Building permits in Saxony-Anhalt down significantly
The number of building permits in Saxony-Anhalt fell by more than a third in the first nine months of the year. According to the State Statistical Office on Friday, the number of new builds was even around 43 percent lower than in the same period last year. In the first nine months of this year, 2413 building projects were approved. Whereas previously around two thirds of approvals related to new buildings and one third to construction work on existing buildings, this ratio no longer exists.
The number of building permits has fallen sharply nationwide. In view of the sharp rise in interest rates on loans and expensive building materials, both private house builders and large investors are holding back.
According to the statistics authority, 4538 building permits were issued in Saxony-Anhalt in 2022 as a whole. 20 years earlier, the figure was more than 7300. Since 2007, the number of building permits has fluctuated between 4000 and around 5500 permits per year.
Despite the decline in building permits, there's still a need for statistical analysis to understand the impact on the construction industry and living standards in Saxony-Anhalt. This data could potentially reveal trends in housing demand and supply, affecting people's living conditions.
In light of the decrease in building permits, construction companies might need to explore alternative strategies, such as focusing on refurbishment projects or targeting niche markets, to maintain their living standards and stay competitive.
Source: www.dpa.com
