In Germany, few apartments are still being built. The political goal has become a distant prospect.
In Germany, fewer and fewer new apartments are being approved. In June, there were 17,600, 19 percent fewer than a year ago, according to the Federal Statistical Office. In the first half of the year, only 106,700 new apartments were approved. That was 21.1 percent fewer than in the first six months of 2023.
The political annual target of 400,000 new homes is thus becoming increasingly distant. The biggest decline was in single-family homes, of which almost a third (30.9 percent) fewer, or 18,600 units, were approved in the first half of the year. The reasons for this are the high construction costs and expensive financing.
Destatis Communication Building Permits 6/2024
Source: Stern
