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Monday, April 22, 2024
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Montenegro’s building sector in focus: Examining construction permits and operations in Q4 2023

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In the fourth quarter of 2023, Montenegro issued 96 construction permits and work notifications, according to data from Monstat.

This represents a decrease of five permits compared to the third quarter and 18 fewer compared to the same period in 2022.

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Out of the total number of issued construction permits and work notifications, 48 are related to individuals, while 48 are related to legal entities.

When considering the total number of apartments and their area, based on the issued work notifications in the fourth quarter of 2023, the construction of 736 apartments is projected, with a total area of 46,827 m².

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As explained by Monstat, the data encompass the number of issued construction permits, as well as the number and area of apartments in buildings for which construction permits and work notifications have been issued. The data source is the Ministry of Spatial Planning, Urbanism, and State Property.

Recently, the Statistical Office also released data on the value of completed construction works, which amounted to approximately 174.06 million EUR in the fourth quarter, showing a 3.1% decrease compared to the same period in 2022.

In comparison to the third quarter of the previous year, the value of completed works increased by 10.8%.

Effective working hours achieved on construction sites in the fourth quarter were 3.7% lower compared to the fourth quarter of 2022, while they were 3.3% higher compared to the third quarter of 2023.

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