Construction of new homes and apartments in urban areas increased 4.4% on the year to 21,432 units last year, but housing construction in rural areas fell 8.3% to 21,157 units.

Of the total new homes and apartments built in 2014, 41,666 units were privately funded, while 923 units were financed from public funds.

In the fourth quarter alone, housing construction declined 17.5% to 14,034 units, the data showed.