The annual building permits data are business cycle indicators providing information on the development of granted building permits in one year. Builders apply for building permits and local building administrations issue them normally before the beginning of the construction work. Therefore building permits are considered as a leading indicator of the creation of new residential buildings. The data cover the permits for all types of residential buildings (including residences for communities).
The data are expressed in square meters of usable floor area per 1000 inhabitants.