property
Hardly any new apartments approved
There is no discernible trend reversal in housing construction. Despite the housing shortage in metropolitan areas, there are hardly any applications for new buildings. The political targets remain unachieved.
In Germany, very few apartments were once again approved in September. 15,300 units represent a decline of 23.1 percent compared to the same month last year, as reported by the Federal Statistical Office. After three quarters, 157,200 new apartments have been approved by the authorities this year. This is a decrease of 19.7 percent compared to the already weak period last year.
The number of newly approved single-family homes has shrunk particularly sharply. The authorities gave the green light for 28,300 projects here. That was 9,800 fewer than a year ago, a decline of 25.7 percent. In the case of multi-family houses, the number of newly approved apartments fell by 21.7 percent to 82,400 units.
The political annual target of 400,000 new apartments has therefore become even more distant. Approval numbers have been declining for more than two years. Reasons for investors’ reluctance include the high construction costs and expensive financing.
Destatis approvals of new apartments 9/2024
dpa
Source: Stern
