Wiesbaden (dpa) - The decline in building permits in Germany has slowed. In the first ten months of this year, the authorities approved the construction or renovation of almost 289,700 apartments, as the Federal Statistical Office announced on Monday.
That was almost as much as in the same period last year. In the first nine months there was still a decrease of 1.9 percent.
Around 249,300 apartments were approved in new residential buildings from January to October 2019. This was 1.2 percent less than in the same period last year. The number of building permits for single-family houses rose by 1.4 percent. The number of building permits for two-family houses, on the other hand, fell slightly by 0.2 percent and that for apartment buildings by 0.9 percent.
At the same time, the authority again pointed out that the number of new permits has been higher than the number of building completions for some time. This overhang has been increasing for several years.
In order to meet the great demand for real estate, 350,000 to 400,000 apartments have to be built in Germany every year, according to politicians and the construction industry. Last year, the construction of just under 302,800 apartments in pure residential buildings was approved. The new building is being slowed down by the fact that space in metropolitan areas is scarce, prices have risen significantly and craftsmen can hardly keep up because of full order books.
Building permits from January to October