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

The total floor space of the new single dwelling house projects grew 58.2% year-on-year to 396,000 square meters (m2).

In 2017 the Latvian construction authorities also issued 113 permits for construction of new industrial buildings and storage facilities with a total floor space of 134,700 m2. The number of such permits increased by 14.1%, while the total floor space of these construction projects shrank by 22.2% year-on-year.

A total of 2,540 permits were issued for construction, reconstruction and renovation of single dwelling houses with a total floor space of 530,900 m2 in 2017. In comparison with 2016, the number of such permits rose by 37.6% and the total floor space of the projects grew by 47.8%.

Also, 202 permits were issued in 2017 for construction, reconstruction and renovation of industrial buildings and storage facilities with a total floor space of 335,900 m2. In comparison with 2016, the number of such permits grew 13.5%, and the projects' total floor space expanded by 14.4%.

During the fourth quarter of 2017, the construction authorities issued 536 permits for construction, reconstruction and renovation of single dwelling houses with a total floor space of 123,400 m2. Most of these permits, or 421, were issued for construction of new houses with the total floor space of 94,300 m2.

The construction authorities also issued 54 permits for construction, reconstruction and renovation of industrial buildings and storage facilities with a total floor space of 74,100 m2 in the last quarter of 2017, including 31 permits for new projects with the total floor space of 30,200 m2.