Planning permission tumbles 7.9%

 In News, Real Estate, Urban Rehabilitation

The amount of building projects granted planning permission fell 7.9% in the second quarter of 2022.

According to Portugal’s national statistics institute (INE), 6,200 buildings received planning permission in Q2, an increase of 2.9% like-for-like on 2019.
The INE said projects for 6,200 buildings were given planning permission, -7.9% on the same period last year (+1.6% in Q1 of 2022) and +2.9% in comparison to the first quarter of 2019.
The number of licences for new build fell 6.7% (+5.3% in Q1 of 2022), corresponding to an increase of 9.9% on Q2, 2019, according to INE data.
Planning permission for refurbishment of existing building stock was down 9.5% (-8.6% in Q1, 2022), which was a decrease of 14.8% on the second quarter of 2019.
It is estimated that 3,600 buildings were completed in Q2, 2022, down 4.9% like-for-like (-0.5% in Q 1 2022) and up 7.0% on Q2, 2019.
When compared with the previous quarter, the numbers show a fall of 10% building licences (+21.8% in Q1 of 2022), while the amount of buildings completed fell 5-8%. (-3.1% in Q1 of 2022)