Current numbers - Fewer approvals for housing construction
In May, in Germany, fewer new dwellings were approved than in the same month of the previous year. The Statistical Federal Office reports that 17,800 units represent a decrease of 24.2% compared to May 2023. In the first five months, the construction of approximately 89,000 dwellings has been initiated. This is a decrease of 21.5%. One year ago, there were 24,000 more dwellings in the five-month period.
This indicates that the annual target of 400,000 new dwellings set by the Federal Government is even further from being met than in 2023. With 260,100 approvals, it was already the weakest year since 2012.
Announcement of Approvals Housing Construction 5/2024
Despite the decrease in new dwelling approvals in May 2024, with only 17,800 units, Germany is still striving to achieve its annual target of 400,000 new dwellings. Facing this challenge, the country needs to significantly increase its building initiatives to make up for the deficit.
