Finland Times

The volume of permission for construction of new building has been reduced by 14.2 percent from January to November last year compared to the corresponding period in 2011, according to the preliminary report of the Statistics of Finland.

The data on building and dwelling production released on Friday also said that the cubic volume covered by granted building permits down by over 8 per cent year-on-year in November

The building permits were granted for a total of 2.4 million cubic metres in November 2012, which is 8.2 percent lower compared to the corresponding period of the year 2011.

The report also showed that the cubic volume covered by permits for residential buildings grew by 3 per cent in November but the volume of the permission for non-residential buildings fell by 13.3 per cent from one year ago.

The volume of  the constant building price value or the volume of ongoing building production decreased by 12.5 percent in November 2012 than the November 2011.

The volume of residential building construction also decreased by 8.3 percent last year and non-residential building construction decreased by 16.6 percent last year compared to the previous year.