The Number of Approved New Dwellings increased in Q4 2022
The NSO has issued its quarterly statistics on residential building permits. Overall, building permit statistics serve as a useful tool for understanding the state of the construction industry and predicting future trends. These numbers are essential for developers, investors, and policymakers alike, as they provide valuable information on the state of the market and where to direct resources in the future.
During the last quarter of 2022, 357 building permits were issued for a total of 2,064 new dwellings in Malta and Gozo. This represents a 33.2% increase in the number of approved new dwellings compared to the same quarter of the previous year. Furthermore, the number of approved new dwellings in Malta increased by 35.0%, while the number in Gozo increased by 26.5%.
It is also worth noting that apartments accounted for 68.7% of the total number of approved new dwellings. This is a significant increase from previous years, reflecting a growing trend towards apartment living.
Finally, the highest number of approved new dwellings (203) was registered in Marsaskala, indicating a high level of construction activity in this area.
The data shows that out of the 2,064 new dwellings approved, 1,417 were apartments, 343 were penthouses, 201 were maisonettes, 94 were terraced houses, and 9 were other residential units.
These statistics provide valuable insights into the state of the construction industry in Malta and Gozo. The significant increase in the number of approved new dwellings and the high number of apartment approvals suggest that there is a growing demand for new housing.
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Source of graphs: Malta National Statistics Office