One of the key problems of the domestic real estate market currently is the slow replacement of old residential property units by new ones which may lead to a shortage of quality housing in the longer term. In the first, second and third quarters of 2015, the number of newly built residential units fell by 9.5 percent year-on-year, while the number of building permits rose by 24 percent in the same period, signalling a favourable outlook.

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(Ministry for National Economy)