As of: February 29, 2024, 8:48 a.m
Comments
Press
Split
In 2023, a total of 214,100 apartments were approved in newly built residential buildings - around 30 percent fewer than in the previous year.
© Sven Hoppe/dpa
Increased interest rates and high prices are slowing housing construction.
The target originally set by the federal government is a long way off.
Wiesbaden - Despite strong demand for living space in many regions of Germany, the number of building permits fell to its lowest level in more than ten years last year.
According to preliminary information from the Federal Statistical Office, the authorities approved the construction of 260,100 apartments.
That was 26.6 percent or 94,100 units fewer than a year earlier.
The last time the number was lower was in 2012, when there were 241,100 apartments.
High prices for building materials and increased interest rates are slowing housing construction.
The federal government's original target of 400,000 new apartments per year is a long way off.
Building permits are an important indicator with a view to the housing shortage, especially in cities.
The figures include both building permits for apartments in new buildings and renovations.
A total of 214,100 apartments were approved in newly built residential buildings last year.
That was 29.7 percent less than in the previous year.
The number of building permits for single-family homes (minus 39.1 percent to 47,600) and two-family houses (minus 48.3 percent to 14,300 apartments) fell particularly significantly.
These types of buildings are generally constructed by private individuals.
According to the information, around two thirds of new apartments in Germany are being built in apartment buildings, which are predominantly built by companies.
Here the number of approvals fell by 25.1 percent to 142,600 apartments.
dpa