As reported, building permits fell sharply last year due to increased loan interest rates and stricter lending rules. Now there is official confirmation: As Statistics Austria announced, the number of building permits has fallen to its lowest point since 2010 at 46,600. Compared to 2022, there was a decrease of more than a quarter. “In the peak years of 2017 or 2019 there were almost twice as many building permits as in 2023,” said Statistics Austria General Director Tobias Thomas. In 2017, 86,300 apartments were approved for construction.
In the previous year, most building permits for apartments were issued in Vienna (10,500). According to Statistics Austria, there were 8,300 apartments in Upper Austria and 7,600 in Lower Austria. At the lower end was Burgenland with 1,400 apartments.
Of the apartments approved for construction in 2023, the proportion of units in new one- and two-family residential buildings was 24 percent, and 51 percent in residential buildings with three or more apartments. Apart from Vienna, the apartments approved in existing buildings accounted for a quarter of all building permits.
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