Analytics, Construction, Good for Business, Latvia, Real Estate

The total floor space of the new dwelling house projects expanded 37.2% year-on-year to 165,600 square meters (m2).

During the first half of 2017 the Latvian construction authorities also issued 34 permits for construction of new industrial buildings and storage facilities with a total floor space of 31,600 m2. The number of such permits dropped by 46% from the first half of 2016, while the total floor space of these construction projects declined twice.

According to CSB data, a total of 1,103 permits were issued for construction, reconstruction and renovation of single dwelling houses with a total floor space of 228,00 m2 in January-June 2017. In comparison with the first six months of last year, the number of such permits rose by 27.5% and the total floor space of the projects grew by 38.9%.

Also, 67 permits were issued in the first six months of 2017 for construction, reconstruction and renovation of industrial buildings and storage facilities with a total floor space of 92,900 m2. In comparison with the first half of 2016, the number of such permits declined 37.4%, and the projects' total floor space contracted 24%.

In 2016, Latvian construction authorities issued 1,329 permits for construction of new single dwelling houses, which was a 4.1% drop from a year before. The total floor space of the new single dwelling house projects contracted by 11.2% year-on-year to 250,300 m2.