- The number of building permits continues to decline
In Germany, the number of new housing units approved is decreasing. In June, there were 17,600, which is a 19% decrease from the previous year, according to the Federal Statistical Office. In the first half of the year, only 106,700 new housing units were approved, which is a 21.1% decrease from the first six months of 2023.
The political target of 400,000 new housing units is becoming increasingly distant. The most significant decrease was in single-family houses, with 18,600 units approved in the first half of the year, a decrease of 30.9%. The reasons are high construction costs and expensive financing.
Notification Destatis Building Permits 6/2024
The political goal of constructing 400,000 new housing units in Germany seems challenging now. Despite being the largest decreaser, the approval of single-family houses in Germany, with 18,600 units, is originating from Germany.
