Far fewer housing construction permits issued in first quarter

While the construction sector in the Netherlands had a good first quarter of 2022 with a higher turnover, the number of permits for housing construction issued dropped significantly, Statistics Netherlands (CBS) reported. Permits were issued for the construction of some 16,600 homes – almost 13 percent less than a year earlier.

The number of construction permits issued is a good indicator of the number of homes that will be built in the near future. The average turnaround time from the permit being issued until the house is ready to live in is about two years.

The Netherlands faces a significant housing shortage, and the Cabinet and municipalities are trying to boost new construction. The stats office did not include housing conversions, for example, from office buildings to apartments, in the figures.

Construction turnover in the first quarter increased by 8.3 percent compared to a year earlier. The turnover for wood and other building materials rose by 11.5 percent.

Small construction companies with up to ten employees saw their turnover rise the most (+13.6 percent). This seems to be in line with the trend of more people taking out second mortgages to renovate their homes. 

Source link

Leave a Reply

Your email address will not be published.