Building permits in Germany continued to fall in January 2024 after the significant decline last year. The authorities approved the construction of 16,800 apartments, as the Federal Statistical Office announced on Monday in Wiesbaden.
That was 23.5 percent or 5,200 approvals fewer than a year earlier. Compared to January 2022, the number even fell by 43.4 percent. Builders are particularly concerned about the high interest rates on real estate loans and construction prices. Many projects are being postponed or canceled, especially in housing construction.