Construction
Land prices during 2H of 2023 have rose at a lower phase compared to 1H of 2023
It appears that there has been a general deceleration in property price growth across all categories since 2019. In the second half of 2023, residential land prices increased by 2.8%, while commercial and industrial property prices grew by 1.8% and 1.7% respectively.
Overall, there was a 2.1% growth, indicating a continued trend of subdued growth compared to the double-digit growth seen prior to 2019.