29 dec 2023 om 05:08
While construction will have shown a growth of 3 percent in 2023, the sector will shrink by 2.5 percent in 2024. According to ING Research, fewer building permits are being issued remains the biggest problem.
Approximately 56,000 building permits were issued in 2023, which is 13 percent less than in 2022. This is mainly due to the shortage of building land and delays due to complicated legal procedures.
New residential areas also often cannot be immediately connected to the electricity network. In many cases this leads to delays. In addition, many major construction projects are postponed due to the nitrogen measures.
This year, approximately 73,000 new homes were built. Although fewer permits have been issued, this will not immediately lead to a decrease in the number of new-build homes in 2023. Since it takes a long time for a home or neighborhood to be completed, we will only notice in a year and a half that fewer new homes are being built.
As the number of building permits issued started to decline in the second half of 2021, ING Research expects that fewer new-build homes will come onto the market in early 2024. The bank’s economists assume 65,000 homes.
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2023-12-29 04:08:29
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