Commentary to the data published by the CSO - residential housing construction in September 2020
22.10.2020
In accordance with the data published by the Central Statistical Office, 20.7 thousand flats were completed in September of the current year – that is an increase by 21.9% in relation to September 2019. The construction of 26.2 thousand flats was started in the same month – an increase of 21.6% in comparison to September of the previous year. 156.6 thousand flats were completed between January and September of the year, i.e. a number larger by 7.4% in comparison to the same period of 2019.
The data published by the CSO on the effects on housing construction confirm that the housing sector has quickly returned to growth after the initial issues caused by the COVID-19 pandemic.
Over 207 thousand flats were completed in 2019, which was the best result since 1980 and the third result in Europe (in relation to the number of citizens). With respect to the total area of the completed flats, the previous year was a record year since the beginning of measured data. This year’s great results indicate that in spite of the COVID-19 pandemic, the housing sector is doing considerably better than all other segments of the economy.
If the situation on the construction market remains stable, 2020 will bring further record values in respect of the number and the usable area of the completed flats and houses. Estimates show that approximately 220 thousand new houses will be built. The newly introduced and pending legislative changes will also contribute to the development of housing. These changes include, among others, simplifying the investment and construction process as well as a package of financial and legislative solutions stimulating the development of housing available for people with low and medium income (the so-called housing package).