Residential construction moves up a gear

How much has the level of new residential construction grown recently? 140 pct – according to data published by the Polish Central Statistical Office (GUS). This was the increase in the number of apartments that developers received building permits for in March compared to the same month last year. This allows them to construct 8,723 apartments – the highest figure since April 2012 (9,634). Apartment builders have also recently started many new projects. March was the ninth month in a row that the activity of residential developers continued at a high level. In this month they started the construction of 6,000 new apartments – a 35.1 pct increase on March last year. Such high dynamics are partly the result of the low base. In March 2013 we were still faced with a low number of newly marketed projects. This was a consequence of the so-called ‘development act’ that had come into force ten months earlier. To avoid the impact of this legislation, developers ma