New figures from the CSO show that the number of planning permissions granted for apartments fell by almost 39% last year when compared to 2023.
The data from the Central Statistics Office shows approvals for houses was down 2.7% last year.
The total number of new homes approved annually fell by 21.4% in 2024 compared to an increase of 20.6% in 2023.
The information is important as it gives an indication of future building activity after housing completions fell last year and missed the Government’s target.
Today’s CSO figures reveal a significant fall in planning permissions for apartments in the capital with a drop of 55.7% last year across the four Dublin local authorities.
There was also a 46% fall in the number of Strategic Housing Developments dwelling units approved.
The figures also show a steep drop in the number of planning permissions granted in the last three months of last year with total number of dwellings approved down 38% compared with the same period in 2023.
Planning permissions granted for apartments units fell 52% in the fourth quarter of 2024 while house planning permissions fell by 21%.
“As a lead indicator of the delivery of housing, this is particularly concerning for Ireland to meet our annual requirement for new homes,” said David Howard, Director of Property Industry Ireland.
“This slowdown highlights the importance of extending the validity of existing permissions that are due to expire, addressing the key concerns for investment in apartments, including the review of Rent Pressure Zone Legislation, and the need for prompt implementation of the review of the National Planning Framework in local Development Plans to make more land available for new homes,” he added.
Article Source – Number of apartments granted planning permission down 39% last year – CSO – RTE