The Housing and Urban Agenda Ministry has released its fifty second quarterly bulletin, detailing a vibrant real estate market in the fourth quarter of two thousand twenty four. The report shows a total of one hundred ninety nine thousand and fifty one property transactions, reflecting an increase of eighteen point one percent compared to the same period last year. This is the highest number of transactions recorded in the fourth quarter over the past eighteen years.

The construction of newly built homes also reached significant levels, with one hundred thousand nine hundred and eighty finished properties in two thousand twenty four, a rise of thirteen point one percent from the previous year. In the final quarter alone, thirty one thousand one hundred and seventeen homes were completed, marking a remarkable thirty five point six percent increase compared to the fourth quarter of two thousand twenty three.

Moreover, the report indicates a dramatic rise in the number of initiated housing projects, with one hundred thirty six thousand one hundred and eighty seven new builds started throughout the year. This represents a twenty three point four percent increase from last year. The fourth quarter saw an even higher surge, with thirty nine thousand seven hundred and forty three homes started, an increase of forty point five percent year-on-year.

The bulletin also highlights a substantial growth in the construction of protected housing, which rose by sixty two point four percent with a total of fourteen thousand three hundred and seventy one units constructed. This was accompanied by a record increase in provisional qualifications for protected homes, with a notable one hundred eighty two point six percent boost in the fourth quarter compared to the previous year, showcasing the continued strong demand in the housing market.