36.4% Fewer Building Permits Issued for New House Construction in Latvia
In Latvia, there has been a significant decline in the construction sector during the first nine months of this year. The number of building permits issued for the construction of single-family homes has decreased by 36.4% compared to the previous year, with a total of 993 permits issued.
A decrease is also observed in the construction of industrial production buildings and warehouses. This year, only 91 building permits have been issued for an area of 204,000 square meters, which is 40.5% fewer permits and 48.3% less area than last year.
In total, 2465 building permits have been issued this year, which is 30.2% less than in the corresponding period of the previous year. This indicates a significant decline in activity in the construction sector.
