Planning permissions for residential dwellings fell off a cliff last year with total approvals from local authorities dropping by 21%, according to new figures.
The CSO said that there were just 32,401 housing units approved in 2024, compared with 41,225 in 2023.
That large-scale decrease was driven by a massive decline in the number of apartments being approved for construction, dropping by 39%, from 21,487 in 2023 to just 13,194 in 2024.
The decline in developers’ appetite for building apartments has been well-flagged for some time, with massive inflation in the construction sector making large apartment complexes a much riskier investment for shareholders than previously.
However, the drop in planning permissions adds an additional headache for the Government, which has already faced criticism due to the State falling far short of meeting its own housing target of 40,000 new builds per annum.
Read the full details on Irish Examiner
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