Building permits issued in Q4’13 decline 12.5% QoQ

The number of new building permits issued in Q4’13 decreased 12.5% to 2 183 compared to the previous quarter and 9.8% compared to Q4’12. The residential building permits declined 12% QoQ (up 4% YoY) to 1 032, while total built-up area in them decreased 9.1% QoQ to 444.6k sq. m. Permits for other buildings fell by 12% QoQ (down 19.1% YoY) to 1 115, while built-up area was up 6.7% QoQ to 592.3k sq. m. The administrative and office building permits dropped 35.7% QoQ (down 25% YoY) to 36 buildings with total built-up area of 41.1k sq. m. or 25.9% less than in the previous quarter.