REGINA — Statistics Canada reports the value of Saskatchewan's building permits increased by 59.4 per cent from December 2023 to December 2024 (seasonally adjusted), placing Saskatchewan second year-over- year among the provinces.
These figures follow last month's report, which placed Saskatchewan second among the provinces for both year-over-year and month-over-month growth in the value of building permits.
Regina and Saskatoon both experienced strong year-over-year growth of 50.4 per and 34.2 per cent respectively.
In December 2024, building permits in Saskatchewan totalled $258 million (seasonally adjusted).
The total value of building permits represents the dollar value of construction permits for residential and non- residential buildings.
Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.8 billion, or 2.3 per cent. This ties Saskatchewan for second in the nation for real GDP growth, and above the national average of 1.6 per cent.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
Last year, the Government of Saskatchewan unveiled its new Securing the Next Decade of Growth - Saskatchewan's Investment Attraction Strategy. This strategy, combined with Saskatchewan's trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.
