Housing Construction
Commentary | Contents |
In 2003, expending of volume of housing construction continued and was fuelled especially by:
- continued development of interest rates on mortgages ;
- increasing the volume of credits granted from saving in building societies;
- an expected considerable increase in the value of the invested funds in housing
(see attached the comments on housing construction in 2003).
In 2003, construction of 36 496 dwellings was started (8.6% up y-o-y), (in the fourth quarter by 5.5%, the third quarter by 16.8%, the second quarter by 6.0 and the first quarter by 5,8%) y-o-y. The highest increase in the number of started dwellings was observed in family houses (3 591 dwellings up, which is by 26.3% more) and in all types of extensions in multi–dwelling buildings (438 dwellings up, which is by 23.7% more). Decreases were recorded for started dwellings in community care service homes and homes-boarding houses (43.6% or 786 dwellings down) and in non-residential buildings (4.7% or 58 dwellings down).
The number of completed dwellings was 27 127 (0.6% down y-o-y), (in the fourth quarter grew by 3.7% up, the third quarter by 22.0% up, the second quarter by 5.6% down and the first quarter by 23.2% down) y-o-y. The fall occurred in all categories of housing construction. The highest was in converted non-residential rooms (33.4% or 565 dwellings down), all types of extensions in multi-dwelling buildings (16.3% or 283 dwellings down) and family houses (15.9% or 471 dwellings down). The increase occurred in multi-dwelling buildings category (20.8% or 1 327 dwellings up), , and non-residential buildings (13.4% or 143 dwellings up).
The total number of dwellings under construction increased by 7.3% (9 523 dwellings up) y-o-y. The number increased almost in all types of housing construction. It only dropped slightly in community care service homes and homes-boarding houses (by 10.7%). The number of dwellings under construction increases in the long term, because the number of started dwellings is higher than the number of completed dwellings and also because it includes dwellings whose construction was suspended.
In 2003, modernization of 12 761 dwellings was completed (6.2% down y-o-y). At the same time modernization of 17 145 dwellings was started and modernization of 38 923 dwellings wasn´t completed.