2024.09.09
Turnaround in the construction market?
During the second quarter of this year, the market for new housing production in multi-family buildings turned around. Construction of new homes began at an increasing rate and increased by 22 percent in the second quarter, compared to the corresponding quarter in 2023. This is shown by new statistics from Statistics Sweden.
This caused the half-year figures to show a cautious turnaround in the number of apartment construction starts in apartment buildings. These show a cautious turnaround in the first half of 2024. Approximately 16,650 homes began construction in the first half of 2024, according to SBC's statistics. This is an increase of approximately 12 percent compared to the same period in 2023, when 14,821 apartments were started. It should be noted that compared to the first half of 2022, however, this is a decline of a full 52 percent.
Number of apartments started during the first half of 1975–2024
Source: Statistics Sweden
Single-family homes are still declining
Of the apartments started during the first half of the year, approximately 2,500 are in single-family homes, which is 31 percent fewer than during the same period in 2023.
Last twelve months: 30,000 homes
In the past twelve months, 30,000 housing starts have now been started, which is slightly up from a low of 28,000 at the end of 2023. It is the construction of apartment buildings that has increased, while the annual rate for single-family homes continues to fall and is now the lowest since the late 1990s.
