New Zealand has become the latest country to build its own new homes after a decade-long lull.
Construction on a new 10-bedroom apartment building in the capital city of Wellington began earlier this month, bringing to 12 the number of new homes in the country built since 2007.
The new building is the country’s first major housing project since 2010, when a housing crisis sparked by the 2008 global financial crisis left the country with no affordable housing.
In recent years, the country has also been experiencing an economic slowdown, with the number one job market in the world and the country still facing high unemployment rates.
In October, the government approved the construction of more than 10,000 new affordable housing units, with most of the units expected to be built on land donated by a group of landowners.
The government’s announcement came days after New Zealand became the first country in the developed world to pass a new housing law, which aims to end what has been a decades-long shortage of housing for low-income families.
The country has one of the lowest rates of household income in the OECD and its unemployment rate has been hovering around 10 percent since 2012.
The first houses to be constructed were the first in the new housing project in April.
The construction was initially intended to start in 2019, but the government has recently pushed ahead with the project, which will include a total of 7,500 new units.
The New Zealand Government has said that the construction will be completed by 2025, though the timeline has yet to be determined.
It’s not clear when the project will be finished, and it is unclear whether it will include any housing for families with young children.