WIESBADEN (dpa-AFX) - In Germany, comparatively few new apartments were approved in November 2024. 17,900 units represents a decline of 13 percent compared to the same month last year, as reported by the Federal Statistical Office. This means that after eleven months of 2024, only 193,000 apartments have been approved by the authorities.
It is becoming apparent that 2024 will be an even weaker year for housing than 2023, when 260,100 units were approved, well below the political targets of the traffic light coalition. The coalition had aimed for 400,000 new apartments per year to counter the housing shortage, especially in metropolitan areas. In 2023, 294,400 apartments were completed, but no figures are yet available for 2024.
Private builders and companies are struggling with higher interest rates for real estate loans and higher construction prices. In view of the low number of permits, the construction industry associations and the real estate industry are calling for simpler building regulations and a reliable claim.
The president of the German Property Federation (Zentraler Immobilienausschuss, ZIA), Iris Schoberl, called the development "so serious that strong answers to the housing shortage must be part of the future government's 100-day program." According to the association, there is already a shortage of 600,000 apartments, and the gap could grow to 830,000 units in 2027 without extra efforts.