings), the market witnessed reduction of 81%.

Out of all the houses finished in the first 10 months of the year, 99.2% (56.175) corresponds to the private developers and 0,8% (475) to the public administrations. With regard to 2012, the number of houses constructed by the private developers fell by 43.2%, and the number of the public ones by 75.8%.

If it comes to the private enterprise, 32.787 corresponded to corporate entities facing annual drop by 46,7%; 18.243 to legal persons and owners associations (-32,4%) and 3.903 to cooperatives (-47,5%). Moreover, there are 1.242 work completion permits of other type for private developers.

On the other hand, the value of the construction material implementation proceding from liquidation dipped by 42,2%, down to 7.048,6 million Euros.

Source: El Economista