Preliminary data from Statistics Sweden (SCB) indicates a significant decrease in the construction rate of new residential apartments during the first quarter of 2023. Approximately 8,300 new housing units were initiated, marking a 50% decline compared to the same period in 2022 when 16,675 apartments were started.
Of the newly initiated housing units, 6,400 were in multi-family buildings, reflecting a 52% decrease from 2022. Construction of single-family houses also declined, with approximately 1,900 housing units initiated during the quarter, representing a decrease of around 44% compared to the same period last year. Additionally, approximately 550 apartments were added through renovation projects, compared to 850 units in the first quarter of 2022.
To facilitate year-on-year comparisons, the figures for 2023 have been adjusted by 12% for new construction and 63% for renovation, representing the average lag for the corresponding period in the previous year.
It is worth noting that due to reporting delays from municipalities, the data for the past year is underestimated in the preliminary statistics. The figures will be revised in future publications.