Building Plans Approved National Summary JUNE 2022

The number of SQM approved for private sector building construction increased by 11.3 percent y-y in June 2022 to 1,291,120 sqm. Residential approvals for new housing increased by 29 percent, with a 5.2 percent increase reported in home renovations. The non-residential market declined by 15 percent, with a moderate 0.3 percent contraction in the renovations of other buildings. Demand in the industrial market is showing signs of cooling down, as approvals declined by 24 percent y-y in June, while the depressed conditions continue in the retail and office market, down 35 percent and 44 percent respectively.