The number of building permits continues to fall over 12 months confirming the deep construction crisis

In January 2024, housing authorizations decrease and stand at 31.800 (-1% compared to December).

In total, "from February 2023 to January 2024, 369.300 housing units were authorized for construction, i.e. 113.000 fewer than in the previous twelve months (- 23,4%) and 19,9% ​​less than during the twelve months preceding the health crisis (March 2019 to February 2020). This is the lowest total since the start of the series in 2000,” explains the ministry.

The estimated number of construction sites started, which traditionally follows that of permits by a few months, would be "down" with 291.100 construction starts over 12 months, a drop of 24,6%.

The reduction in authorizations concerns all types of housing: pure individual (- 33,1%), grouped individual including subdivisions (- 15,5%), and collective (- 21,1%).

These statistics reflect a deep crisis in construction as in the entire housing sector, due to a fall in demand linked to the drastic tightening of borrowing conditions, the disinterest of investors in rental investment, considered less profitable, but also the increase in construction costs and land prices.

Illustrative image of the article via Depositphotos.com.