Residential construction - Approvals for new-build apartments fall to multi-year low
Thuringia is facing its worst year for a long time in terms of building permits issued. Up to October, just under 2,000 permits for new-build apartments had been issued, only half as many as in the same period last year, the State Statistical Office announced on Monday. This is the lowest level for 13 years. In addition, there were around 600 apartments in existing residential buildings.
Around 1,000 new apartments were approved in multi-storey buildings, half as many as in 2022. The number of single-family homes also fell significantly to around 770. The statisticians recorded 208 building applications for new residential homes, 190 fewer than in the same period last year.
Statement from the state office
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- Despite the challenges in Thuringia, some developers are still pushing ahead with their housing construction plans, such as the new residential construction project in Erfurt.
- The statistics show that the number of building permit authorizations for new-build apartments and single-family homes in Thuringia has significantly decreased, reaching a multi-year low in 2023.
- Interested buyers may be able to find new apartments in Thuringia's multi-storey buildings, as around 1,000 new apartments were approved with a building permit, albeit half the number from the previous year.
- In light of the reduced number of building approvals, potential renters or buyers may need to consider alternatives for affordable housing or new apartment options in nearby regions.
- To keep up with the demand for housing in Thuringia and support the construction industry, local authorities should explore ways to streamline the approval process for building permits and encourage new housing construction projects.
Source: www.stern.de
