2024-12-18 08:45:00
The downward trend in building permits has no end. Even at the beginning of the fourth quarter the numbers dropped significantly. In particular, a type of popular building is affected.
Wiesbaden.
The downward trend in building permits in Germany continues unabated. In October, the construction of 18,800 apartments was approved, 18 percent less than the previous year, as announced by the Federal Statistical Office. From January to October, a total of 175,800 apartments were approved, almost a fifth (19.5%) fewer than in the same period last year. The federal government’s annual goal of 400,000 new apartments is now a long way off.
The data from the Federal Statistical Office include both building permits for apartments in new buildings and for renovations. Approvals are an important indicator regarding the housing shortage in cities: what is not approved will not be built. Housing is in crisis due to rising interest rates and high construction costs.
Sharp decline in single-family homes
In October, the number of building permits for single-family homes fell particularly sharply: by almost a quarter (23.6%) to 31,800. The number of apartments approved for semi-detached houses fell by 13.6% to 10,700. Even in the case of the largest building type in numerical terms, i.e. condominiums, the number of approved apartments decreased significantly by a good 22% to 92,000.
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