Building permits issued by municipal authorities and regional administrations saw a 13.1% increase in the first two months of 2024 compared to the same period last year. The total value and area of these permits also recorded annual increases of 16.9% and 14.3%, respectively.

Specifically, according to the Statistical Service, 1,293 building permits were issued in January and February 2024, compared to 1,143 during the same period in 2023, marking a 13.1% rise.

Breaking down the data by project category, the number of permits for residential buildings in the first two months of 2024 increased by 8.6% compared to the same period in 2023. Permits for non-residential buildings rose by 16%, civil engineering projects by 48.3%, land division by 23.9%, and road construction by 17.6%.

The total value of these permits increased by 16.9%, which the data attribute to a 17.3% increase in the value of residential buildings, a 23.5% increase in the value of non-residential buildings, a 14.4% rise in the value of land division, and a significant 50.7% increase in the value of road construction. However, the value of civil engineering projects saw a decrease of 24.3%.

Moreover, the total area covered by these permits rose by 14.3% in January and February 2024. This increase is due to a 9.9% rise in the area of residential buildings, a 34.2% increase in the area of non-residential buildings, and a 16.1% rise in civil engineering projects. The number of residential units also saw a 13.4% increase during the same period.

Additionally, the Statistical Service announced that in February 2024 alone, 706 building permits were issued by municipal authorities and regional administrations. The total value of these permits reached €248.9 million, and the total area amounted to 202,600 square meters. These permits are expected to result in the construction of 919 residential units.

According to the Statistical Service, building permits are a significant indicator of future activity in the construction sector.