In the first quarter of 1996, a decrease was recorded
in building starts and completion compared with Q4 1995.
This emerges from data published today (Thursday) by the
Central Bureau of Statistics.
These figures indicate that in the first quarter,
building starts were down 1.75%, and the number of
apartments whose construction commenced reached 11,790,
compared to 12,000 in the preceding quarter. Compared to
the corresponding quarter last year, this amounts to a
42% drop in building starts.
In January - March, there was an 8% drop in building
completion, and the number of apartments reaching
completion stood at 12,020, compared to 13,100 in the
last quarter of 1995. Compared to the corresponding
quarter last year, this is a 44% increase. In private
construction, 8,800 apartments were completed in Q1
1996, down 20% compared to Q4 1995. In public
construction, 3,220 apartments reached completion.
At the end of March 1996, the inventory of apartments
under active construction amounted to 90.1 thousand, a 2%
decrease compared to 1995 (91.5 thousand apartments).