| World and foreign property news | 24.03.2010 |
International property / World and foreign property news / Housing construction declines in South Africa
Housing construction declines in South Africa
The total value of residential properties built over January has plummeted by 43%, year-on-year.
The overall value of homes, building permits for which were issued in January, has decreased by 12.1%, reports with reference to the data provided by Absa bank.
Over the specified period, the number of residential properties built and planned for construction has plummeted by 55.1% and 52.6%, respectively.
Experts do not expect a significant change in these dynamics in a short term.
| Type of Housing | Change in the number of properties (01.2009 - 01.2010), % | |
| Built | Planned for construction | |
| Homes (up to 80 sq. m.) | -34.5 | -73.7 |
| Homes (over 80 sq. m.) | -32.2 | -7.3 |
| Flats & Townhouses | -79.4 | -41.5 |
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