27 July 2007
BRUSSELS – In the first quarter of 2007, the government issued 6.9 percent fewer building permits for new housing than in the previous quarter.
This emerges from figures provided by the FOE (Federal Government for Economic Affairs), published in today’s newspaper De Tijd. The newspaper confirms that this has been the general trend.
The VCB (Flemish Building Confederation) expects the boom in the building market, now going on for 5 years, to cease this autumn. Since construction can only start after the issue of a building permit, the number of permits issued is an indicator that is ahead of the economic development. In 2006, for instance, there were already fewer building permits issued but the Belgian construction industry still experienced an exceptionally strong year.
Families apply for fewer building permits for apartments in particular. The single-family dwelling is still quite popular. But it is not only families who are building less. This also applies to offices, shops, storage companies and other commercial property, all of whom had fewer building permits.
There is one exception to this cooling down of the Belgian building sector as redevelopment is still booming.
[ Copyright Expatica news 2007]
Subject: Belgian news